Understanding savings and billing with Nexamp
Community solar offers an easy way to lower your electricity costs while supporting clean energy in your community. Here's a breakdown of how savings and billing work, along with what to expect throughout the year.
Your portion of a solar farm, also known as your spot or your share, generates energy from the sun. This energy then turns into credits on your electricity bill, which lowers what you owe to your utility provider.
How billing works
Credits lower your utility bill
Your subscription generates energy, which turns into credits on your electricity bill and lowers what you owe.
You’ll receive a Nexamp bill
You pay Nexamp for those credits, but at a lower cost than what you would have paid your utility.
Your savings add up
Over the course of a year, you save 10-15% on your electricity costs.
Our billing process
It’s important to note that your Nexamp bill will typically arrive after your credits have been applied. For example, a Nexamp bill issued in February will reflect credits that were applied to your January electricity bill. This timing helps us ensure that your utility applied your credits accurately, and that we’re charging you the correct amount.
Savings are not the same each month
Solar energy production naturally fluctuates throughout the year, which means the credits your portion of the farm generates will vary with the seasons. This seasonality affects how much you save from month to month, but don't worry —t his evens out over the course of the year and you'll still end up saving 10-15% on your annual electricity costs.
Please note: Your savings don't vary based on your electricity usage, they vary based on how many community solar credits your spot on the farm generates.
When do savings start?
Your savings don’t begin immediately after signing up. Due to the high demand for community solar, it can often take 3-6 months to be assigned to a live solar farm and begin generating credits. It then takes about two to three billing cycles for the credits to start appearing on your electricity bill. About one month after you begin seeing solar credits on your electricity bill, you will receive your first Nexamp bill for those credits.
Key takeaways
- This is not an across-the-board discount on your electricity bill
The credits generated from your portion of the farm are not free, but you get them for 10-15% less than they are worth. It's like buying discounted gift cards for your electricity provider. - You will not be charged the same each month
Billing varies depending on the amount of credits generated by your share of the solar farm and the timing of their application to your electricity bill. - Nexamp bills for credits after they are applied
There is a delay between when credits appear on your electricity bill and when you’re billed by Nexamp. This allows Nexamp to confirm that your credits have been correctly applied to your electricity bill. - Savings begin after you are placed on a farm
It may take two to three billing cycles after your spot on the farm goes live for credits to appear on your electricity bill.