California regulators have voted to reduce rooftop solar incentives for schools, apartment buildings and farmers.
The decision by the California Public Utilities Commission was made on Thursday.
The big picture: The CPUC’s decision will see owners of non-residential buildings have their payments cut for any energy they produce from solar panels.
- Apartment owners will also see a loss, with credits reduced for solar power that is used for common areas, with the exception for some low-income housing.
- The changes will only apply to new customers, but the decision represents a setback for solar companies already struggling with poor sales.
- The California Solar & Storage Association anticipates around a 20 percent loss in solar jobs throughout California by early next year.
- California regulators anticipate that the new rates for commercial properties will encourage customers to adopt battery storage and export solar during high-demand periods by improving price signals.