Why Energy Storage Will Be a Boon for Residential Solar Installers
Net metering was a key factor in driving the residential solar market to where it is today, but its days are likely numbered across the U.S. Utilities nationwide are having success at convincing state regulators that they shouldn't have to credit homeowners for the surplus power they export to the grid at the same rate they're charged when they consume power from it, which makes sense now that solar power systems are on around 1 million homes. Hawaii, the state with the most rooftop solar per household, has long paid consumers less than the retail rate for electricity, and California recently followed suit.
But when utilities choose to pay less than the retail rate for rooftop-generated solar electricity, they give homeowners an incentive to save their short-term surplus and use it later, performing arbitrage on the difference between the two rates. To use solar energy at a later time (for example, at night) homeowners need energy storage systems. Providing those could be the next growth driver for rooftop solar companies.
Image source: Tesla.
Source: Fool.com
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