The Fly

New California ‘NEM 3.0’ proposal ‘screens positive,’ says Morgan Stanley

After California’s CPUC published a new proposed decision on "NEM 3.0," Morgan Stanley analyst Stephen Byrd said this decision "screens more positive versus the prior decision," primarily due to the removal of the large grid participation charge. The ALJ has removed the large $8/kW grid access charge and instead now indicates that "net billing tariff customers are subject to any minimum bill or fixed charge that is contained in a customer’s applicable rate," noted Byrd. Publicly traded companies in the solar energy space include Array Technologies (ARRY), Canadian Solar (CSIQ), FTC Solar (FTCI), First Solar (FSLR), JinkoSolar (JKS), Maxeon Solar (MAXN), ReneSola (SOL), Shoals Technologies (SHLS), SolarEdge (SEDG), SunPower (SPWR), Sunrun (RUN), Sunnova Energy (NOVA) and iSun (ISUN).

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