How Governments Can Help Boosts Global Renewable Production
Recognizing the potential of customer-sited solar energy generation, researchers noted that the worldwide rooftop solar and storage sector was mostly unexplored. Falling installation prices provide a significant potential, but policy and tariff layout must allow rooftop solar penetration.
For the first time since 2014, the yearly average for solar rooftop installation prices climbed in the United States. According to experts, President Biden’s solar objectives are challenged by short-term supply chain limitations and trade issues.
According to industry experts, customer-sited solar is a big possibility that is sometimes missed. It is already being quickly adopted in several areas as a result of reducing costs and legislative actions.
It is important to embrace this change. A vast expansion is highly expected, and it is critical for decarbonizing the electricity industry. After all, it provides significant added customer benefits.
According to the most recent data, modest and consistent remuneration leads to increased customer-sited solar installation. However, subsidies must be phased down as the market matures. More significantly, fair-value payouts are more likely to sustain residential solar’s next development stage.
The regulator’s job is no longer to boost the market as renewable penetration rises and marketplaces mature. Instead, the goal is to transition to incentive systems that share advantages equally.
Grid market authorities in California are proposing a change to net energy metering regulation. It might mean a considerable reduction in credit for residential and industrial rooftop solar PV plants.
A decrease in net metering would have a negative impact on both solar-only and solar-plus-storage consumers in California. Even so, when batteries are factored in, residential solar installation rates rise by nearly three percentage points.
Needless to say, regulations that reduce export prices to below retail rates will encourage consumers to use solar power on-site. As a result, it will accelerate the rise of energy storage.