NEM 3.0 presents new changes that will affect solar power system owners in residential settings. If you have rooftop solar, best practices will help you get the maximum return on your investment.
NEM 3.0 features reductions in the net metering value of California solar electricity. Although no new charges or fees are currently associated with NEM 3.0, export rates will change. The new average export rate is around $0.08 per kWh, which in many regions represents an export reduction of about 75% from rates under NEM 2.0.
Don’t Be Discouraged by Higher System Cost
Home solar power systems may be more costly due to additional components such as batteries, transfer switches, conduits, etc. However, these components will help homeowners seamlessly transfer from grid power to clean energy, in many cases at the push of a button.
Battery storage also gives homeowners the ability to save and use clean energy instead of sending it back to the grid.
Maximize the Value of Your Clean Energy
Battery storage will also give you the freedom and option of discharging energy from the battery system back to the grid when export prices are high. Under NEM 3.0, you can install a solar battery which will help you store excess solar surplus energy for on-site use. You can charge your battery system for later use while maximizing the value of your solar power.
In effect, you will also minimize what you export to your utility company through self-consumption, especially when time-of-use rates are generally higher.
However, it’s important to review the specific details of NEM 3.0 when it comes to your location. The export rates may vary based on the time of day, region, and other factors.
Consider Energy Storage
It’s a good idea to consider adding energy storage (for instance, a solar battery) to your residential solar setup. A battery will give you the ability to store excess energy during sunny periods. You can use this stored energy during peak hours or on overcast days, which will help you reduce reliance on the energy grid.
Regardless of the changes presented by NEM 3.0, you will end up saving the most over your solar energy system’s lifetime by adding battery storage.
Again, it’s important to be mindful of certain factors, including the specific rates, incentives, and energy consumption patterns concerning your region/location. We recommend consulting with your local solar experts to get the most accurate information regarding the potential payback period for your location and circumstances.
Avoid Installing an Oversized System
Installing an appropriately-sized solar power system for your home will help you avoid unnecessary and excessive expenses. Conversely, opting for an undersized system may leave you in a position where you’re not getting the most out of your setup.
Doing your research and coordinating with specialists will help ensure your solar power system is the right size for your home and your household.
Familiarize Yourself with Rules and Regulations
NEM 3.0 entails certain rules and regulations – solar programs such as NEM 3.0 and its prior iterations may have different terms, criteria for eligibility, as well as compensation rates.
Staying up to date about rules and regulations involving NEM 3.0 will ensure you get the most out of the program and ensure you get the most out of your investment in solar energy.
Avoid Solar Power Complacency
You can keep track of your solar power system performance, ensuring that everything is functioning at an optimum capacity. Monitoring your solar power system will make sure that you maximize your electricity generated as well as your credits involving NEM 3.0.
Ignoring your solar power system and assuming everything is up to scratch may result in decreased performance as well as decreased credits.
Adjusting your energy usage habits will also help you get the most out of your investment. You can utilize energy and use energy-intensive appliances when the sun is shining, which will help you consume more clean solar energy while simultaneously reducing your reliance on the grid, especially during higher rate periods.
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