Protecting Profit Margins for Businesses in Ventura County

Ventura County businesses, particularly small and medium-sized enterprises (SMEs), are grappling with the mounting pressure of rising utility costs as Southern California Edison (SCE) is poised to implement yet another significant rate hike in 2024.

SCE's impending 9% hike is the latest in a series of increases that have already raised Ventura County’s commercial electricity bills by 39% since 2020. This trend is expected to continue, with projections pointing to a further 45% increase by 2027.

While these record rate increases show no signs of slowing down, we are urging businesses to look again at solar and how it can break the dependency on the grid and the hold of the utilities.

Navigating the Upcoming Virtual Net Metering (VNEM) Changes

Ventura County businesses also need to be proactive on the subject of changes to Virtual Net Energy Metering (VNEM) regulations, effective from February 2024. 

These changes will fundamentally alter how energy is measured for businesses with multiple electric meters. The new rules will limit solar systems to one meter per setup, potentially diminishing the financial benefits of solar unless businesses act promptly.

Unfortunately, the changes to this regulation on top of the record rate increases means there is a small window to submit an application for a solar project while the benefits are still significant.

In the current economic climate, where energy costs are soaring and profit margins are shrinking, the investment in commercial solar has never been more compelling. With a payback period of just two years, solar power offers a rapid return on investment, significantly reducing energy expenses and boosting overall profitability.

For more information on the changes to Virtual Net Energy Metering changes, visit https://calmatters.org/environment/2023/11/california-solar-payment/

If you would like to speak to a Sunistics consultant about your options, please contact us on customer@sunisticsgroup.com or make an appointment here.