On February 26, Gov. Arnold Schwarzenegger signed legislation (AB 510) to allow more Californians to sell renewable electricity back to their utilities at retail prices. The legislation doubles the aggregate participation cap that California’s investor-owned utilities must buy back from net-metered customers. Previously, state law required electric companies to sign net-metering contracts for up to only 2.5% of their load, a cap that many utilities were nearing, but this legislation has increased the cap to 5%. Around 50,000 California homes currently benefit from net-metering, a number that would need to grow rapidly if the state is to reach its goal of obtaining 3,000 megawatts from rooftop solar.
Source: Los Angeles Times Report