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On December 15, 2022, the California Public Utilities Commission passed an overhaul of the net-metering program for the state’s investor-owned utilities. The changes replaced the long-standing net energy metering (NEM) tariffs with a net billing tariff (NBT) structure — colloquially known as “NEM 3.0” — which significantly reduces the compensation for behind-the-meter solar PV systems.…
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