Calculate energy with Shelly 3EM?

I have a convoluted setup with an older PV without digital reporting, an analogue utility meter and the PV feed going directly in my panel making it hard to split production and consumption. And I want to measure my consumption.
Now I’m wondering, could I use a Shelly 3EM to measure PV output and power consumed from the grid, to calculate my real consumptions via a simple sum? (I would use the 3rd clamp to measure my heating power consumption, not used in the calculation . )
Would that approach work?