Bolstering our case that commercial solar continues to expand even as direct subsides fade into the sunset, last week the California Public Utilities Commission released its annual progress report on the California Solar Initiative (CSI), showing huge growth across the state. Key findings:
- At the end of Q1 2013, California had roughly 1,629 megawatts of residential and commercial solar at an incredible 167,878 customer sites in investor-owned utility territories.
- The CSI program has installed 66% of its total program goal, with another 19% reserved in pending projects.
- Solar uptake has increased despite waning subsidies, as significant reductions in the cost of solar and new affordable financing options have made for compelling customer economics. A record 391 megawatts were installed statewide in 2012, growing 26% from 2011.
- Net metering and the federal Income Tax Credit (ITC) are playing a larger role in individual system economics as the CSI program winds down. All but 92 megawatts, or 6% of California’s small-scale solar, is signed up for net metering.
- As of March 2013, PG&E and SDG&E have 24 projects with a combined 916 kilowatts capacity enrolled in the relatively new “virtual” net metering program, which allows electric load at multiple meters to be offset by solar generation at a single meter elsewhere, so long as all meters are behind the same utility service delivery point.
For details or more information on saving money with solar on your business today, please contact REC Solar.