Breaking: The sun continued to shine this week. Thanks to this major win for the solar industry, the future of solar is looking bright. A victory for solar shoppers in California, progress for New Mexico’s solar tax credit and the dominance of renewables over natural gas are the headlines you need to know about from this week’s Solar Energy News.
California Public Utilities Commission Preserves Net Metering
The results are in on the biggest solar decision of the year. On Thursday, the California Public Utilities Commission (CPUC) voted to preserve net metering in the Golden State. In the months leading up to the vote, utilities, solar installers, and industry advocates all submitted proposals as the CPUC evaluated the net metering program to determine an equitable solution. The decision is a signal to regulators across the country and an encouraging development for California homeowners who are ready to go solar.
New Mexico a Step Closer to Extending State Tax Credit
Political momentum gained speed for solar in the Land of Enchantment this week: New Mexico’s House Energy and Natural Resources Committee has taken the first step towards extending state tax credits for solar through 2024. Committee members advanced a bill to extend the 10 percent tax credit, which will now go to a vote before the House. According to the bill’s sponsors, the number of New Mexican solar installations grew by an average of 81 percent annually between 2010 and 2013, demonstrating the importance of the tax credit for homeowners and small businesses alike.
PV Energy Could Supply 20 Percent of Global Power by 2027
The cost of solar panels will continue to drop by ten percent every year, according to a new analysis conducted at Oxford University. Researchers predict that solar will supply a fifth of the world’s total power needs by 2027 thanks to technological innovations in the industry. The simple takeaway: consistent technological breakthroughs bring costs down and lower prices for the prospective solar shopper. There’s no question why fossil fuel stakeholders are worried despite incredibly low oil prices. Remember: whenever there’s a huge spill of solar energy, it’s just called a nice day.
Thanks to Tax Credits, Renewables Have the Edge Over Natural Gas
Everybody is talking about the impact of Congress’s recent tax credit extensions for wind and solar. But other than making it easier for potential homeowners to go solar, what impact does the extension have on the world’s energy future? The answer: it gives wind and solar a definitive edge over natural gas. While natural gas is the “lesser of two evils” among fossil fuel options, wind and solar have taken over the conversation as a pragmatic and efficient win-win solution for the world’s economy and the environment. The tax credit extension was more than just a victory for wind and solar – it’s a dynamic power shift for the world’s energy future (pun intended).