Net Metering Issue A Hot Solar Topic In California Now Spreads To Florida, Where Rooftop Solar Only Measures 1% Penetration Among Homeowner Rate Payers; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Well Positioned Because It Is Authorized Installer Of Tesla’s (NASDAQ: TSLA) PowerWall Solar Battery Storage System
California’s proposed net metering decision by the California Public Utilities Commission (CPUC) to lengthen the payback period for consumer solar systems have thrust solar batteries into a new and decisive role. Bloomberg says adoption of solar batteries will jump if the CPUC’s final decision later this month confirms its temporary proposed findings. Now the net metering controversy has spread to Florida, where rooftop solar is in its infancy with only a 1% market share among rate payers. Solar Integrated Roofing Corp. (OTC PINK: SIRC) has everything to gain — and lose — as the net metering solar issues plays out again in Florida.
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Net Metering Issue A Hot Solar Topic In California Now Spreads To Florida, Where Rooftop Solar Only Measures 1% Penetration Among Homeowner Rate Payers; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Well Positioned Because It Is Authorized Installer Of Tesla’s (NASDAQ: TSLA) PowerWall Solar Battery Storage System
Solar advocates are fighting new net metering rules by utilities under the CPUC’s utilities in solar-leading California. On the West Coast, California boats an industry-leading 1.3 million rooftop homeowners. In Florida, rooftop solar has only 1% market penetration among rate payers — but the net metering issue is the same there as the one confronting solar owners in California.
By using solar renewable batteries, rooftop solar owners can shorten the payback period for new solar systems. Instead of jumping to some 11 years under new net metering laws — they would instead decline to 6-8 years. That’s vital because typically consumers primarily buy solar when the economic payback period is eight years or less, Bloomberg says. That’s great news for Solar Integrated Roofing Corp. (OTC PINK: SIRC) because it is an authorized installer of Tesla’s (NASDAQ: TSLA) PowerWall solar storage battery systems.
Solar advocates in California slam the new proposed decision, in a report by CNBC. In locally reported news by KPBS, California solar supporters plan to fight the proposed decision. Solar advocacy groups want California Governor Newsom to have an ‘intervention’ meeting with regulators in early January to change the proposed ruling before a ruling becomes final later in 2022.
The California Public Utilities Commission (CPUC) is due to vote on the proposed rules by late January. It would go into effect by May. Net Metering Issue A Hot Solar Topic In California Now Spreads To Florida, Where Rooftop Solar Only Measures 1% Penetration Among Homeowner Rate Payers; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Well Positioned Because It Is Authorized Installer Of Tesla’s (NASDAQ: TSLA) PowerWall Solar Battery Storage System.
Now we’re seeing the same controversy pop up in Florida, where only 90,000 rate paying customers have solar out of 8.5 million rate payers — that’s just 1%.
“Subsidies are not meant to stay in perpetuity,” says Lisa Edgar, former head of the Public Service Commission (PSC). Net metering in its current form was first made a binding rule in 2008 — designed to create more solar systems.
Now in Florida and California it is being seen as a wealthy vs. low income issue. Proponents of dropping ‘increased cross-subsidization’ of sola owners by non-solar rate payers see net metering as a key issue in 2022.
Tampa state Rep. John Grant, a Republican, adds, “As the solar industry grows and more and more premium is paid to those fortunate enough to be able to produce their own solar power, it raises costs for the utilities, and that’s simply passed along as rate increases.”
Yet, firms like Tampa Bay Solar, say passage of any new rule changing net metering now in effect would cost solar installation jobs. “I can tell you that with my 30 employees, I can see at least 70% of them being no longer employed with Tampa Bay Solar,” says firm founder and president Steve Rutherford.
To solar installers like SIRC, the new net metering decisions in California and Florida in 2022 may have a silver lining. Net Metering Issue A Hot Solar Topic In California Now Spreads To Florida, Where Rooftop Solar Only Measures 1% Penetration Among Homeowner Rate Payers; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Well Positioned Because It Is Authorized Installer Of Tesla’s (NASDAQ: TSLA) PowerWall Solar Battery Storage System.
“The changes are pretty dramatic, but the market in California will remain pretty big for residential and commercial solar,” says Pol Lezcano, a Bloomberg NEF analyst. That’s an understatement because California is the largest solar state in the US with 1.3 million solar system owners.
Instead of a drop in solar usage, renewable solar batteries are being thrust into a new and decisive role in the future of California’s and Florida’s solar installation industries. If consumers can count on saving their own excessive electricity generated by solar — instead of selling to the utilities and their central grid — the payback period can be shortened again to less than eight years.
Enter SIRC as an authorized installer of Tesla’s (NASDAQ: TSLA) PowerWall solar battery system. The new California CPUC proposed ruling, if finalized in early 2022, could mean more solar and battery system sales and installations for SIRC in the new year. The result would again be more sales of solar system installations plus the added revenue from battery system sales.
The same would be true in Florida if net meting changes take effect in that state. Florida is ripe for more rooftop solar. If system owners cannot get continued no-fee access to sell excess solar-powered electricity to the utilities’ central grid, SIRC has a perfect option. It would mean more sales and installations by SIRC of the Tesla (NASDAQ: TSLA) renewable solar battery system. It would create larger sales and a word-around to the proposed and envisioned net metering solar changes.
To solar installers, such as SIRC, the final ruling has major consequences for its business. It is able to sell homeowners of investing in solar due to long-term paybacks in the form of federal tax credits and paybacks from utilities which buy solar generated-electricity.
Outside California, the decision is being carefully watched by Florida and other states. SIRC is growing a national brand and building a footprint in the US alternative energy space.
CNBC analyzed the new proposed ruling and concluded that the CPUC saw solar installations through the lens of rich vs. poor. Wealthy homeowners can install solar to save electricity costs and sell excess electricity back to the central grid, right? No. Net-energy metering would enforce 80% lower subsidies and impose new, higher central grid access to solar owners.
But now, according to the new Bloomberg analysis, solar batteries can play an even more decided role in continuing the momentum of solar in California’s, the largest solar state in the nation. If utilities there rule against traditional solar electricity sell-backs to the central grid, solar batteries once again can turn a stretched 11-year payback into a lower 6-8 term.
In Florida, the same would be true. Instead of losing jobs, solar installers could add renewable solar batteries to their sales — and help solar rooftop owners generate an even earlier payback by managing and saving their own solar-generated excess electricity.
This is great news for solar installers like SIRC. Active in alternative and green clean energy installations — such as roofing and EV Charging Stations — SIRC’s core business now is solar. Homeowners are encouraged to buy solar panels and rechargeable solar batteries to store excess energy storage by SIRC.
Net Metering Issue A Hot Solar Topic In California Now Spreads To Florida, Where Rooftop Solar Only Measures 1% Penetration Among Homeowner Rate Payers; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Well Positioned Because It Is Authorized Installer Of Tesla’s (NASDAQ: TSLA) PowerWall Solar Battery Storage System.
Learn more about SIRC at https://www.solarintegratedroofing.com/corporate-governance/leadership/.
Source: Stock Market Press
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