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New analysis from Wood Mackenzie, a Verisk business (Nasdaq: VRSK), shows that California’s newly proposed net energy metering tariffs (NEM 3.0) would severely reduce residential solar’s value proposition. According to Wood Mackenzie’s new forecast scenario, the California residential market would be cut in half by 2024.
Proposed legislation to extend the investment credit tax (ITC) would have a profound impact on the US solar industry, Wood Mackenzie analysis shows, potentially increasing deployments by 44% over the next decade. But the extension, currently before Congress as part of a budget reconciliation package, will not be enough to achieve 80% carbon-free electricity generation by 2030.
The US state of New York today awarded two major offshore wind contracts to Norwegian energy company Equinor, and Sunrise Wind, a joint venture between Denmark’s Ørsted and US utility Eversource.
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