PG&E Solar Payment option vs net metering.

[flapbreaker]

Looking into the cost of solar and trying to capitalize on all incentives. I am with PGE as a power company. They offer net metering but also an alternative called "Solar Payment option". I do not know if this is unique to PGE or if other power companies do this. Here is their description "In our standard Solar Payment Option, PGE will pay you for the power your system generates up to the amount of electricity you use." I checked their rates and they pay 31.6 ¢ per kWh. So instead of using your electricity they buy it from you at a premium rate up to the amount of kWh that you use from the grid. This seems like an excellent way to cover the costs of the solar system but don't know if I am missing something. If I generate 8,000 kWh per year I would earn $2480 per year or $206 per month which is more than I pay in electricity. Am I missing something? Do others have experience with this program?

EDITED with correct company info

[cebury]

Is your utility PGE (Portland General Electric) or PG&E (Pacific Gas & Electric) in California?

You've copied from the Portland website, but your post is staying PG&E and you should really put at least your state in your profile description.

[flapbreaker]

Is your utility PGE (Portland General Electric) or PG&E (Pacific Gas & Electric) in California?

You've copied from the Portland website, but your post is staying PG&E and you should really put at least your state in your profile description.

Sorry, I screwed that up. Yes Portland General Electric. I guess to cut to the chase I was hoping someone could share their experience with their "solar payment option".

[J.P.M.]

Sorry, I screwed that up. Yes Portland General Electric. I guess to cut to the chase I was hoping someone could share their experience with their "solar payment option".

No wonder I was more confused than usual.