NEM 3.0 Does Not Affect Existing Solar Panel Customers Under NEM 2.0
NEM 3.0 is a new program that reduces the total credits that solar panel customers receive from the electric company when they contribute extra energy to the grid. If you already had solar panels before NEM 3.0 was instituted, you will continue to receive the same credits offered under NEM 2.0.
Understanding Net Energy Metering (NEM)
Net Energy Metering (NEM) was created to measure the electricity usage of solar panel homeowners and give them credits for the energy they contributed to the grid. Under NEM, the surplus energy is credited to their account so that they can enjoy savings for the electricity they use when the sun is not shining.
The Introduction of NEM 3.0
NEM 3.0 is the updated version of the net energy metering program, designed to address the evolving landscape of solar energy and grid integration. NEM 3.0 aims to continue promoting solar energy adoption while addressing the challenges and complexities that have emerged as solar installations have grown in popularity.
No Impact on Existing Solar Panel Customers
You get to continue to enjoy the benefits of NEM 2.0 credits from your utility company if you already had solar panels before NEM 3.0 was activated. And as you look into the future, know that NEM 3.0 favors solar panels with battery storage, so that could be something to research.
Grandfathering Provision
Regardless of the NEM 3.0 rules, if you are an existing solar customer, you will still abide by the terms of the NEM 2.0 program. Your benefits are grandfathered in and will be upheld throughout your solar panel’s lifespan for most jurisdictions. Contact a solar professional to find out the specifics of your grandfathering terms.
Contact New Day Solar
NEM 3.0 may have raised questions for some about the impact on their current solar benefits. However, existing solar panel customers under NEM 2.0 can rest assured that their current arrangements will remain unchanged.
For those considering solar installations in the future, NEM 3.0 will provide continued incentives and savings. To explore the potential of solar energy for your home or business, call our pro team at New Day Solar for a free consultation: (855) 444-6329.
Posted by New Day Solar
8 months ago / August 15, 2023
At New Day Solar, we are committed to improving the world we live in, as well as helping our community create brighter tomorrows!
With the expertise that New Day Solar provides, as well as the federal tax credits and rebates available, solar electricity is beneficial to everyone. Not only will you help conserve our environment, but you can save some money too! Solar electricity is not just a luxury, but also an investment for your home and country. Electricity is only going to get more expensive, but with help from New Day Solar, you can harness the sun’s energy and use it to your advantage.
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