net metering, definition of

Net Metering is a method of crediting customers for electricity that they generate on site in excess of their own electricity consumption. Customers with their own generation offset the electricity they would have purchased from their utility. If such customers generate more than they use in a billing period, their electric meter turns backwards to indicate their net excess generation.

Depending on individual state or utility rules, the net excess generation may be credited to their account (in many cases at the retail price), carried over to a future billing period, or ignored.

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