Solar is probably the most desirable upgrade for buyers. Hat tip to Eddie89 for sending this in:

Defying overwhelming public opposition, state officials voted in late 2022 to make drastic changes to California’s rooftop solar rules (called “net energy metering”).

Solar users under NEM3 will get 75% to 80% less from the utility for the extra solar energy they share with the grid. Compensation for that extra energy will go from an average of $.30 / kWh to around $.05 / kWh. NEM3 solar users will also be put on a rate plan with higher evening electricity rates. These changes will extend the payback period for a solar investment from an average of six years to more than ten years.

Here are some FAQs about the changes, often referred to as NEM3:

https://solarrights.org/faqnem3/

What if I have solar and sell my home?

If you are a NEM1 or NEM2 customer and you sell your home, the new owner will take over the remainder of your 20-year lock-in period.

However, this will be different under NEM3, which has a shorter, 9-year lock-in period that is lost when a home is sold. This is another incentive for a home seller that has a fully paid off solar system that’s under either the NEM1 or NEM2 rules. The buyers get more solar bang for their bucks!

author avatar
Jim the Realtor

Pin It on Pinterest