Tesla Inc (TSLA) Comes Back To Nevada As Solar Credit Bill Passes

17 June, 2017, 09:33 | Author: Celia Hoffman
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In his last actions stemming from the just-concluded 2017 legislative session, Gov. Brian Sandoval on Friday vetoed four bills, including a measure that would have increased Nevada's reliance on green energy.

Under the revised rules, rooftop solar customers will be compensated at 95% of the retail electricity rate for energy sent back to the grid.

Sandoval's decision to sign the bill comes after voters passed the Energy Choice Initiative in 2016 calling on lawmakers to split up the state's electrical market and end the utility company's legal monopoly. History will show that today Nevada took an important step that will return it to its rightful spot as a top solar state. Net metering, however, won't be what it once was. The credit declines overtime in 7 percent increments for every 80 megawatts of rooftop solar energy deployed, until it reaches a floor rate at 75 percent of the retail rate.

Nevada is resetting energy credits that officials say will make solar panels a more affordable option for home-owners and make the state a leader in clean energy production.

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The move, which led to a 32 percent decline in solar installation jobs in the state past year, was broadly unpopular with Nevada residents.

Senate Bill 146, which requires certain electric utilities in Nevada to file with the Public Utilities Commission of Nevada a distributed resources plan.

Assembly Bill 474 -The Controlled Substance Abuse Prevention Act, which Sandoval introduced during his State of the State address in January.

The Senate approved the measure 17-4 and the Assembly approved the measure 30-12.

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