By Charles W. Thurston December 27, 2022 Utilities were big winners in the California solar + storage market in mid-December, convincing the California Public Utilities Commission (CPUC) to slash the value of solar energy returned to the grid by 75 percent, or as little as a nickel/kWh, effective mid-April 2023. This ruling — Net Energy Metering (NEM) 3.0 — under contentious study for two years, will drag out the amortization timetable for both solar and storage system adoption for residential and commercial customers alike.The measure was nominally aimed at encouraging residential storage adoption for solar homes, but does so by lessening the value of solar systems through higher Time of Use rate changes. Thus, the incentive for new storage is primarily cost avoidance.“It is important that everyone understands that with this (change), a battery system is still more…
California solar rates lowered to boost energy storage. Will it work?
