A new reality: The path forward for California’s solar and storage industry

According to forecasts from Wood Mackenzie, California’s residential solar market will see a 40% decline in 2024.

California’s rooftop solar and storage market is changing, and the industry is learning to operate in this new reality.

California has been America’s top solar market for over a decade, installing more solar capacity than any state every year until Texas took over in 2021. While California reclaimed the number one ranking in 2022 and installations look strong in 2023, the shift in 2021 may be a preview of what is to come.

In late 2022, after years of debate, the California Public Utilities Commission (CPUC) unanimously approved a new way to compensate rooftop solar customers for the excess energy they generate. This decision moves the state from retail rate “net metering” to a new “net billing” structure that cuts the value of rooftop solar credits by about 75%.

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Source: SEIA

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