XsunX, Inc. (OTCBB:XSNX), the developer of a breakthrough cross-industry solar manufacturing technology, updates its shareholders on the escalating trend of net metering policies.
States across the U.S. are adopting policies that encourage solar installation and usage, which directs power back into the energy grid and improves the overall supply of energy available to the public. Net metering permits customers who generate their own electricity using solar or other forms of renewable energy to bank surplus electricity on the grid, usually in the form of kilowatt-hour (kWh) credits. The customer then uses excess generation credits to offset electricity that would otherwise be purchased at the utility’s full retail rate. Forty-two states and the District of Columbia already have established net metering policies, and many have subsequently expanded their policies to accommodate burgeoning solar markets.
View a net metering map here: http://www.dsireusa.org/documents/summarymaps/Net_Metering_map3.ppt
For example, the Sacramento Municipal Utility District (SMUD) – the nation's sixth largest publicly owned utility – announced on July 20 that they have established a feed-in tariff (FIT) designed to assist the company buy electricity that is fed into its distribution system from eligible generation units at customer sites.
Many states are adjusting their net metering rules to offer individuals and groups more ways to benefit from installing and using solar, and significantly, many states have recently raised the capacity limit for individual systems. This month in California, a state senate committee agreed to raise the metering cap up to 5 percent. Seventeen states now allow net metering for certain systems one megawatt (MW) or greater in capacity, while Pennsylvania allows net metering for certain systems up to 5 MW, New Mexico allows net metering for certain systems up to 80 MW, and Arizona and Ohio have no stated capacity limit at all!
“The adoption and practice of net metering by an increasing number of states is important incentive for encouraging home and business owners to install solar panels. Net metering not only reduces the number of kilowatts used by local electric providers – which decreases the emissions of carbon dioxide into the air – it also helps utilities to meet current state, and planned federal, renewable energy production minimums,” said Tom Djokovich, chief executive officer of XsunX.
“We believe that our new manufacturing technique for CIGS solar cells may help to drive this opportunity,” continued Djokovich. “In addition to high performance low cost solar modules, other products such as solar roofing and solar building siding could be manufactured offering buyers product and application diversity to meet their needs. Existing silicon based solutions are ridged and fragile while current thin films offer lower performance and only a few can be adapted to roofing applications. Our option would be a type of flexible solar building block that could be adapted to a host of applications,” concluded Djokovich.
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