Replacing the now-defunct net metering system with net billing means that residential consumers will recoup the cost of installing a PV system within five to seven years.
The companies will recoup their investments in 3.6 to 4.5 years, according to an analysis by the Association of Photovoltaic Companies, which has released a detailed guide to the new legislation and the steps that need to be taken by those interested in producing energy for their own consumption.
It takes into account the estimated cost of installing a home photovoltaic system with or without batteries (€16,000 or €8,500 respectively), as well as the benefits of not having to buy electricity during the hours the system is generating energy and the tax incentives introduced for installing such systems and upgrading buildings.
In both cases, the benefit is greatest when large amounts of electricity are consumed and income is sufficient to make the lower tax rate meaningful.
The main difference between net metering and net metering is that energy is produced and consumed directly, with the surplus supplied to the grid at a market price. For photovoltaic panels, prices during peak production hours, when there is likely to be a surplus, are likely to be low or zero.
With net metering, the producer “accumulated” excess electricity in the network, and this was offset by the energy consumed over a three-year period.
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