The benefits of net metering in solar energy:
Electricity bill savings
The greatest benefit of net metering for solar energy homeowners is that it can result in thousands of dollars saved over the lifetime of the solar panel system.
Shorter payback period
Thanks to the reduction of utility bills, homeowners can retrieve their investment costs much faster.
Reduction of the load on the utility
Power generated by the private households helps the utilities to reduce the stress on the electrical grid. Also, the produced energy is can also be used by the utility company clients in the neighbourhood which further decreases the demand for the energy production from the power plant perspective.
Virtual energy storage
For solar energy homeowners, the net metering becomes a way to store the produced energy surplus in the grid which becomes a kind of energy storage without a need to have a physical storage like a expensive high capacity battery at home.