What is Net Metering?

What is Net Metering?

It can be a bit confusing.

Will I get rid of my electric bill when I have solar power for my home?

Well…yes and no. 

Our goal is to eliminate your electricity expense and use the utility company for “storage” of excess power created during the daytime so you have a reserve for night time when the solar system can’t make power. Since they’re tracking the production of electricity they will still send an accounting each month. So yes, you will still get the bill but our goal is to eliminate the expense. Solar Edge and Radiant Solar Net Metering Inverter-panel-101718-2

 

How Net Metering Works

This process is called “Net-metering”. Here’s how it works.  The most common home solar installations are grid-tied systems that use a billing method called net-metering. With net-metering, the grid acts as your off-site storage.  You can use the energy your solar system produced at a later time and the utility company will pay you for any excess electricity you produce.

Explainer graphic for solar grid tied system and net metering [colors are bright blue background with solar panels and highlighted elements blinking yellow]. Graphic depicts the sun exposing solar panels by arrows directing the path electricity takes from the home to the inverter and then to the NetMeter and electric company power grid

A grid-tied system is one that is connected to the electrical grid through your power company.  When your solar system is making power during the day any excess power that it generates is sent back to the “Grid” and your power company keeps track of that for you. Now you’re making enough power to cover your own electricity use and get some credit back from the electric company. 

Except for “off-grid” applications, solar battery systems can be cost prohibitive and difficult to perfectly match the production and consumption of electricity for a normal home.

Here’s The Good News!

With net-metering you don’t need batteries to store the power your home needs for night and super bad weather days, we put the utility company to work for you to store and track production and consumption. 

Our team strives to design solar systems that will produce more power than the home uses so you can build up more credits. We typically recommend systems that offset your usage by 85%-95% so that your bill comes out as close to zero over the course of a year as possible giving you the best bang for your solar investment dollar. 

 

 

Radiant Solar Energy Update: Kentucky Homeowner Legislation 19RS SB100

July 7, 2021
Radiant Solar Energy Update ALERT
Kentucky Homeowner Legislation 19RS SB100

pdf icon for download Kentucky solar energy alert ⚠ Download Energy Update 

We know from reliable industry professionals and government officials that Kentucky Senate Bill100, effective January 1, 2020, has accelerated and is gaining ground FAST!

Energy experts regard the Bill as a huge win for Utility Companies and the Coal lobby. It was thought that our leadership in Frankfort would reverse the push forward but it appears to be going in the opposite direction, making it an unprecedented anti-Homeowner, anti-Solar energy law. 

KY-SB100, signed by the Governor in March, 2019, is a law that eliminates net-metering (the method of a customer and the utility billing each other for what they each produce and use) in Kentucky. That allows the electric company to NOT pay you back for making your own power. However, each utility has to apply to the KY-PSC (Kentucky Public Service Commission) to engage the law for their customers. 

Some Good News:

If Radiant Solar files for net metering before your utility company filings are approved then you will be grandfathered in for 25yrs and side-step the new rule. There is still time, but it is running seriously thin.

“This (SB100) is the Government and Big Power overstepping and making it extremely hard for homeowners to enjoy Affordable Energy Independence. Radiant Solar is in business because we support your right to make your own power and not be subjected to laws like this”

~ Joe “The Solar Guy”, Radiant Solar

Utility Company Status:

Kentucky Power – Filed, amendments pending approval
KU/LG&E – Filed, Under Review, approval anticipated
Duke Energy – Not Filed, expected to follow KP/KU/LGE soon
All KY CoOps –  Not Filed, no word on expectations but we assume they will follow the larger utilities lead.

If you are considering owning your power, instead of renting it, then this is an urgent request: Please reach out as soon as possible since the backlog of applications is growing and our processing folks are swamped with requests for assistance.

Radiant Solar is passionate about helping as many Kentuckians as possible while we still can and your request for a free home energy report or design proposal will be given #1 Priority!!! 

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Memorial Day: Our Veteran’s Connection

Memorial Day: Our Veteran's Connection

Joe Garcia, USMC, Ret. (R) pictured with his grandfather, Staff Sgt Alexander Garcia, 101st Airborne, Screaming Eagles, Awarded, the Distinguished Service Cross, Silver Star and 3 Purple Hearts and many other honors having made all five major assault combat jumps, WWII Europe and N. Africa.

As the sun sets on Memorial Day we bow our heads one more time for those that have served and given their lives for our freedom. Radiant Solar is proud to be a Veteran owned business. 

Veterans Day is November 11th. It’s the day we honor the living, our veterans. This is the day we say “Thank you for your service.” Radiant Solar Principal and GM, Joe Garcia, is among them. He served meritoriously for 9 years in the United States Marine Corps, reaching the rank of Sergeant.

Memorial Day is celebrated on the last Monday of May each year. This is the day we honor those who gave the ultimate sacrifice in service of our country’s freedom. We place flags on headstones and say words of honor and respect and prayers of thanksgiving to the men and women who fearlessly executed their orders, without regard to their own lives, to ensure our freedom.

Joe’s connection to Memorial Day is unique in our view. He was serving at Charleston Naval Station in South Carolina and was assigned duty as the Non-Commissioned Officer in Charge of the Honor Guard for Inspector Instructor Staff, 4th Landing Support Battalion, 4th Marine Division. He was responsible for laying to rest 36 veterans in execution of his duties. 

“I did a lot of things during my time in the Marines that I am proud of … but folding those 36 flags, honoring those soldiers, sailors, airmen and Marines … serving their families with honor and respect in their time of greatest grief … bringing that veteran home to their final resting place … that is the thing I am most proud of and the most humbled by … “

Today let’s all remember that freedom is not free. Men and women have laid the foundation of our freedom and the mortar was mixed with sweat and tears and blood. Let us never forget.

Federal Solar Investment Tax Credit (ITC): Everything You Need To Know

US Federal Solar Investment Tax Credit (ITC)

all the details on the US government’s tax credit for residential solar panels.
Comic Strip of the Federal ITC Solar tax credit with Soanny and Joe the Solar Guy
Joe The Solar Guy and Sonny Discuss The Solar ITC Tax Credit

The solar Investment Tax Credit (ITC) is a federal tax credit you can apply to the purchase of home solar energy systems. The credit, which is applied to a home owner’s income tax, is equal to a percentage of the cost of eligible equipment.

TL;DR: If you buy solar panels you’ll get a credit on your taxes that will offset (26% in 2021) your total solar system expense.

 

How The Solar Tax Credit Works

You are eligible for the solar tax credit once you’ve purchased your solar energy system. You can “roll over,” the remaining credits into future years for as long as the tax credit is in effect even if you don’t have enough tax liability to claim the entire credit in one year. However, remember that if you lease a solar system you cannot receive the tax credit.

Basic Requirements

  • Your solar system must be installed in the calendar year the tax credit is active
  • You must own the property. Renters are not eligible. 
  • The system must be located in the US at a primary or secondary residence
  • You must be the owner of the system, having either paid with cash or through financing
  • The solar system has never been installed or used before
How Much Energy Do You Use Now?
Find out how much money you’d save:

ITC Tax Credit Resources for 2021

pdf icon for download solar info from SEIASEIA (Solar Energy Industry Association) ITC Factsheet for 2021

pdf icon for download solar info from SEIAHomeowner’s Guide to the Federal Tax Credit (US Department Of Energy)

IRS Information page, “About Form 5695, Residential Energy Credits”  -this page also has the most current revision of the required tax form (5695).

History of the Solar ITC Tax Credit

The US Government continues to renew the periodically expiringFederal ITC solar tax credit step down bar graph 2021 2022 2023 2024 credit enacted in The Energy Policy Act of 2005. The Act included dozens of provisions for renewable energy production including solar and wind tax credits for residential homes and businesses. The initial 30% reduction quoted in the act lasted through 2019. It has changed many times, the percentage decreasing steadily before the credit eventually was to expire.

 

How much $$ can I save?

5 Questions We hear From Homeowners Shopping For Solar

5 questions We hear From Homeowners Shopping For Solar

 

1. Isn’t solar expensive?

Myth Busted! Radiant Solar’s motto is “Affordable Energy Independence” for a reason! We have a proprietary program that typically costs less than your current electric budget AND it can be financed with $0 money down and 1.99%-2.99% Loan Program* with no payment until 60 days after installation!

You start saving on day-one because we can FIX your monthly cost at last year’s rate for the next 10-25 years!!! 

2. Are the Federal tax incentives complicated?

NOPE! The Federal ITC tax credit is real money which allows 26% of the cost of solar to be recovered from Uncle Sam. The paperwork is an easy 1-page form and we will give you everything you need to collect your reimbursement! This incentive is available for 2021 and now is the best time in history to GO SOLAR!

3. Does my roof  get enough sunlight?

Consider this example: Germany has shorter summers, less annual sunlight, more snow and real mountains (The Alps) and has 38 million homes with solar systems compared to the entire USA which has about 2 million homes with solar.

Think About It!

38 Million folks in Germany who get 20% less annual radiant sunlight than the midwestern United States can’t be wrong! 

4. Isn’t solar for tree huggers & preppers

Really? There are many environmental and situational reasons to install solar.  Although going “off-grid” sounds a little wild to some, in actuality, the majority of solar systems are connected to the grid so that excess power can be sold back to the utility company which literally pays for the system.

5. I heard that solar doesn’t pay off, is that true? 

NOT True! A typical solar system adds $25,000 INSTANT Equity to your home. The National Association of Realtors says that solar is one of the best, property tax exempt, home improvements you can make. Appraisers estimate that for every $1 spent on solar will increase home value by $.90 making solar one of the best investments for your home.

Does Your Home Qualify For Solar?

Have an energy consultant find out how much money you will save:
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