The recent solar billing plan - NEM 3.0, which took effect on April 15th, 2023, was for the customers of three investor-owned utilities (PG&E, SCE, and SDG&E) of California. The bill is now applied to the new solar systems whose connection requests were submitted on or after April 15. At the same time, the existing solar systems will move with their current billing structure. Also, the new systems with valid connection requests which are submitted before April 15 will get included in NEM 2.0.

Key Takeaways of NEW 3.0

• Solar systems commissioned before April 15, 2023, will still be subject to their current metering policy.
• The solar systems, under the bill, will earn about 75% less for the excessive electricity. 
• Under the NEM 3.0 bill, the solar battery storage system payback period will be equal to the solar-only systems payback period.
• The people of California who are considering solar energy are advised to go solar immediately (by April 14) to enjoy favorable net metering credits.

How is the NEW 3.0 making battery storage essential? 

The new solar billing plan - NEM 3.0, reduces the solar electricity value sent in the day. Moreover, it offers higher battery-storage configurations. By storing electricity in the battery and releasing it in the peak hours of necessity during the night, you will get a higher TOU or "electrification rate." This advantage comes from the support you provide during the hours when the network is more strained since no solar power is generated. The installation of EP Cube will also be beneficial.  It will offer reliable and cost-effective solutions to power up your home.

NEM 3.0 has demonstrated a shift of value from the solar-only market. As a new solar house owner, you are encouraged or advised to incorporate solar battery storage into your system. Not only will you enjoy the benefits of the emerging solar battery markets, but you will also avoid stringent policy changes for future solar-only facilities.