Under this incentive, Eversource purchases all Renewable Energy Certificates (RECs) generated by a solar project as measured by the system’s production meter. The price Eversource pays for each REC generated by a project is established by the Connecticut Public Utilities Regulatory Authority (PURA) and will be noted in the Statement Qualification issued to the project. Once a project has received a Statement of Qualification designating a REC purchase price, the purchase price will not change for twenty years. REC incentive rates may be greater than zero but have been set by PURA at $0 per kWh for projects submitted on or after 1/1/2024.
Solar projects receiving the Netting Incentive also reduce the amount of electricity the customer purchases from Eversource, reducing a customer's monthly bills. In months where a solar project produces less electricity than a customer uses, the customer will purchase their remaining electricity needed from Eversource at current rates. In months where a solar project produces more electricity than the customer uses, any excess electricity will be converted to a bill credit that can be used in future months to offset future Eversource charges. Any excess generation at the end of a month is credited to the customer's bill at the full retail rate.
Monthly excess generation is measured at a customer's service meter and will be different from the total generation of the solar project. Total solar production is measured at a separate meter know as the production meter which only measures electricity generated by the solar project.