ETFOptimize | High-performance ETF-based Investment Strategies

Quantitative strategies, Wall Street-caliber research, and insightful market analysis since 1998.


ETFOptimize | HOME
Close Window

California regulators halt NEM3.0 plan, at least for now

The proposal is widely opposed by solar advocates.

California utility regulators put an indefinite hold on plans to vote on a proposed plan to revise the state’s net energy metering rules that would impact roughly 1.3 million rooftop solar customers.

News reports said that an email from an administrative judge said that the proposed decision would not appear on the Public Utilities Commission’s voting meeting agenda “until further notice.” It had been slated for consideration on January 27, but that date slipped to February 10. Now the vote is off the table for the foreseeable future.

The email reportedly said that the CPUC’s new president, Alice Busching Reynolds, had asked for more time to review the record and consider revisions to the proposed decision based on comments.

The proposal, issued by energy regulators December 13, received backlash from solar companies, renewable advocates, and California Gov. Gavin Newsom.

In addition, consulting firm Wood Mackenzie released analysis saying the proposed net metering tariff revisions would cut the state’s residential solar market in half by 2024.

The California Solar & Storage Association criticized the proposal when it was first made public, saying that regulators appeared to have “sided with PG&E and the other large investor-owned utilities” in an approach that “will make rooftop solar and customer-owned batteries more expensive and therefore out of reach of working- and middle-class consumers.”

The association said that an early read of the proposal suggested that the rate paid for solar exported to the grid “appears to be approximately 5 cents/kWh,” down from 20-30 cents/kWh for residential customers. The association said that the proposed plan includes no transition glide path, meaning that the full reduction likely would take effect as soon as NEM-3 is implemented.

Charlie Coggeshall, senior analyst and regional director for Coalition for Community Solar Access, called the proposed decision “deeply disappointing.” He said in a statement it would delay action on developing a “workable community solar program in California” and “undermines” the state’s distributed energy market.

“We urge the Commission to reconsider and reassess the benefits a thriving community solar program can bring to California before it issues a final decision.”

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.


 

IntelligentValue Home
Close Window

DISCLAIMER

All content herein is issued solely for informational purposes and is not to be construed as an offer to sell or the solicitation of an offer to buy, nor should it be interpreted as a recommendation to buy, hold or sell (short or otherwise) any security.  All opinions, analyses, and information included herein are based on sources believed to be reliable, but no representation or warranty of any kind, expressed or implied, is made including but not limited to any representation or warranty concerning accuracy, completeness, correctness, timeliness or appropriateness. We undertake no obligation to update such opinions, analysis or information. You should independently verify all information contained on this website. Some information is based on analysis of past performance or hypothetical performance results, which have inherent limitations. We make no representation that any particular equity or strategy will or is likely to achieve profits or losses similar to those shown. Shareholders, employees, writers, contractors, and affiliates associated with ETFOptimize.com may have ownership positions in the securities that are mentioned. If you are not sure if ETFs, algorithmic investing, or a particular investment is right for you, you are urged to consult with a Registered Investment Advisor (RIA). Neither this website nor anyone associated with producing its content are Registered Investment Advisors, and no attempt is made herein to substitute for personalized, professional investment advice. Neither ETFOptimize.com, Global Alpha Investments, Inc., nor its employees, service providers, associates, or affiliates are responsible for any investment losses you may incur as a result of using the information provided herein. Remember that past investment returns may not be indicative of future returns.

Copyright © 1998-2017 ETFOptimize.com, a publication of Optimized Investments, Inc. All rights reserved.