The Board of Directors for Valley Electric Association (VEA) approved a revised net billing program, which took effect in October 2020. The rules apply to systems up to 25 kW, though owners of larger systems may be able to negotiate net billing terms with VEA on a case-by-case basis.
Any excess energy exported to the grid will generate an "Excess Energy Credit," which is valued at 75% of the retail rate. The accumulated value of Excess Energy Credits will be applied to the customer's bill at the end of the month. In the event the value of Excess Energy Credits is greater than the value of electricity consumed by the customer during the month, the Excess Energy Credits will be applied to the next monthly bill. Any remaining Excess Energy Credits on September 30 of each calendar year will be forfeited. All RECs generated by the system convey to the utility.