Once a year, payment is made to the member for the generated kWh in their bank. The bank is then returned to zero. GCEA offers two true-up times in either in October or April. The choice of true-up in the spring or fall is made on the net metering application during new construction or else when a member moves into a property with existing net metering. If you do not elect either option, you will be signed up for the April true-up default option. The value of the energy accumulated in the bank is paid at the average wholesale rate GCEA pays its power provider at the time of the true-up.
A net metering goal is to have a “net-zero” energy usage, meaning that your generation system completely offsets your energy consumption. The true-up payment for the banked kWh is at a much lower rate than the cost of retail electricity.