Many consumers don’t know it, but you can make money by selling energy directly to electric companies. How does this work? To understand fully, let’s take a brief look at the evolution of Texas energy companies over the last decade or so.
In 2002, Texas deregulated its electricity market. This did a couple of things: (i) it gave many Texans the right to choose their energy provider for the first time; and (ii) it forced many Texas electricity suppliers to innovate. Part of this innovation is green energy – which has come to be a dominant topic in the last few years.
Now that you understand why it’s possible to sell energy to electric companies, let’s turn our attention to how to do it.
It’s actually quite simple – if you generate electricity by, for example, solar panels, you can sell the extra energy you don’t need/use to your Texas electricity provider. This saves you money in a couple of ways.
2 Ways to Save on Your Monthly Electricity Bill
The first way you save is by producing your own energy. In addition to being kinder to the environment, green energy tends to be cheaper as well.
The second way you save is by, of course, selling the excess energy to your electricity supplier. When you sell it, you get a credit on your bill.
It’s innovative programs like this that have moved traditional Texas electricity suppliers fully into the 21st century. And, the savings haven’t stopped there.
Another popular, money-saving program is the Texas LITE-UP program. It gives consumers a discount on their bill during five of the most high-energy months of the year (May through September). Many consumers who qualify for this program have converted from high-cost, prepaid electric service plans where they were paying double or even triple what they now pay.
To see if you qualify for money-saving programs like this, consult your current Texas electricity supplier. If they don’t offer it, you are free to shop around for one that does.