What is a true up bill? A true-up bill reconciles your actual energy consumption over a 12-month period to determine if you have earned net metering credits or owing for a portion of your energy usage. Because your utility provider cannot monitor the entire power your system generates during the day when your house is fueled by the sun, you may get a true-up charge every 12 months your system is in operation. As a result, the utility company must total the quantity of electricity you consumed from the grid and the amount of power your house provided to the grid each month. After a year, the entire quantity of energy credits you get via net metering is deducted from the total amount of electricity you consume from the grid.
How is the true-up bill calculated?
You should keep regular tabs on both your net metering and your grid power use. If you consume a lot more electricity than you provide, you’ll owe the utility company money when you receive your true-up statement.
Every month, you’ll notice a portion on your utility bill that includes your net metering statement. It will show you how much electricity your solar system supplied to the grid as well as your net power use for the month. Keep in mind that you will not be invoiced for any net energy use displayed in the net metering statement in that month’s bill. Your true-up statement will include a charge for that net consumption. You are also charged a monthly fee for being connected to the grid.
Keep note of your monthly net metering in order to calculate your true-up bill
Keeping a spreadsheet of your monthly net usage and monthly net metering credits is a smart method to manage your true-up bill. If you are on time-of-use billing, it is critical to keep track of when you transmit power to the grid (during the day) and compute its worth based on the daytime rate for your plan. The same is true for any net energy use. Take note of how much electricity was consumed and when it was utilized. Calculate the cost of the electricity depending on the rate in your plan at the time of day (most likely in the evening) when it was utilized.
Home batteries might help you save money on your utility bill
If your house requires a lot of electricity at night, resulting in high net energy consumption at the end of the month, home batteries may assist. The greatest charges are levied in the evening. You may power your house with energy produced by your solar system and stored in batteries to decrease your demand during peak rate hours.
Freedom forever sells and installs home batteries
Give us a call if you decide you want to check into batteries. We will put you in touch with one of our network’s independent authorized dealers, who will go through your choices with you. Home battery incentives may be offered depending on where you reside.