What? Energy Rates are Different for Existing Homes Vs New Builds? (AS OF APRIL 15, 2023) Here’s What You Need to Know About California’s Net Energy Metering (NEM): Net Energy Metering describes a billing structure between utilities and homeowners with solar. Under net metering, solar owners earn credit for the excess electricity they push onto the grid when their panels are producing more electricity than their home is using. NEM 3 went into effect at midnight on April 14, 2023, So if you’re buying a new build or installing solar on an existing home, you can no longer lock in NEM 2 rates. After years of back and forth before coming to a proposed decision, on December 15, 2022, the California Public Utilities Commission (CPUC) voted unanimously to approve California’s third iteration of net metering, or NEM 3.0. Under the new tariff, NEM 3.0 will significantly reduce net metering compensation rates for new California solar customers (by about 75 percent) – you only had thro...
