The net metering market has grown significantly in the past five years, driven by simple installation procedures, favorable government policies and the affordability of rooftop solar photovoltaic (PV), according to GlobalData, a leading data and analytics company.
GlobalData’s latest report ‘Smart Grid Policy Handbook 2019’ reveals that solar PV is the most popular technology to use net metering for grid connection and small wind is at a distant second in terms of capacity connected to the grid.
Harshavardhan Reddy Nagatham, Power Analyst at GlobalData, comments: “In countries with large solar potential and ambitious solar PV targets, rooftop solar is being looked at as a major means to achieve a significant portion of the solar or renewable power targets and net metering policies promote installations by making an installation not only reliable for backup but also profitable through the sale of surplus electricity to the grid.”
A number of countries already have net energy metering protocols and equipment in place. Countries including the US, Canada, Mexico, Brazil, Australia, India and South Africa have policies that support and subsidize the installation of net meters, as well as policies that mandate utilities to provide a fair tariff to net metered customers.