Sunworks eyes grandfathered solar opportunities in Nevada

US solar systems installer Sunworks Inc (NASDAQ:SUNW) is prepared to provide solar solutions to Nevada residents with active net metering applications following the state’s recent approval of a grandfathering proposal.

The company commended the grandfather decision by the Nevada Public Utilities Commission (PUC) and said it will assist all local residents whose projects were put on hold, including those whose contractors have left the Nevada market.

Just before Christmas 2015, the Nevada PUC approved, based on recommendations by NV Energy, a new scheme for net metering, lifting the utility service charge for small solar owners and reducing the credit paid to them for power sent to the grid. This led to a retreat from the local market by a number of sector players including SolarCity (NASDAQ:SCTY) and Sunrun Inc (NASDAQ:RUN).

On Friday, the PUC ruled that homeowners with active applications dated before January 1, 2016 can revert back to the full credit net metering rate structure. Sunworks said in a statement it considers this ruling to be the first vital step in rebuilding the state’s residential solar market.

"Today, thousands of customers have a restored opportunity to benefit from this decision," said Sunworks CEO Jim Nelson.

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