Net Energy Metering 2: Lock It Till They Drop It

Net Energy Metering (NEM) is a program in California that allows homeowners who generate their own electricity with solar to be credited for any excess energy they produce and send back to the grid. NEM also helps to promote the growth of the solar industry in California. As the amount of solar power being produced increases, the state is able to reduce its reliance on fossil fuels and meet its renewable energy goals by allowing residents to generate their own electricity.

NEM 2.0 is the current version of this program, and NEM 3.0 will be replacing it on April 13, 2023. The California Public Utilities Commission (CPUC) has voted to pass NEM 3.0, which replaces the previous version, NEM 2.0. One of the key changes in NEM 3.0 is that it severely reduces the credits that solar customers receive for the excess power they generate and send back to the grid, instead passing the savings onto utility companies, including PG&E, SDG&E, and SCE.

NEM 2.0 Advantages and Why You Need to Lock it in Before it’s Gone!

Under the current NEM 2.0 program, homeowners and businesses offset their energy costs by producing their own electricity. It also allows for a fast payback period averaging 5-7 years.

NEM 3.0

NEM 3.0 drastically hurts new solar customers financially. Under NEM 3.0, homeowners will receive credits for excess energy sent back to the grid at what is called the avoided cost rate. Meaning homeowners will receive about 75% less for their excess energy under NEM 3.0 than under NEM 2.0. Additionally, NEM 3.0 will have a cap on the size of the system, limiting the number of solar panels that homeowners can install.

Homeowners looking to take advantage of solar savings before they’re gone MUST TAKE ACTION before the program expires.

Get NEM 2.0 Before It’s Gone

PG&E’s baseline pricing increased by 21% in 2022 and is projected to rise even more in 2023. This makes going solar more financially beneficial to homeowners than ever before. Under the current NEM 2.0 guidelines,  homeowners can lock in the most favorable terms by installing solar NOW before the deadline. 

Getting into contract by April 13, 2023, is essential as it allows homeowners to take advantage of NEM 2.0 and enjoy solar savings for the next 20 years. NEM 2.0s fast  payback period due to current export compensation credits and current Federal Tax Incentives makes it imperative to start the process NOW. 

DC Makes It Easy – Talk to the Team Today!

DC Solar Electric makes the process easy by offering quotes and financing options and can help you navigate the process of getting grandfathered into NEM 2.0. Don’t wait. Contact us today to take advantage of this opportunity.

Don’t wait. Contact us today to take advantage of this opportunity.

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