Quote:
Originally Posted by tdw28210
Does "true up" for you guys mean you get a check for any power generated that you don't use? I have a buddy in NorCal running solar and he says he usually gets a check once a year. Out here in the Carolinas we have Duke Power. They have a "use it or lose it" policy. Made me find a way to "use it".  |
Yes. "True up" means the date you & the power company settle up. Either they owe you or you owe them. I've never owed them, so I can't say what the rate is when you have to pay. I know they pay you the rate they pay their providers (wholesale), which is between two and four cents per kilowatt. They charge customers between around 28 cents and 48 cents per kilowatt on a three tier rate structure. Like I said, I got a credit for about $100 (check? - don't remember) for almost 3 megawatts of extra generation last year. That was one of the reasons I started thinking about an EV. It represented cheap power I could potentially use instead of selling it to the power utility for almost nothing. This is a feature of a "net metering" program where you get credited for extra generation. Unless you are on that kind of program, your excess generation just goes back into their grid. You don't get credit for extra and get charged for anything used over your generation.