"California Regulators Reconsider Move To Cut Solar Subsidies"

"California regulators are delaying a vote on a controversial proposal to slash incentives for home solar systems as they consider revamping the measure.

California Public Utilities Commission President Alice Reynolds has asked for more time to consider making changes to the plan after getting feedback from solar companies, environmental groups, consumer advocates, utilities and other parties, according to a notice filed Thursday.

“This highlights just how politically sensitive this proceeding is and how difficult it is to substantially alter the economics of a cottage industry that has grown to gargantuan proportions,” said Paul Patterson, a utility analyst at Glenrock Associates.

Analysts with Roth Capital Partners said in a research note that the latest development was a “meaningful positive” for residential solar companies, including Sunrun Inc., Sunnova Energy International Inc. and SunPower Corp."

Mark Chediak reports for Bloomberg February 3, 2022.

Source: Bloomberg, 02/04/2022