How Businesses Can Make the Most of the NEM 3.0 Transition
A policy called NEM 3.0 is bringing changes to solar energy rates and businesses have the opportunity to save now. This policy is expected to reduce how much solar system owners are credited for electricity production. So, how can your business make the most of this situation?
The short answer is to apply for a new or expanded solar energy system before NEM 3.0 takes effect. Solar applications submitted before 2022 will lock in current credits, reducing your energy costs for up to 20 years.
How much will NEM 3.0 change rates? There are two likely scenarios. In one, credits for solar will be reduced slowly and commercial solar will be better protected. In the other, credits will be dropped immediately. Either way, acting now is a way to save.
If you want to learn more, read a policy update here.