Selling power back to the grid can be a sure way to pull in some extra income. With your small power station, you won't have to pay any electricity bills. Below, top tips and hints on how to sell electricity to the grid are outlined.
First, you must take this as a business and the investment must make perfect sense. In short, if you intend to produce power via wind, the local where you set up your wind turbine must be able to support the same. You do not want to spend eighty thousand dollars on installation cost only for the investment to produce a few mega watts.
Consider using a broker as an intermediary between you and the power utility firm. In most states, it can be hard if not impossible to sell electricity back to your local utility company, more so if you are a small time producer. The only viable way to sell back may be through a local broker. You could search online for a local broker or talk with other local producers.
Taking advantage of government initiatives that encourage such investments is also a wise move. Oil which is a major source of power isn't exactly a clean type of energy. Apart from this fact, most nations that produce crude oil are marred wit lots of political instability making the cost of producing electricity using crude oil unpredictable. That said, most governments are looking for ways to stop depending on crude oil. Part of this is enacting legislation that encourages production of clean energy.
Setting up a small power station is work meant to be done by a professional. You will need to contact a skilled electrical engineer to assist you with installation. You also need to marshal funds for the project. Typically, you may require at least $50K to fund the project.
It's also prudent to have an idea of some of the local legislation affecting power generation in your area. For example, there are the net metering laws which basically are meant to shield private generators from exploitation. In general, the private generators are supposed to sell back the power at the same rate the utility company is selling to its clients.
Talking to your local power utility company cannot be overemphasized. You are entering into a business agreement with the utility firm and it pays to talk to them. As when doing any business, you must have a good relationship with to your customer. Assuming that the utility company will buy at a particular rate is never wise. Talking to them before putting money into this is prudent.
If there is any advice you need to take from this piece is doing research. You need to do a lot of reading before venturing into this form of business. Any savvy business person will tell you to have a good business; lots of research is necessary. Checking out a few sources online, reading a few books talking to people who are in this business are all part of research. Doing research helps you identify how to sell electricity to the grid.
First, you must take this as a business and the investment must make perfect sense. In short, if you intend to produce power via wind, the local where you set up your wind turbine must be able to support the same. You do not want to spend eighty thousand dollars on installation cost only for the investment to produce a few mega watts.
Consider using a broker as an intermediary between you and the power utility firm. In most states, it can be hard if not impossible to sell electricity back to your local utility company, more so if you are a small time producer. The only viable way to sell back may be through a local broker. You could search online for a local broker or talk with other local producers.
Taking advantage of government initiatives that encourage such investments is also a wise move. Oil which is a major source of power isn't exactly a clean type of energy. Apart from this fact, most nations that produce crude oil are marred wit lots of political instability making the cost of producing electricity using crude oil unpredictable. That said, most governments are looking for ways to stop depending on crude oil. Part of this is enacting legislation that encourages production of clean energy.
Setting up a small power station is work meant to be done by a professional. You will need to contact a skilled electrical engineer to assist you with installation. You also need to marshal funds for the project. Typically, you may require at least $50K to fund the project.
It's also prudent to have an idea of some of the local legislation affecting power generation in your area. For example, there are the net metering laws which basically are meant to shield private generators from exploitation. In general, the private generators are supposed to sell back the power at the same rate the utility company is selling to its clients.
Talking to your local power utility company cannot be overemphasized. You are entering into a business agreement with the utility firm and it pays to talk to them. As when doing any business, you must have a good relationship with to your customer. Assuming that the utility company will buy at a particular rate is never wise. Talking to them before putting money into this is prudent.
If there is any advice you need to take from this piece is doing research. You need to do a lot of reading before venturing into this form of business. Any savvy business person will tell you to have a good business; lots of research is necessary. Checking out a few sources online, reading a few books talking to people who are in this business are all part of research. Doing research helps you identify how to sell electricity to the grid.
About the Author:
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