In general, net metering, or net energy metering (NEM) is a billing mechanism that enables you to send extra solar energy your solar panels generate beyond what your home can consume at the moment back into the electric grid. In return, you earn credit that you can use to offset the cost of electricity you pull from the grid in the future. The value of the credit depends on how electricity rates and net metering policies are structured in your utility.
Cobb EMC and Sawnee EMC currently provide 1-to-1 monthly net metering credits for production and consumption used within the same monthly billing cycle. This means the credit for extra solar electricity sent to the grid is the same value as the rate the utility charges you up to the total amount you consume from the grid that month. Any excess credits remaining at the end of the billing cycle roll over to the next month at the utility’s avoided cost of power, which is approximately 3 cents per kWh.
Other Georgia utilities Palmetto operates in, including Georgia Power, provide solar export credits for all extra solar electricity sent to the grid, referred to as net billing. By self-consuming solar production immediately in your home or storing it in a battery, you avoid purchasing electricity from the utility. Any excess solar exported to the electric grid will be credited. In Georgia, the export compensation rate is based on the avoided cost of power, which is the rate the utility would otherwise pay to power generators and ranges from approximately 2.8 to 4.5 cents per kWh depending on the utility.
Learn more about net metering here