The net metering in Florida allows solar owners to receive a 1 for 1 credit for the extra electricity their solar panels produce. This means if a homeowner’s solar panels generate more electricity than what is needed to power their home the excess electricity can be sold back to the grid at the full retail price. However, their net metering program only allows solar owners to receive credits for the same amount of electricity that they pulled from the grid.
For example, if a homeowner’s solar panels generated an extra 100 kWh in one month but the home only pulled 80 kWh from the grid, that homeowner would only receive credits for 80 kWh. The credits for the other 20 kWh would roll over to be used towards next months utility bill.
Florida’s net metering policies only apply to the state’s Investor Owned Utilities, also referred to as IOUs. IOUs cover about 79% of the state’s residents, while the rest are serviced by municipal utility companies. It is important to note that most of these municipal utility companies have net metering policies and buy-back plans of their own.