Buffett's Utility Gets Win Over Musk's SolarCity on Credits
- Nevada regulators cut payments for excess solar rooftop energy
- SolarCity has said the new rules would force it to leave
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Nevada regulators decided to cut the credits that rooftop solar customers get when they sell power back to the grid, handing a victory to Warren Buffett’s local utility.
The Public Utilities Commission of Nevada voted 3-0 on Tuesday to phase in changes to the state’s so-called net metering payments over four years. The reduced rates would apply to all rooftop customers. The credits have been a strong incentive for individuals and businesses to install their own solar panels in recent years.