FOMB:
ATTACKING CLEAN ENERGY SOLUTIONS UNDERMINING THE WILL OF PUERTO RICANS.
Law 10 was passed unanimously by Puerto Rico’s House and Senate and signed by Governor. This bill extends the stable solar net energy meeting policy through 2031.
The unelected, unaccountable, and unconnected bureaucrats on the Financial Oversight & Management Board want to overturn this popular law.
Law 10 was passed unanimously by Puerto Rico’s House and Senate and signed by Governor. This bill extends the stable solar net energy meeting policy through 2031.
The unelected, unaccountable, and unconnected bureaucrats on the Financial Oversight & Management Board want to overturn this popular law.
BY ATTACKING NET ENERGY METERING,
THE BOARD WILL EFFECTIVELY KILL:
$1.5 billion in annual economic activity from the solar and storage industry
10,000 solar and storage family-supporting jobs
50,000 installations per year
The ability of Puerto Rico to keep the lights on and have a resilient grid powered by Virtual Power Plants
$400 million in grants to bring solar and back-up power to everyone
ADDITIONALLY, THE BOARD’S ATTACK ON HOME SOLAR PROJECTS WILL:
- Force Puerto Rico to depend on expensive coal and fossil gas, which must be shipped in to provide electricity for the island.
- Ensure that Puerto Ricans continue to face regular power outages
- Put lives in danger during extreme weather events
The Board - five of whom have terms that expired in December! - does not represent the needs of Puerto Rico. It is using tired, anti-competitive arguments against home solar that will only cause direct harm.
HOME SOLAR NET METERING HAS INJECTED THE ISLAND WITH AN EXTRA 70 CENTS PER KWH IN SOCIAL BENEFITS BEYOND DIRECT CONSUMER SAVINGS.
A 2024 study from the Solar and Energy Storage Association of Puerto Rico (SESA) shows that this positive overall benefit of net metering creates a lower cost and reliable grid for all in Puerto Rico.
THE WILL OF PUERTO RICANS SHOULD NOT BE OVERRULED BY AN UNELECTED BOARD OF D.C. APPOINTEES.
The facts are clear:
- The direct benefit to the grid and all other ratepayers is 33 cents per kwh, which is 36% greater than the retail electricity rate.
- The influx of solar investments bolsters economic growth and job creation throughout Puerto Rico, contributing an extra 70 cents per kWh in social benefits beyond direct consumer savings.
- Net metering is the foundational policy that has led to more than 4 million homes across the United States installing home solar.
- Not only do the solar and storage installations provide backup power for those who have installed this technology on their homes, but they have also been turned into virtual power plants, which help keep the lights on for the entire electricity grid.
Paid for by The Alliance for Solar Choice