Rooftop solar installation company SolarCity says it will stop selling and installing panels in Nevada after energy regulators decided to change the rate structure for solar customers.
SolarCity issued a statement Wednesday saying the Nevada Public Utilities Commission "effectively shut down" the rooftop solar industry with Tuesday's decision, which is expected to raise rates over a five-year period for so-called net metering customers.
That includes about 17,000 Nevada customers with solar panels who sell excess energy from their systems back to NV Energy. The commission says the change will reduce the cost-shift from rooftop solar customers to non-solar customers, and reflects the declining price of solar-generated power.
Some people paid for their panels outright hoping to save money in the long run.
So what about the people who lease solar panels that they may need to be eventually removed?... Read More