The term net-metering has prevailed to refer to a system of self-energy production from Renewable Sources (mainly Photovoltaics) that feeds a consumption and in which the energy produced is channelled into the public electricity grid. At the same time, the energy consumed is also absorbed by the network. In each energy measurement cycle, a balance is made between produced and consumed energy.
This netting between produced and consumed energy allows the consumer to cover all or part of his electricity consumption. The Grid acts as a storage medium of green energy, which is transferred to and from the consumers’ energy production installation. As such, the consumer becomes at a Producers of energy, or a Prosumer.
Lately, the construction of large PV parks has come under scrutiny, given the environmental impact they have an arable land and the indirect disturbance of the natural environment. Net metering or rooftop solar comes as a solution to this issue, given that the construction of the building has already taken place and more of it is used to produce clean energy.
This locally produced energy could, potentially, be locally consumed in real time, or when the technology allows it, be locally stored and consumed over time, thus releasing capacity from the overburdened grids.
Net metering overall is beneficial in the consumers’ finances through offsetting produced and consumed energy, the environment through the production of green energy on already constructed structures and the energy system through alleviating the need to build more energy production facilities usually ran on fossil fuels.
PV systems are generally low maintenance and require little of the consumer. The technology has been tested and proven over more than 15 years, and the energy production highly predictable. There are no reasons why there isn’t a rooftop PV system on every building other than the initial upfront capex costs associated with it.
Sirec Energy, the largest private equity fund in Greece that invests in green projects, sees an immense opportunity in this field and has been investing in renewable sources and energy efficiency projects.
Through its latest investment in ESCO PARTNERS SA, the fund offers turnkey PV systems through net metering and cooperates with customers through a revenue-sharing model for 10 to 15 years, with ZERO investment for the customer.
Dionissis Alissandratos, Managing Director of Sirec Energy, commented:
“Net metering is the most efficient way to save on energy costs while maximising the utilisation of green energy. At Sirec Energy, we invest in developing rooftop PV systems using net metering for industrial and commercial production and providing end-to-end solutions from licencing to installation, as we envision a future that is low in carbon energy and net of emissions”.