PNM, short for Public Service Company of New Mexico, is a utility company that offers net metering to its customers with solar panels. Net metering is a system that allows homeowners to send excess electricity generated by their solar panels back to the grid and receive credits on their utility bill. This allows residents to not only save money on their electricity bills but also help reduce the carbon footprint of the whole community.
When a homeowner generates more clean electricity than they need, the excess is sent back to the grid. PNM will then issue credits to the homeowner for the excess electricity at the same rate that the homeowner pays for electricity from PNM. These credits can then be used to offset the cost of electricity when the homeowner needs more than their solar panels are generating. For example, if a homeowner generates 100kWh of electricity but only uses 80kWh, they will receive credits on their utility bill for the remaining 20kWh.
One of the biggest benefits of PNM net metering is that it allows homeowners to save money on their electricity bills. Instead of having to pay for all of their electricity from PNM, they can use the credits they have accumulated to offset the cost. This can result in significant savings over time.
Another benefit of PNM net metering is that it allows homeowners to be more self-sufficient. By generating their own electricity, they are not as dependent on PNM for their electricity needs. This can be especially beneficial during power outages, as homeowners with solar panels may be able to continue to generate electricity even when the grid is down.
PNM net metering also helps to reduce dependence on fossil fuels and decrease carbon emissions. By generating their own electricity, homeowners are not contributing to the demand for fossil fuels, and therefore not contributing to the emissions caused by burning those fuels.
To participate in PNM net metering, homeowners will need to have a solar panel system installed on their property and be connected to the PNM grid. They will also need to have a bi-directional meter installed to measure the electricity being sent to and from the grid. Homeowners will also need to fill out the appropriate forms and comply with PNM’s rules and regulations. We will be happy to answer any questions and assist you with everything necessary to qualify for net metering.