People talk about solar panels. These days, though, they probably mean PV panels. What’s the difference? Well, solar panels make hot water, but photovoltaic or PV panels make electricity.
When this PV panel thing started, for no real reason, they were wired up such that the electric meter turned backwards when the electricity produced by the panels exceeded the house’s needs. And that is fascinating. And a problem.
You see, your utility provider for electricity buys electricity from the grid-power station at wholesale prices. They add a markup and sell to you at their retail price. The meter keeps tabs on how much electricity you used.
However, if you produce electricity – turning back your meter, then you are effectively selling electricity to the utility company at the same retail price you buy from them.
The utility company is seeing this growing exponentially, and it is now asking for a review such that you ought to sell to them at the same wholesale price as the grid-power station supplier.
There is talk of two meters being required, two tariffs, and the PV panels wired up differently.
Watch this space.