California set to delay solar subsidy reform - Bloomberg
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A California judge has proposed delaying reforms to a solar incentive program that has helped rooftop systems flourish in the state, Bloomberg reported Monday, citing ClearView Energy Partners.
The draft proposal before the California Public Utilities Commission would extend the deadline by a year to August 27, 2023, a CPUC document said.
The CPUC is attempting to overhaul the net metering program that helped make rooftop systems mainstream but has drawn criticism for raising power bills for poor and middle-class residents.
Potentially relevant tickers include (NYSEARCA:TAN), (SPWR), (RUN), (NOVA), (ENPH), (PCG), (EIX), (SRE)
Many solar stocks have been ripping to YTD highs in recent weeks as the Inflation Reduction Act, which includes $369B in spending on climate and energy policies and was passed Friday by the U.S. House and Senate.