NEM 3.0

US-based inverter producer Enphase Energy has released a product that it claims can increase access to solar for legacy net energy metering (NEM) customers in California.

In Q2 2024, Enphase Energy shipped 574,000 microinverters from its US facilities, which benefit from the 45X production tax credits.

The amount of residential solar paired with a battery energy storage system (BESS) in California has increased notably under the state’s new net energy metering 3.0 (NEM 3.0) scheme.  

Residential solar installations in California since the introduction of the NEM 3.0 have been roughly equal to the amount in the prior year.

SunPower has posted a lowered customer growth for four quarters in a row and a net loss of US$247 million for FY2023.

The solar industry in California “has experienced devastating results in the form of business closures and depression-level layoffs”.

The California Public Utilities Commission yesterday (16th November) voted to approve a ‘proposed decision’ changing the state’s virtual net energy metering (VNEM) scheme.

sonnenConnect will deploy a time of use (TOU) algorithm which, in conjunction with a battery (which NEM 3.0 reportedly incentivises), “ensures customers will not pay peak-period pricing at any point throughout the year”, the company said.

US distributed solar provider Sunrun has reported GAAP revenue growth of 44% year-on-year through 31 December 2022, with a similar 40% rise in Q4 last year compared with Q4 2021. 2022 also saw record solar installations for the company.

Residential solar installer SunPower has invested in its California sales and marketing division to ensure that as many customers can apply for favourable net energy metering (NEM) 2.0 rates.