The manual for the Sol-Ark 12k shows the continuous AC power to grid is 37.5a. This means 200a+37.5a is less than 240a total, which means we are under the 120% rule. But just barely.
I will have an 11kw solar array on the house, which is 48.83a @ 240v. Now this will exceed the 120% rule by 8.83a. BUT, if the inverter is only capable of sending 37.5a to the grid, does this mean I am technically under the 120% rule?
The rule is breaker size, not actual amps drawn.
Of course, busbar heating from actual amps. Adequate from an ampacity perspective but not code. So as Balthazar says the export current could be programmed low enough while allowing more import. (Maybe not programmed lower than any AC coupled PV.)
I used to have mine connected through Square-D QO panel, which has 225A busbar and 200A main. That allowed 70A backfed breaker for PV (and Sunny Island)
Now I have something like a line-side tap, except that there is another 200A breaker right after the meter. No more than 200A can enter 2/0 wire connector from grid, no more than 100A more can enter it from fused disconnect for Sunny Islands, but no more than 200A can enter main panel, because all branches have OCP. There would be 300A available to a length of wire, but it can only short to enclosure (tripping OCP) or feed a 200A breaker.
It is possible to have more than 3 branches. In that case, if multiple forks occurred in the wire, a length could exceed 200A, would need larger gauge for that section. But with a 400A rated Polaris connector, could have 5 branches in a star or "Y" connection and all wires are protected. (Unlike a busbar, which daisy-chains many loads. The Polaris is the busbar.)
With a line-side tap, load on their wires is sum of the multiple circuits (except if there is one more breaker at the meter.) When line-side tap is only GT PV, only decreases current doesn't increase. With a battery inverter & loads, utility wires could cause sum of both.
Does the electric company care about the actual solar array output? Or the legitimate load that can be placed on the electrical panel itself? These are 2 very different things.
Solar array & inverter they put limits. Generation has to match load, and excessive consumer PV is unregulated, can destabilize grid. So they have limits.
Load of course is current, and usually adds up to more than PV generation.
A utility transformer can be fused on the primary, protecting transformer and wires downstream.
Sum of consumer 200A breaker panels may exceed capacity, but not all at 100% load at same time, and if they are fuses protect.
If enough consumer PV connected, say 70A per panel, all that power plus transformer are available to feed wires to houses further from transformer. This can exceed, in the wires, what 120% rule would limit panels to. And it isn't at far end of the wires. A utility run down the street could have 200%, twice the current available to it that it can carry. If consumer load aren't balanced between L1 and L2, the Neutral wire can carry more than Line; 2x the 240V current from PV plus current from transformer.