Changes are Coming to California's Net Metering Tariffs: Businesses Must Act Before April 2023 to Take Advantage

SAN DIEGO, Jan. 10, 2023 /PRNewswire/ -- VECKTA Corporation, the platform enabling commercial and industrial business leaders to deploy onsite energy systems with confidence, is helping California companies take advantage of Net Energy Metering (NEM) 2.0 before the tariff expires this April.

Net metering is a financial and billing mechanism that allows businesses with solar or other renewable energy systems to sell excess energy back to the grid. In California, commercial net metering allows companies to receive credit on their utility bills for the excess renewable energy that their systems export. This excess energy is typically measured in kilowatt-hours (kWh), and the credits, which can be significant, can be applied to offset the cost of the business's future energy usage.

In a recent unanimous decision, the California Public Utilities Commission (CPUC) voted to eliminate the current net metering regime, known as NEM 2.0. The new rule, NEM 3.0, eliminates over 75% of the financial incentive.

Gareth Evans, Founder, and CEO of VECKTA says, "Energy provided by our utilities is only going to get more expensive and less reliable. Through a well-designed and contracted onsite energy system you can create a more profitable and sustainable business now and for the long term. The new net metering rule and tariffs will limit your financial upside and you should act now to be legacied in and maximize your financial benefits."

California businesses who want to secure favorable benefits of NEM 2.0 need to have an Interconnection Agreement submitted to their utility prior to April 14th, 2023 in order to take advantage of the current agreement for the next 20 years. Business leaders interested in assessing their options for onsite energy are encouraged to contact VECKTA to schedule a free consultation and utilize the VECKTA platform to quickly and competitively assess and contract the optimal onsite energy solution within the constrained timeframe.

VECKTA is the onsite energy marketplace platform where companies can access vetted capital, construction, & equipment suppliers all in one place. Due to an aging grid, skyrocketing utility costs, decreased reliability, and slow deployment of low-carbon options, businesses must have an energy strategy. VECKTA's platform allows businesses to baseline and assess their energy situation today, prioritize where they will gain the greatest return on investment, design customized energy solutions around their business objectives, leverage a transparent and competitive marketplace to finance and deploy their optimized energy solution and then monitor and verify its performance - in one integrated platform. Business leaders can make well-informed decisions, creating a win for the business, a new customer for the supplier, and a more habitable planet for all. We are revolutionizing the distributed energy industry.

SOURCE VECKTA