PSE Extends Net Metering Benefits!
2023 marked another record-breaking surge in solar installations! Puget Sound Energy (PSE) now boasts over 22,000 net-metered customers with a generating capacity of 179 MW. Which effectively meets 4% of PSE’s peak demand during 1996 – a remarkable landmark for solar energy development in Washington state.
Why 4% of 1996 Peak Demand Matters
Reaching 4% of Puget Sound Energy’s (PSE) peak demand through solar installations is a crucial milestone mandated by Washington State legislation (Engrossed Second Substitute Senate Bill 5223). It allows utilities reaching this threshold before June 30, 2029, to consider alternative rate structures subject to regulatory oversight. Fortunately, PSE is extending the Net Metering rules as they exist through December 31, 2025!
What is Net Metering with PSE?
Net Metering is the agreement utility customers enter with their electric utility provider to save money on their electricity bill with solar energy systems. Any excess electricity generated is fed back into the grid, spinning your meter backward and earning credits that offset future electricity consumption, effectively lowering overall energy costs. The rate at which you export energy is the same as the rate at which you purchase, a 1:1 rate. These credits roll over monthly but reset annually on March 31, aligning with solar generation patterns to optimize the utilization of solar-generated electricity.
Net Metering Extension Benefits
In light of this, we’re thrilled to share some important updates for the solar industry and prospective customers. Effective February 29, 2024, PSE has revised its Net Metering Rate Schedule 150 to ensure continued support and clarity for those seeking solar energy systems to reduce their electricity bills and live more sustainably.
Here’s a breakdown of the fundamental changes:
1. Extended Availability:
The current net metering terms will remain available to PSE customers applying for interconnection until December 31, 2025, or until a replacement rate schedule is introduced – whichever comes later.
2. Lifetime Support:
Customers with solar systems installed under Schedule 150 Net Metering will continue to receive the same net metering service throughout their system’s operation.
Future Net Metering Schedule and System Changes
When a replacement rate schedule is introduced in the future, it will apply to new interconnection applicants. Existing Schedule 150 net metering customers or those moving into properties already net metered under Schedule 150 will see their terms remain the same. Note that changes to an approved net-metered system, such as adding more solar panels, may require a new application under new terms.
Go Solar Today with a Local Installer!
At Northwest Electric and Solar, we’re passionate about empowering our community to embrace renewable energy solutions like solar. If you’re considering switching to solar and want to explore your options further, please get in touch with us for a free solar consultation and estimate. Together, we can create a solar energy system that meets your needs and helps you save money now and over the next 25 years. Find out how much you can save today!
