solar panels will be required on new homes in california starting in 2020
Golden State became the first state in the United States on Wednesday. S.
Solar panels are needed for almost all new homes.
Most of the new buildings were built after January.
1,2020, will be required to use the solar system as part of the standard adopted by the California Energy Commission.
While this is a boost for the solar industry, critics warn that it will also add nearly $10,000 to the cost of buying a house.
The decision sent solar stocks soaring.
The house builder is down.
The move highlights how green rooftop solar was once a luxury for the rich.
With California, tilted homeowners are becoming mainstream energy
Largest solar market in the United Statespaving the way.
The country has long been a pioneer of progressive energy policy, from the formulation of energy-
Establish an economic standard for electrical efficiency
Extensive plans to control greenhouse gases.
The housing authorization is part of the effort of Governor Jerry Brown to cut carbon emissions by 40% by 2030, and provides an Action Manual for other states.
\"This is huge,\" said Morten Lund, chairman of the energy storage initiative at law firm Stoel Rives LLP.
\"Essentially, this can turn residential solar energy into electrical appliances like water heaters.
There is always a certain inevitability in this outcome, but it is faster than most of us think. ”Sunrun Inc. The largest bank in the United StatesS. residential-
Solar installed, up to 6.
4% before the close of $9.
Wednesday in New York. Tesla Inc.
Rose up to 1.
7% and SunPower
Climbed nearly 7%.
KB Home, which has a lot of exposure to the California market, fell 5. 3 percent. The U. S. had 10.
At the end of last year, residential solar power generation reached 4 gigawatts, more than six times more than five years ago.
In 2017, the industry began to slow down due to policy changes and efforts by some companies to change strategies.
\"Adopting these standards represents a huge leap forward in building standards across the state,\" Bob Raymer, senior engineer at the California Institute of Construction Industry, said at a meeting before the vote.
\"You can bet that the other 49 states will keep a close eye on what\'s going on.
\"Tesla\'s senior assistant to business development and policy, Francesca Valle, was one of the company\'s delegates who supported the task at Wednesday\'s meeting and expressed support for the terms that will also facilitate the wider use of energy storage systems.
California\'s solar policy will exacerbate another key issue in the most populous state, where high housing costs are seen as a drag on the economy, which has also led to increased social tensions.
\"As house prices rise, Brent Anderson said:\" I think buyers will find it a bit offensive to be forced to pay more for solar systems that they may not want or feel can\'t afford, \"he said ,\". The spokesman\'s construction business shell is fresh.
\"Although this is the right answer in the long run.
California\'s economy grew by 2.
There are 3 million jobs in the past five years.
During the same period, the state issued permits for less than 480,000 new residential units, or one home for every five additional workers.
New policy for singles
Family homes and multi-family units on three or below floors, too dark homes have some exceptions.
Home builders may try to pass on costs to customers, Carl Reichardt in San Francisco --
Btig llc\'s basic analyst said in a telephone interview before the vote.
Large Residential builders like KB Home and Meritage have an advantage as they have been offering solar homes for years.
Smaller builders will be more difficult to manage new needs, he said.
Install solar system and comply with other energy sources-
According to the California Energy Commission, the efficiency measures required will increase the cost of new homes by about $9,500.
The Commission estimates that this will be offset by approximately $19,000 in energy and maintenance costs projected for 30 years.
Colleen Regan, a Bloomberg New Energy Finance analyst, described the California decision as \"admirable but misleading \".
\"Standards are not the best way to contain the state\'s greenhouses --
Gas emissions and may exacerbate steep slopes
California power grid operators have worked in the medium term to solve the problem of solar productionday.
\"It\'s also a policy that is clearly picking winners, and it\'s better for California to focus its efforts on the real root of the problem --
Instead of leaning towards a zero
\"Emissions technology is superior to other technologies,\" Regen said . \".
Meanwhile, the energy commission said the standard would reduce greenhouse gas emissions.
Over time, gas emissions are associated with household energy use, while saving money for residents.
The California Building Standards Board will need to adopt these rules as a form.
Sunrun\'s chief executive, Lynn Jurich, praised the decision, saying it was \"a vote of confidence in these assets creating value for the entire energy system \".
Jurich said in an interview that the standard is an opportunity for Sunrun, which provides solar leasing. With no-money-
Under the solar service agreement, there is no additional cost for builders, she said. “‘We are well-
Serve this market.
The state adds about 80,000 new homes a year, and the California solar energy and Storage Association estimates that about 15,000 of them include solar energy.
The energy committee says the average household system is used 2.
Panels of 5 KW to 4 KW, so the additional 65,000 new systems will increase the state\'s demand of 260 MW per year
It\'s about the size of a large solar farm.
SunPower expects this regulation to increase the state\'s demand for residential solar energy by about 50%.
San Jose, California-
US-based companies produce solar panels to develop solar systems from roofs to large utilities
Power plants of scale.
It is not clear how many major solar installers like Sunrun and vivinint solar Inc. are.
Joe Osha of San Francisco says it will benefit
Analyst at JMP Securities.
Their goal is usually for existing homeowners, not for companies that build new homes.
\"Your initial reaction was, \'Oh, it\'s great for solar companies, \'he said. \'\".
But their business is to acquire individual customers.
If you work with a home builder, it\'s a completely different thing.
Some of the world\'s largest solar energy-
Equipment manufacturers in Asia will benefit for a long timerun.
President Donald Trump has imposed tariffs on solar equipment imported into the United States. S.
This may mute some short films in January. term gains.
But these tariffs are phased out after four years, Hugh brosley said: \"If you are forced to install something that you may not want, you will take the cheapest route, bloomberg New Energy Finance analyst
\"It is likely to be equipment imported from Asia.