Optimum solar panel rating for net energy metering environment

The advent of new technology and steep fall in cost of photo voltaic (PV) systems has rendered feed-in-tariff (FiT) scheme obsolete. Net energy metering (NEM) is gradually superseding the former as it promotes the growth of mini solar generations at every house. The primary objective of NEM is utilizing self produced renewable energy and to sell the excess to grid. However in spite of its numerous advantages, consumers are confused about its economic return. This paper proposes a model that will take customer's daily load curve and estimated renewable energy generation as input and give revenue saved and payback period as output depending upon the maximum generating capacity of solar panel. The entire modeling and analysis is done in MATLAB Simulink.