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Credits are typically $0.05 per kWh, but when electricity demand is high it can spike up to $2.87 per kWh. [82] California's net metering policy was rated 19th by Solar Reviews in 2021, California receives a B only because electricity credits include charges and don't pay at full retail rate but at marginal cost. [83]
Subsequently, the rate would fall to $0.13/kWh. [20] Throughout 2017, California implemented "Net Metering 2.0" where the compensation to solar customers is close to retail rates. The policy also moved time-of-use (TOU) rates for residential customers. Additionally, the rates were updated to reflect "conditions on California's grid." [21]
This guarantees a fixed price of $0.42 CDN per kWh for PV and $0.11 CDN per kWh for other sources (i.e., wind, biomass, hydro) over a period of twenty years. Unlike net metering, all the electricity produced is sold to the OPA at the SOP rate. The generator then purchases any needed electricity at the current prevailing rate (e.g., $0.055 per kWh).
Utilities are doubling their 5-year electricity demand projections—but high interest rates and California’s NEM 3.0 have U.S. solar in a holding pattern Chris Hopper May 20, 2024 at 6:10 AM
Last year, the State of California slashed the utility bill credit for families who send solar power back to the grid by more than 70% (installations dropped by more than three-quarters as a result).
Bernadette Del Chiaro, the executive director for California Solar and Storage Association, said a solar panel system for a single family home typically costs $3.75 per watt.
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