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For me,banking meant having credit from the electric company for future use. My contract allows me to either get paid for extra electricity I produced over the year, or "bank" it for future use if needed. I've always had them pay me for the extra electricity. I'm going to change that to just keep the total for future use. I only got $9.00 for the the extra 500kwh of electricity this year. The reason is that they pay you at their average cost to produce electricity. This year it was only 1.7 cents per Kwh. I suspect it is because of the low cost of natural gas. If I where to buy 500Kwh, I'd be paying at a cost closer to 9 cents a Kwh. They can add in all these extra charges that bring up my costs. So in the future I'm just going to keep the extra electricity I make over the year. The "extra" electricity doesn't get stored, but is does reduce what the power company needs to produce. It is real power.
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