11/14/2022
☀️ Residential solar stocks got sunny news out of California this week, and it sent the stocks sharply higher. The state released a plan that is expected to make rooftop solar power more expensive in the state, but won’t be as drastic as a plan that regulators had initially proposed last year
☀️California is the top state for solar in the country, with 1.5 million residential installations and the capacity to generate 12 gigawatts of power. Speedy adoption of solar has helped cut California’s greenhouse-gas emissions, but utilities have complained about the state’s rules for how solar power interacts with the electric grid. One key point of contention is a system of payments that utilities make to solar customers who send excess power from their panels back to the grid, through a process known as net metering. The utilities argue that high net metering payments cut into their budgets to upgrade the grid, forcing nonsolar customers to pay more.
The California Public Utilities Commission (CPUC) proposed cutting net metering payouts; solar advocates say the changes could decrease the payments that owners of rooftop solar receive by 75%. But the new proposal shelved an idea that was in the previous one to charge an additional monthly “grid access” fee that could have cost as much as $60.
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