Renewable Energy and Net Metering Laws

Have you ever wondered what net metering was? Net metering is the law in 42 states and DC. What is means is when connected to the energy grid, you have a two way meter. As you produce your own solar and wind energy, any unused portion of that energy is sent back to the grid, which is measured by the meter. The electric company must compensate you for any energy you "sell" back to them. Compensation varies from state to state. You could receive actual cash reimbursement or energy credits for times when you don't produce enough of your own power. As you can imagine, net metering is an excellent incentive for people who are considering the green alternative to their home energy consumption. However, if you are still unconvinced...

Have you done your taxes yet for 2008? Since the Energy Policy Act of 2005, a homeowner can claim 30% of qualified costs of solar panel installation up to a maximum of $2000.00 and a separate credit for investing in a solar water heating system (as long as it isn't to heat a pool or hot tub). There has never been a more judicious time to start thinking about solar, wind and other eco-friendly renewable energy sources for the homeowner.

President Obama's recent signing of the Economic Stimulus Plan bodes well for the future of residential green energy. Although a lot of corporate concessions toward energy conservation and green production are included in the bill, there are some notable provisions for individuals as well. Future tax credits have been secured for those choosing to utilize solar and wind energy improvements to their homes.

All of the above advances in recognizing the significance of "going green" are exceptional, even if they are inevitable. After all, we can't carry on consuming fossil fuels at the present rate. The American Recovery and Reinvestment Act will reduce carbon emissions by a substantial 200 million metric tons. If that doesn't bring a smile to your face, then what will?

Judy Collins

green energy News

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