Net metering allows electricity customers to generate power from small-scale renewable sources for their own use. They can then also supply surplus power to their electricity utility when available.
“We have worked to ensure that utilities move forward as quickly as possible to develop a net metering program,” Coady said in a news release Friday.
“Homes that are able to supplement their energy needs through net metering will not only save themselves money, but will be supporting energy efficiency and a greener environment.”
Once the program is fully implemented, customers will be able to feed power into the distribution system during periods when they generate excess power and draw power from the grid when their generation does not fully meet their needs.
As a result of the approval by the Public Utilities Board, net metering customers will now be permitted to install renewable energy systems sized to their electricity load, up to a maximum of 100 kilowatts.
As the average homeowner uses 10-15 kilowatts, the five-megawatt provincial cap for the program provides an opportunity for homeowners and business to offset their energy consumption.
The province worked with Newfoundland and Labrador Hydro and Newfoundland Power to develop the framework for the net metering policy, and will continue to work with them and the regulator to monitor and evaluate its implementation.
The utilities will be updating their websites with additional information in the coming weeks and expect to be ready to begin accepting customer net metering applications starting July 1 of this year.