On December 15, 2022, the California Public Utilities Commission (CPUC) voted on and passed the Net Billing tariff (NBT, also commonly referred to as NEM 3.0). NEM 2.0 is scheduled to sunset 120 days from the final vote — so plan for April 13, 2023 to be the last day to submit an interconnection application to enroll into NEM 2.0.
Very little changed between the NEM Proposed Decision published last month (which we analyzed here) and the final version that passed. It still maintains a reduction of 55%-80% on the credits customers receive for the extra solar energy they produce and send to the grid. It also still includes a $14-$16 monthly charge from the mandatory switch to a time-of-use rate for solar customers, uses the Avoided Cost Calculator (ACC) to determine and calculate 576 different NEM credit values in a year, and makes no retroactive changes for NEM 1.0 and NEM 2.0 customers.