Nevada Roof Top Solar Industry Slammed
Solar panels are a good thing right? Silently producing electricity from the sun’s energy is the power source of the future. In Nevada, the nations sunniest state, it’s a no-brainer to have a booming solar industry.
Nothing could be further from the truth.
In May of 2015 the Nevada legislature approved a new electricity rate for people who installed their own solar panels. Owners would be credited by the power company for the electricity produced by their solar panels. Electricity bills would be reduced according to the volume of power produced by the panels, for a limited time….
Now the time is up and the solar panels have been selling well. Too well, in fact. The number of solar panels was limited to the first 3% of customers who installed under this new program.
The program has changed. New rules are coming out reducing the “net metering” the panel owners are allowed, now and in the future. Net metering refers to the billing amount the solar panels are allowed to offset the power company billing. Customers will not be allowed to reduce their bills as much as was once allowed.
The results are devastating to the solar industry. Big gun Solar City has stopped doing business in Nevada. Industry officials state that up to 6,000 jobs will be lost. Thousands of attendees to the PUC (Public Utilities Commission) meeting voiced a strong opposition to the new rules limiting the benefits of the solar energy.
Mega billionaire Warren Buffet’s group bought Nevada Power last year and there is obvious concern about the profits coming from the utility.
Property owners considering installing solar panels in the sunny state of Nevada must now reconsider the benefits. New rules are coming January 2016.