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impose new monthly fees. Some analysts predicted that the last NEM 3.0 proposal would cut California’s solar market in half by 2024. Most of the debate has centered on this aspect of the CPUC proposal.
While most associate NEM with traditional homeowners, tenants have also been able to reap the benefits through Virtual Net Energy Metering (VNEM) programs. These programs allow property owners to craft agreements with tenants to share the credits for energy sold back to the grid. Any abrupt changes to NEM would prove devastating to this.
For low-income multifamily properties that participate in solar incentive programs like the Solar on Multifamily Affordable Housing (SOMAH) and Multifamily Affordable Solar Housing (MASH), changing the rules for homeowners today could open the door to similar changes to existing VNEM rules within the next few years.
Affordable housing projects that do not qualify for the SOMAH or MASH programs will see new monthly fees and cuts to the rates they receive for excess power right away. This would effectively shut down all solar development on apartment buildings that are not federally subsidized.
Plain and simple, net metering provides a shield against high utility costs for renters, who, as a group, tend to earn less than homeowners. Increasing utility costs for tenants would be a challenge for families already struggling with rent prices that have reached unparalleled heights. Out of the 25 most expensive U.S. rental markets for a single-bedroom apartment, nine of them can be found in California.
In this way, the NEM 3.0 proposal exacerbates the precarious situation in which many renters already find themselves. No renter should have to choose between paying rent and their utility bill. Net metering is a little-known but impactful way to put tenants on the best path to financial success.
Sadly, energy costs are likely to rise. The latest turmoil overseas and record inflation will trickle down to low-income and minority renters in the form of increased electricity costs, forcing them to pay more to power their homes. Regulators should not seek to make energy bills higher for tenants in units with rooftop solar.
In Florida, Republican governor Ron DeSantis recently vetoed a similar proposal because it would
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