After yet another cut to net-metering compensation by state government, REV queried the Public Utility Commission’s database for Certificate of Public Good applications for solar net-metering in the first six months over each of the last four years to understand the impact these cuts are having on the ground. Here are what the numbers show in terms of application and total proposed capacity:
So what are the big take-aways?
- Applications for smaller net-metered have fallen by almost 10% relative to the same period in 2019. These are largely residential systems and the drop in applications represents a missed opportunity to support Vermonter’s who want to go solar and advance our climate goals.
- Larger net-metered installations have fallen off a cliff. These systems compete for financing with a host of other investment opportunities so are particularly sensitive to financial returns. They are also the systems that schools, businesses, municipalities, and low-income Vermonters use to access renewable energy so their loss has outsized consequences.
For net-metering incentives matter. If the state continues to make it less affordable to go solar, fewer Vermonters will. As we ask Vermonters to go electric, that’s not good news.