California's New Electric Mobility (NEM 3.0) program, which was recently rolled out, has significant implications for our solar customers in the state, and we want to make sure you have all the information you need to get the most out of it! One key aspect of the program is the change to the buyback rate for excess solar energy produced by customers.

Under the previous NEM 2.0 program, solar customers were able to sell excess energy back to the grid at a rate of approximately $0.10 per kilowatt-hour. However, under NEM 3.0, the buyback rate has been reduced to around $0.03 per kilowatt-hour. This change is likely to have a significant impact on the economics of solar adoption for many customers.

To mitigate the impact of this change, the NEM 3.0 program includes a "grandfathering" provision, which allows customers who are already participating in the NEM 2.0 program to continue receiving the higher buyback rate. To be eligible for grandfathering, customers must apply by a certain date, which is currently set at April 13, 2023.

It's important for solar customers to be aware of the grandfathering provision and the deadlines for applying. Those who do not apply by the deadline will lose the opportunity to continue receiving the higher buyback rate under the NEM 2.0 program.

Overall, the NEM 3.0 program represents a significant shift in the way that excess solar energy is compensated in California. While it brings a range of incentives and support measures, it also includes changes that may affect the economics of solar adoption for some customers. It's important for solar customers to stay informed about the program and understand how it may affect them.