Attention California homeowners, there’s a big change coming that could affect your ability to save money with solar energy! On April 13, 2023, California’s current net energy metering (NEM) 2.0 program will be replaced by NEM 3.0, and the difference could be huge. NEM is the program that allows homeowners with solar panels to sell excess energy back to their utility company and receive credits on their utility bill. However, under NEM 3.0, the value of those credits could be reduced by up to 75% compared to NEM 2.0. This is a major shift that could have a significant impact on your finances.

The reduction in net metering is a result of several factors, including the declining costs of solar panel installation and the increasing demand for renewable energy sources. The California Public Utilities Commission (CPUC) believes that NEM 2.0 was too generous to solar customers and did not provide enough benefits to non-solar customers. Therefore, they are implementing NEM 3.0 to provide a more balanced approach to solar energy and incentivize the adoption of other renewable energy sources.

While solar energy will still be an option for California homeowners under NEM 3.0, the reduced credits could make it more challenging to save money on electricity bills. It’s important to act quickly if you’re considering solar energy for your home. You may want to consider installing solar panels before NEM 3.0 takes effect on April 13, 2023, in order to take advantage of the more generous credits available under NEM 2.0.

Don’t let this opportunity slip away! With NEM 3.0 just around the corner, it’s time to act now if you’re considering solar energy for your home. By installing solar panels before April 13, 2023, you can take advantage of the more generous credits available under NEM 2.0 and save money on your electricity bills for years to come. The clock is ticking, so don’t wait!