California governor Arnold Schwarzenegger signed legislature recently to increase incentives for home solar arrays. The legislation written by Nancy Skinner (D-Berkeley) will double the amount of energy that residents are able to sell back to the Golden State’s investor-owned utilities.
This increase in net-metering contracts from 2.5% to 5% of the energy load will allow consumers to recoup their investments in solar cell’s quickly and help reach California’s goal of installing a million rooftop solar systems by 2017.  This cap is supported by the state’s major investor-owned utilities.

California is the nation wide leader in solar energy and accounts for 65% of all solar installed in the U.S. and Net-metering is key to the success of this program.  Net metering is a metering and billing system for consumers who generate renewable energy, allowing consumers that generate energy on-site to send excess electricity flow  back to the regional power grid.  

The program allows the system owner to receive credit for a portion of the electricity they generate. Net-metering varies by county, city, state, and whether or not the utility is publicly or privately owned.  Net-metering allows kWh credits during the day and then the traditional pull from the grid at off peak hours.
While this is good news for certain residences, but where I live I still don’t have the option for any buy back program, which I feel is key to the success of renewable energy goals.  

I would love to hear about what buy back programs you have in place where you live and whether or not you feel this is a financially feasible program?