Have you heard of NEM 3.0?
NEM 3.0 is a new solar power policy recently approved by the California Public Utilities Commission, which will, amongst other things, affect the return rates of generated excess energy, reducing the amount of returns a homeowner can get from using residential solar panels by almost 75%.
Knowing that the new policies will make solar power less profitable, you may be wondering why this is the best time to install residential solar panels, and while the answer is a little complex, we promise you you’ll see our side by the time this article is over.
Let’s get started!
NEM 2.0 vs. NEM 3.0
The biggest thing you need to keep in mind about NEM 3.0 is that it’s not retroactive, which means that the changes it establishes won’t apply to anyone who installs residential solar panels before April 13th, 2023, and while the window of opportunity is admittedly small, this also applies to permits and even completed inspections.
This means that, as long as you provide compelling evidence that you’re in the process of installing residential solar panels, your solar power grid will operate under NEM 2.0, complete with its higher return on investment.
What’s more, further down the line, you’ll be able to apply some of the benefits from NEM 3.0, including eliminating solar taxes, meaning you’ll save even more money if you play your cards right.
How do I get grandfathered under NEM 2.0?
To qualify for NEM 2.0, it is crucial to submit a comprehensive and precise interconnection application to the utility before April 15th, 2023. In addition, it is worth noting that the utility account owner must sign the interconnection document at the point of sale. This step is essential to ensure that the application process runs smoothly and that you are grandfathered into NEM 2.0.
We understand that navigating the interconnection process can be daunting, but our team at EZ Solar & Electric is here to guide you every step of the way!
Remember that once your residential solar grid is grandfathered under NEM 2.0, you won’t be able to make any big changes to it, so if you want to do any extensive upgrades, you must get the design, plans, and permits before sending your paperwork.
Working with EZ Solar & Electric
If you want to make the jump to solar power before NEM 3.0 comes into play, then your best bet is working with EZ Solar & Electric.
EZ Solar & Electric has delivered exceptional turnkey solutions for electrical, solar, and roofing needs since 2010. With over two decades of experience in the industry, our team is dedicated to providing top-notch services to our clients. We take pride in our work and strive to exceed our client’s expectations with every project we undertake—Trust EZ Solar & Electric for all your electrical, solar, and roofing needs.