At Nexamp, our approach to electricity rates is unique because we focus on community solar programs instead of acting as a traditional electricity supplier. Here’s an explanation of how this works for you:
- Community Solar Credits: Our solar farms generate electricity that’s fed into the local utility grid. As a subscriber, you receive credits based on this electricity production.
- No Fixed Rate per kWh: Unlike energy suppliers, Nexamp doesn’t charge you a fixed rate per kilowatt-hour (kWh) for electricity. Instead, the credits you receive are valued by your utility, and help reduce your existing electricity costs. These credits are valued according to state regulations and typically include all standard supply, delivery, and transmission fees associated with those kWh.
- State-Specific Discounts: We offer a discount on the value of these solar credits. This discount varies by state and allows you to achieve annual net savings on your utility costs.
- Fluctuating Utility Rates: It’s important to remember that standard utility rates can change throughout the year. These fluctuations affect the value of your solar credits. While Nexamp doesn’t control these rate changes, we make sure you’re accurately being invoiced for the credits that are valued by your utility and the state utilities commission. Despite changing rates, customers on the utility's standard offer can anticipate that our credits will cover approximately 90% of their yearly utility costs.
- Third-Party Supplier Rates: If you're using a third-party supplier, the rate per kWh might differ from our credits. If there’s a significant change in your supplier or rates, please let us know. If left untreated, you could potentially receive too many or too few credits. This communication helps us adjust the credits you’ll receive to maximize your savings throughout the year.
Maximizing Your Benefits: Our goal is always to optimize your savings with community solar. By staying informed about changes in your utility rates and communicating with us, you can make the most out of our program.