These types of modules are linked to your power grid. Your electricity needs will be fulfilled by the generated electricity first. If there is excess, it will sent to the grid for consumption by others. You are effectively selling excess electricity as per tariffs.
A typical grid tied solar PV module includes the following components:
- PV modules
- Inverter
- Balance of system – PV operating system, including the inverter, mounting structures, cables, and connectors
Net Metering
A two-way meter will be used to calculate the amount of electricity consumed from the grid that you consumed and the amount of excess electricity generated by the consumer that was sent back to the grid. The difference will be adjusted in the next billing cycle.
The biggest benefit of using a solar PV module is long operational life with very little maintenance costs. Normally the investment will be gained back in 7-9 years. The useful life of the system is at least 20 years and can go up to 30 years, working hard every shiny day to save (and make) you money.