Solar energy has long proven to be extremely beneficial for the environment and for the economy. Thanks to technological advances that make solar panels more and more affordable, solar energy is becoming the main source of energy for increasing numbers of families and businesses. Generating their own energy allows households and companies to save on utility costs and reduce their annual spending.
Net metering systems play a crucial role in the utilisation of solar energy. Simply put, net metering is a way of storing the energy produced by the solar power station so that it can be used at a later time. Since solar panel systems generate energy during the day, net metering facilitates the outflow of excess energy into the grid and ensures its inflow during the night.
Georgia launched its net metering system in 2016. At the initial stage of implementation, the system only allowed energy generating stations with a capacity of up to 100 kW to be connected. This limitation meant that private households were the main beneficiaries of net metering. However, in 2020 the Georgian National Energy and Water Supply Regulatory Commission (GNERC) raised the limit to 500 kW, making it possible for small and medium-sized businesses to connect to the grid. Not only that: thanks to this new regulation, it is now possible for the generating and utilising stations to be in different places.
Since its launch, 316 stations have already connected to the net metering system. Their total energy generating capacity is more than 10 MW. “Recently there has been a particular increase in interest from the commercial sector to invest in the construction of a solar panel station and receive this energy. And it is no surprise. The return on investments of the solar panel station is pretty good. The payback period for these investments is around 5-6 years, after which the enterprise is practically using free energy,” says the Chairman of the commission, David Narmania.
GEFF in Georgia has also been actively promoting the use of solar energy. Since its launch in 2019, the total amount of credit granted for solar power stations is just under USD 500,000. The types of businesses adopting renewable energy range from online supermarkets to heavy production companies. Furthermore, via its Green Technology Selector, GEFF in Georgia offers the best-in-class solar technologies available on the Georgian market.
Investing in solar energy has a number of benefits. Firstly, using solar energy enables businesses to cut utility costs. Secondly, solar investment is one of the few investments with guaranteed returns. And lastly, households and businesses that generate their own energy enjoy greater energy independence, which makes them less susceptible to changes in electricity prices.
To further understand the benefits of using solar energy, learn about the net metering system and know more about the implementation of the project, GEFF in Georgia invites you to attend an online training session on “Solar power station project implementation” that will be held on the TBC business platform on 8 November 2021, starting at 15:00. The training is free for everyone upon registration.
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