NY enacted two laws in September of 2011 addressing net metering: S.B. 1149 and A.B. 7765. Both enacted on (9/23/2011 and effective as of 9/23/2011. Below are the sections on How much is effected and how it is settled with the Utility.
System Capacity Limit:
Solar: 25 kW for residential; 2 MW for non-residentialWind: 25 kW for residential; 2 MW for non-residential; 500 kW for farm-basedMicro-hydroelectric: 25 kW for residential; 2 MW for non-residentialFuel Cells: 10 kW for residential; 1.5 MW for non-residentialBiogas: 1 MW (farm-based only)Micro-CHP: 10 kW (residential only)
And this is how the net billing is settled.
Net Excess Generation:
Generally credited to customer's next bill at retail rate (except avoided-cost rate for micro-CHP and fuel cells); excess generally reconciled annually at avoided-cost rate (except excess for non-residential wind and solar, and residential micro-CHP and fuel cells carries over indefinitely); annual treatment of excess from micro-hydroelectric facilities not yet determined
A 25kW PV system operating an average of 5 hours/day for a 30 day month will produce 22,500 kWh of electricity that month. I use an average of 1738 kWh/month. In NY, the rate for electricity is split between supplier and distributor. Mine is ~$0.08/kWh for each. So the retail value for net metering will be $0.08/kWh or $1661/month, max as a residence. The base cost is $100,000 before tax credits, rebates, etc. bringing the initial costs down to about $80,000. At 6% interest on the $80,000 and a monthly payment of $1661 it will take 44 months to pay off the loan. If the full amount was borrowed it would take 53 months. Just from the net metering. That doesn't include the fact that there would be no monthly utility bill.