SunPower Responds to California Public Utilities Commission's Proposed Decision on State Net Energy Metering Program

Rhea-AI Summary

On December 14, 2021, the California Public Utilities Commission proposed changes to the Net Energy Metering (NEM) policy, potentially hindering consumer access to solar energy. This proposed decision could impose higher fees for solar customers, risking California's leadership in clean energy and affecting over 1.3 million homes with solar. SunPower Corp (NASDAQ:SPWR) advocates for maintaining equitable access to clean energy resources, emphasizing the importance of reliable power for all Californians during challenging times. The company expresses hope that the final decision will support California's clean energy transition.

Positive

• SunPower advocates for fair access to distributed energy resources, emphasizing the importance of NEM.
• The company plays a role in maintaining California's leadership in the clean energy sector.

Negative

• Proposed changes to NEM could create financial barriers for consumer access to solar energy.
• Higher fixed fees could deter adoption of solar technology in California.

SAN JOSE, Calif., Dec. 14, 2021 /PRNewswire/ -- Amidst the largest step taken in American history by Congress to tackle climate change with the Build Back Better Act legislation, the California Public Utilities Commission (CPUC) issued a proposed decision impacting the state's Net Energy Metering (NEM) clean energy policy. NEM currently allows California homeowners with solar to save on electricity bills, but today's proposed changes to the policy by the CPUC create financial barriers for consumer access to solar and limit progress toward the nation's clean energy goals.

California represents a third of the overall U.S. solar residential market, leading the nation with more than 68,000 solar jobs and an estimated 1.3 million homes with solar. More than 128,000 people and 600 organizations across California submitted letters to the CPUC and Governor Newsom to raise their voice in defense of the state's NEM program leading up to the proposed decision. Californians from all walks of life understand the far-reaching impact of this decision on electricity bills and grid resiliency. In response to utilities calling for high, fixed fees on solar and storage customers, SunPower Corp. (NASDAQ:SPWR), a leading solar technology and energy services provider, continues to advocate for fair access to distributed energy resources.

"At a time when wildfires and power shut offs are an ongoing problem, today's proposed decision would leave many Californians in the dark. Access to reliable power should be available to every American family, regardless of income or zip code. We believe Governor Newsom will take the right steps via the final decision on the NEM program to help keep California as a leader in our clean energy transition," said Suzanne Leta, head of policy and strategy at SunPower, about the at-risk NEM program that has allowed California to be a leader in the fight against climate change.

About SunPower  
Headquartered in California's Silicon Valley, SunPower (NASDAQ:SPWR) is a leading Distributed Generation Storage and Energy Services provider in North America. SunPower offers the only solar + storage solution designed and warranted by one company that gives customers control over electricity consumption and resiliency during power outages while providing cost savings to homeowners, businesses, governments, schools and utilities. For more information, visit www.sunpower.com.   

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SOURCE SunPower Corp.

FAQ

What is the impact of the CPUC's proposed decision on NEM for SPWR shareholders?

The proposed decision may negatively affect SPWR by imposing higher fees on solar customers, potentially reducing solar adoption.

How significant is California's solar market for SunPower (SPWR)?

California accounts for a third of the U.S. residential solar market, making it crucial for SPWR's business.

What is SunPower's stance on the proposed changes to NEM?

SunPower opposes the proposed changes, advocating for fair access to solar energy and expressing concern about their impact.

What did SunPower's head of policy say about the NEM program?

Suzanne Leta stated that the proposed decision could leave many Californians without access to reliable power.

What actions have Californians taken regarding the NEM program?

Over 128,000 individuals and 600 organizations submitted letters to the CPUC opposing changes to the NEM program.