California’s net-energy metering (NEM) policy has been a key driver of the state’s solar deployment, incentivizing adoption by allowing utility customers to sell excess power generated from rooftop solar back to the grid for a profit. With approximately 1.5 million homes and businesses participating, policies like this have made California a clean energy leader in the United States, and even the world. However, the California Public Utilities Commission recently changed the solar-friendly policy.
The approved new framework (known as NEM 3.0) is expected to slash the rate paid for solar energy sold back to the grid by 75%. This revision significantly lengthens the five- to seven-year average payoff period for installing solar and puts the growth of solar power at risk. Californians must embrace an additional clean energy technology in order to shorten payoff periods and continue the momentum behind solar: batteries.
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Source: PV Magazine
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