Nevada Rebuffs Buffett's NV Energy - Reinstates Net Metering
Here's some good news you may have missed. Back in June, 2017, Governor Brian Sandoval signed a "Solar Bill of Rights" that reinstated net metering with a tiered system for calculating what both residential and commercial solar system owners will be paid for the excess energy they produce. The new system restores net metering rates beginning at 95% of the full retail rate.
The new legislation is a big big win for roof top solar owners who were punished in 2015 when the Nevada Public Utilities Commission reduced the rate utilities had to pay to the point where it virtually ended the program. The result of the 2015 ruling also had the effect of dramatically reducing the number of roof top solar installations.
The 2015 ruling was shepherded through the Public Utilities Commission and Nevada Legislation by NV Energy, the largest utility company in the state. NV Energy is owned by Berkshire Hathaway Energy, a subsidiary of Warren Buffett's Berkshire Hathaway... So much for Mr. GoodGuy.
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