California’s CPUC Utilities Commission ‘Punts’ On Solar Net Metering Issue, Postpones Key Nationally-Watched Decision On Rooftop Solar Payments And Ac-cess Charges Until ‘Further Notice’; Delay Is Potentially Great News For Solar In-tegrated Roofing Corp. (OTC PINK: SIRC) And Other Solar Installers
In a sign that the California Public Utilities Commission (CPUC) is feeling the heat of a nationally closed watched decision on solar net metering 3.0, the Commission ‘punted’ and postponed indefinitely a final decision. An administrative law judge notified all parties involved that it would not take the matter up at its next meeting. That’s not an outright victory for solar installers such as Solar Integrated Roofing Corp. (OTC PINK: SIRC), but it potentially means that the final far-reaching decision will not be taken lightly and may result in a compromise mixed-decision.
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California’s CPUC Utilities Commission ‘Punts’ On Solar Net Metering Issue, Postpones Key Nationally-Watched Decision On Rooftop Solar Payments And Access Charges Until ‘Further Notice’; Delay Is Potentially Great News For Solar Integrated Roofing Corp. (OTC PINK: SIRC) And Other Solar Installers
Prior, in a preliminary decision, it was recommended to the CPUC that it should adopt NM3.0. There was an outcry from solar advocates — including Elon Musk, founder of Tesla (NASDAQ: TSLA) and former Governor Arnold Schwarzenegger.
Net metering 3.0 would require the state’s 3.1 million rooftop solar homeowners and small businesses to accept a new and much lower payment for solar-generated electricity system owners would try to sell back to the central power grid of utilities.
The central issue is that solar is seen as being subsidies by low income rate payers. New net metering 3.0 is seen as a way to make energy costs between rooftop solar system owners and low income rate payers more equitable.
The indefinite postponement is interpreted by Tyson Siegele as “tells me that the commission is going to take a long, hard look at how to make this decision better, how to make it more equitable for everyone.” Siegele is energy analyst for the pro-solar ‘Protect Our Communities’ group.
In addition NM3.0 would force solar system owners to pay a monthly new ‘access’ fee to reach the grid. In other words, solar power would be far less attractive to buy — the payback would be far longer — and it would serve as a disincentive to buy solar. That flies in the face of a California state mandate law requiring most new residences and business buildings be powered by solar.
Impact would be kicked in after 15 years of interconnection to the utilities — meaning a 10 year existing consumer would feel the new net metering 3.0 after five more years.
This is not just a statewide decision, because controversial new net metering has already spread to Florida — and other states are watching California’s CPUC final decision. California’s CPUC Utilities Commission ‘Punts’ On Solar Net Metering Issue, Postpones Key Nationally-Watched Decision On Rooftop Solar Payments And Access Charges Until ‘Further Notice’; Delay Is Potentially Great News For Solar Integrated Roofing Corp. (OTC PINK: SIRC) And Other Solar Installers.
The net metering issues in California and Florida can be overcome with management of reusable solar batteries. Solar system users can store energy from solar and use it when utilities charge top rates — during midday hours. Users can also used stored energy in batteries on cloudy days and at night.
While Wall Street analysts are watching solar net metering 3.0 decisions closely, rechargeable solar batteries can address the net metering issues, if necessary. . These batteries are an important buffer for solar system owners. They can store excess electricity themselves — or share it with other solar system owners in community energy-sharing groups.
Partnerships are already forming between solar/roofing installers and solar battery manufacturers. Recently, Enphase Energy (NASDAQ: ENPH), a closely-watched entity in the solar sector by analysts, announced a new partnership has been reached with Semper Solaris (SS). SS is one of the fastest-growing solar, home battery and roofing contractors in the U.S.
The partnership is interpreted as addressing the need for SS to address solar client homeowners’ demands for solar batteries. It will also be the answer to new California utility proposed policies on net metering. California’s CPUC Utilities Commission ‘Punts’ On Solar Net Metering Issue, Postpones Key Nationally-Watched Decision On Rooftop Solar Payments And Access Charges Until ‘Further Notice’; Delay Is Potentially Great News For Solar Integrated Roofing Corp. (OTC PINK: SIRC) And Other Solar Installers.
The impact on net metering changes would mean that solar system homeowners — and potential buyers — would require solar battery systems to work around a possible decision by utility companies to pay less for excess electricity they buy solar customers — plus new central grid access fees charged to solar system owners.
SIRC recently said they were sourcing solar batteries from this domestically-based Company as a way of end-running supply chain issues. SIRC acknowledges that solar management batteries are now a key element in selling solar systems to homeowners.
Financial performance is another reason analysts should keep an eye on the growth of Solar Integrated Roofing Corp. (OTC PINK: SIRC). It reported recently for Q3 of fiscal 2022 sales of $48.2 million, a YOY 964% jump. Also in the report it showed a $25.2 million operating profit. That represents 52% of total revenues in Q3 fiscal 2022.
In its acquisition pipeline are seven more companies, SIRC said recently. SIRC aims to buy them in all-cash transactions, without diluting the stock.
SIRC is well positioned because it is an authorized installer of Tesla’s (NASDAQ: TSLA) PowerWall Rechargeable Solar Battery Systems.
Homeowners and small business potential buyers of solar systems can see clearly that 2022 offers them a rare chance to beat central grid electricity increases. They can also move now before federal tax credits for solar drop from the current 26% to 22% in 2023.
Central grid electricity is climbing in cost — making the payback period for solar less than eight years. Solar buyers can install systems for next to nothing if they do it now.
California’s CPUC Utilities Commission ‘Punts’ On Solar Net Metering Issue, Postpones Key Nationally-Watched Decision On Rooftop Solar Payments And Access Charges Until ‘Further Notice’; Delay Is Potentially Great News For Solar Integrated Roofing Corp. (OTC PINK: SIRC) And Other Solar Installers
Learn more about SIRC at https://www.solarintegratedroofing.com/corporate-governance/leadership/.
Source: Stock Market Press
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