Nevada State Assembly Passes Revised Solar Bill
May 24 2017 - 5:04PM
Business Wire
Merging of key solar industry legislation
creates a unified path forward for consumer protection and fair
value net metering rates
Sunworks, Inc. (NASDAQ: SUNW), a leading provider of solar power
solutions for agriculture, commercial, industrial (ACI), and
residential markets, praised the passage of Nevada Assembly Bill
405 (AB405) by the state assembly. The State Assembly passed the
bill by a vote of 38-2. AB405 will now be under consideration by
the State Senate which has 13 days remaining in the 2017
legislative session.
The new AB405 includes a “Solar Bill of Rights” provision, which
reinstates net metering with a new system that uses a tiered
approach for calculating the export rate of electricity based on
the overall penetration of rooftop solar installations throughout
the state. The bill restores net metering rates starting at 95% of
the full retail rate for excess electricity produced by
consumers.
The inclusion of a net metering solution is considered a victory
for rooftop solar businesses which have experienced economic
uncertainty for the last two years due to a combination of policy
changes and reductions in net metering rates by the Public
Utilities Commission. The changes, which took effect in 2015,
virtually ended net metering programs in Nevada and resulted in
heavy job losses for those in the solar industry. With the passage
of the modified AB405, rooftop owners will return to the existing
rate classes of all other consumers, thereby protecting them from
discriminatory rates, charges, and fees.
AB405 protects consumers from inaccurate public utility rates,
minimum warranty requirements, and other contractual disclosure
terms. The bill is intended to enhance consumers’ understanding of
variables in their investment options and make clearer comparisons
between products.
Sunworks noted that it is already in compliance with all of the
legislation’s terms for consumer protection and transparency in
Nevada. In addition, Sunworks is currently restructuring its
proposal process to reflect the modified net metering
structure.
Sunworks Regional Vice President of Sales, Casey Coffman, said,
“We’re pleased with the passage of the revised bill. We believe the
bill provides greater transparency for consumers and businesses and
will enhance Nevada’s solar industry through a sensible rate
structure and will lead to accelerated growth in solar-related
jobs.”
Travis Miller, Director of The Great Basin Solar Coalition, is
part of an alliance of stakeholders from Northern Nevada who
represent the state’s solar industry. Mr. Miller said “Consumers
are now effectively grandfathered into the rate structure they
originally enrolled into for the life of their system. In
conjunction with ensuring consumer disclosures, this bill creates
the stability required for Nevadans to make educated investments in
clean energy solutions.”
About Sunworks
Founded in 1983, Sunworks, Inc. is a premier provider of solar
power solutions. We are committed to quality business practices
that exceed industry standards and uphold our ideals of ethics and
safety.
Today, Sunworks continues to grow its presence, expanding
nationally with regional and local offices. We strive to
consistently deliver high quality, performance oriented solutions
for customers in a wide range of industries including agriculture,
commercial and industrial; federal; public works; utility; and
residential. Our dedication to excellence is reflected in our
25-year warranty, a benchmark that we standby to support our
customers above and beyond their expectations.
Sunworks’ diverse, seasoned workforce includes distinguished
veterans who are devoted to providing the very best customer
experience. All of our employees uphold our company’s guiding
principles each day.
About The Great Basin Solar Coalition
The Great Basin Solar Coalition (GBSC) is the voice for
promoting clean, renewable energy in Northern Nevada. We believe in
a viable future for solar power and the benefits derived from it
for our local communities. Through education and awareness, GBSC
works to protect the rights of Nevada ratepayers, achieving fair
and equitable net metering arrangements backed by real
transparency. We’re leading the way for Nevadans, encouraging the
use of clean energy generation while helping to stimulate economic
growth. GBSC is an advocate for solar power on every front, from
local to federal government. We stand united in fighting for solar
rights, positioning Nevada for a clean energy future.
Safe Harbor Statement
Matters discussed in this press release contain forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. When used in this press release, the words
"anticipate," "believe," "estimate," "may," "intend," "expect" and
similar expressions identify such forward-looking statements.
Actual results, performance or achievements could differ materially
from those contemplated, expressed or implied by the
forward-looking statements contained herein. These forward-looking
statements are based largely on the expectations of the Company and
are subject to a number of risks and uncertainties. These risks
include, but are not limited to, risks and uncertainties associated
with: the impact of economic, competitive and other factors
affecting the Company and its operations, markets, products, and
prospects for sales, failure to commercialize our technology,
failure of technology to perform as expected, failure to earn
profit or revenue, higher costs than expected, persistent operating
losses, ownership dilution, inability to repay debt, failure of
acquired businesses to perform as expected, the impact on the
national and local economies resulting from terrorist actions, and
U.S. actions subsequently; and other factors detailed in reports
filed by the Company.
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version on businesswire.com: http://www.businesswire.com/news/home/20170524006281/en/
Sunworks, Inc.Rita Edwards, 916-409-6900Director of
Marketingredwards@sunworksusa.comorTravis Miller,
775-722-0893Project ManagerBoard Member, The Great Basin Solar
Coalitiontmiller@sunworksusa.comorCasey Coffman,
775-473-2931Regional Vice Presidentccoffman@sunworksusa.com
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