Top 3 Takeaways
- Engagement Agreement and $3,500 fee for Engineering & SDGE/SCE Application Submittal are the only requirements to benefit from savings under NEM 2.0.
- SDGE Engineering and Submission Application must be submitted by February 28th.
- Owners will have 3 years to decide to move forward with solar construction.
Finance Options for Everyone!
- A Cash Purchase offers the lowest cost per kilowatt hour and is potentially tax deductible.
- A Solar Loan is the same as a cash purchase, offers the lowest cost per kilowatt hour, and is potentially tax deductible.
- A Lease/PPA means zero upfront costs for solar system install and potential additional roof rent revenues.
What is Net Energy Metering (NEM) 3.0?
… and why you need to go solar now!
Net Energy Metering 2.0 is a program that credits your electric bill when your solar system sends surplus energy back to the grid. Luckily, you have until April 13th to register projects under the NEM-2 rules, which includes a 20-year grandfathering period.
The system does NOT need to be installed by this deadline to qualify. Only the application for a proposed solar project must be received and acknowledged by the relevant utility (SDG&E, SCE). The project would then have a 3-year window to be installed or not installed.
The new NEM 3.0 will take effect in April 2023. Under NEM 3.0, the credit value for exported energy will have a reduction of approximately 75% in credit for power that’s exported back to the grid.