Nevada Legislature Passes Bill to Restore Net Metering for Rooftop Solar

The Nevada State Legislature has passed a bill that's expected to revive the state's ailing rooftop solar market. The Assembly voted to approve a Senate version of the bill late Sunday night, with just a day remaining in the legislative session. The bill (AB 405) would reinstate net energy metering for residential solar projects, but at a discounted compensation rate. AB 405 would immediately allow rooftop solar customers to be reimbursed for excess generation from a solar system at 95 percent of the retail electricity rate. Over time, though, customer compensation would decline. The amended bill would create tiers, where credit rates decrease in increments for every 80 megawatts of rooftop solar generation deployed -- to a floor of 75 percent of the retail rate. A previous version of the bill lowered compensation in increments based on peak load. If signed into law, AB 405 would also allow net-metered customers to lock in their rate for at least 20 years, eliminating the risk that rates could change retroactively. Other consumer protections are also included in the bill, like the requirement for solar companies to offer a 10-year warranty and to provide transparent information as to how they calculate customer savings.