NEM 3.0 Official Statement
On behalf of the Revel Energy team, here is our official statement pertaining to NEM 3.0.
“I have some urgent news to share with you that impacts California electricity customers.
California businesses that have solar earn credits for the energy their solar system generates at the same rate in which they would purchase the energy from their utility company (full retail rate). This is possible through the utility program Net Energy Metering, or NEM 2.0.
The California Public Utilities Commission (CPUC) on behalf of Southern California Edison, Pacific Gas & Electric and San Diego Gas & Electric is in the process of reviewing proposals to modify the latest version of Net Energy Metering to NEM 3.0. The change from NEM 2.0 to NEM 3.0 is expected to pass by the end of this year.
These proposals include…
- Reducing the monetary value of the energy being produced by solar systems. Instead of solar customers getting full credit at the retail rate for their energy produced, it is being proposed that the utility would instead credit the clients cents on the dollar.
- Non-bypassable fees imposed on solar customers. These fees are anywhere from $1,000 – $3,400/ month for a 250 kW solar system; the larger the system the greater the fees.
Customers who get a NEM 2.0 application approved by the deadline (expected Nov 2021) can grandfather in NEM 2.0 for 20 years.
Your proposed savings moving forward will depend heavily on whether we qualify you for the current NEM 2.0 program. If we do not get your NEM application started asap we may not hit the “grandfather date” for this program and we will be subject to NEM 3.0.
There is still time to qualify your solar project for the more lucrative NEM 2.0 program, but we will have to have your NEM Application submitted in time to qualify. This means we cannot delay any further on your project.
For more information, please see slideshow: 5 Things You Need to Know About NEM 3.0
For any further questions please reach out to a Revel Energy commercial solar developer today.”Back to News