Despite hearing resounding objections from the public, scientists and even many politicians, in December of 2022 the California Public Utilities Commission (CPUC) approved changes to modify the amount of money paid by PG&E and other utility providers to solar customers for excess electricity that homes provide to the grid.
I partnered with a solar provider colleague, Derrick Holt of Solar Energy Systems of California who serves with me on the Climate Action Committee of our Association of REALTORS to produce a video to summarize the issues, and answer the key questions about why you want to act now, including examples of the financial advantages to you. Here is the Link to our Video.
For those who prefer a limited summary in print, here are some of the key points:
The updated Net Energy Metering (NEM) 3.0 rules, which go into effect after April 14, 2023, reduce the net energy payments to customers by a whopping 75%! And they have added monthly fees just for the priviledge of having rooftop solar systems.
But it’s not too late to sign-up for a solar installation under the curre, nt NEM 2.0 program. You only need your application approved before the deadline. Your solar vendor then has up to three years to complete the installation. You must apply in time for PG&E to respond, and my guess is that they will be deluged with applications!
In addition, you can transfer the current NEM 2.0 program to a new owner when you eventually sell your home, something you cannot do that under NEM 3.0. This both saves you money in the short term, and increases the value of your home in the future. There also are tax incentives to help with the upfront costs. So the sun and the stars really are converging for you to act now. Right now. This month, but not much later!
