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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]
California's electricity rates are among the highest in the United States as a result of the changing energy mix within the state, including aggressive construction of new natural gas power plants. [11] As of 2021 California's electricity costs were 19.7 cents per kWh. [18]
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).
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
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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