Close Menu
Invest Insider News
    Facebook X (Twitter) Instagram
    Monday, April 20
    Facebook X (Twitter) Instagram Pinterest Vimeo
    Invest Insider News
    • Home
    • Bitcoin
    • Commodities
    • Finance
    • Investing
    • Property
    • Stock Market
    • Utilities
    Invest Insider News
    Home»Utilities»California’s solar transition has left most renters behind
    Utilities

    California’s solar transition has left most renters behind

    August 13, 20243 Mins Read


    The Bay Area tops the list of U.S. regions grappling with soaring costs of living. While housing, food, childcare, and health care expenses have strained residents’ budgets for years, a new expense has emerged as a major issue: utility costs. PG&E electricity rates have skyrocketed by a staggering 63% in just three years, contributing to widespread struggles to make ends meet in one of the most expensive regions of the country.

    For homeowners, investing in clean energy technologies can provide crucial relief, reducing energy bills by more than $1,400 annually. But the nearly 50% of Bay Area residents who rent are left watching our meters spin and our bank accounts dwindle.

    Apartment dwellers have historically been left out of California’s solar transition — and a decision from the California Public Utilities Commission last year exacerbated the situation. We are dependent on our landlords to make the investment – and under the current policy, they have no incentive to do so.

    The good news? California Senate Bill 1374, introduced by Sen. Josh Becker from Silicon Valley, would help expand solar benefits to apartment buildings by aligning the financial interests of landlords with those of their tenants. This bill could unlock significant cost savings for renters — the very people who stand to benefit most from reduced energy bills.

    The current rules are fundamentally flawed. Landlords are arbitrarily prohibited from using solar on their apartment buildings to offset electricity use in common areas like hallways, elevators, or EV charging stations — spaces they’re responsible for powering. This begs the question: why would a property owner invest in solar if they are prohibited from reducing their electric bill?

    The consequences of this misguided policy are stark. Since the new rules went into effect, solar installations on multifamily buildings have dropped 94%. This represents a missed opportunity  for cleaner energy and lower utility costs for renters amidst an exploding utility bill affordability crisis. Renters living in apartment buildings with solar see significant bill savings compared to those who don’t.

    Apartment buildings aren’t the only properties disproportionately impacted by California’s new solar rules. Schools, farms, and places of worship also face barriers to investing in this clean energy technology. Under SB 3714, schools would immediately benefit by closing a loophole that prevents schools from leveraging solar across their campus. Farms, places of worship and other properties with multiple electricity meters could also benefit from the legislation, thanks to language that directs the California Public Utilities Commission to reevaluate their rules.

    As the fifth-largest economy in the world, California cannot justify leaving renters and other vulnerable communities behind. The state is facing an affordability crisis that directly impacts residents’ ability to meet basic needs. Skyrocketing utility costs have become an undeniable burden at kitchen tables across the state, where families are struggling to keep up. SB 1374 presents a pragmatic opportunity to ensure that all Californians, regardless of whether they own or rent homes, can benefit from solar energy. The time for action is now — our wallets and our planet cannot wait.

    Shanti Singh is the legislative and communications director at Tenants Together. Jeff Levin is the senior director of policy at East Bay Housing Organizations.

    Originally Published: August 13, 2024 at 5:30 a.m.



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Previous ArticleStarbucks names Chipotle’s Brian Niccol as CEO; Chipotle stock tumbles By Investing.com
    Next Article Arabica Coffee Reverses Gains as Brazil Crop Avoids Frost So Far – BNN Bloomberg

    Related Posts

    Utilities

    Utilities Fall as Treasury Yields Fall – Utilities Roundup

    April 17, 2026
    Utilities

    How Utilities Can Boost Modernization With the ‘Network Effect’

    April 17, 2026
    Utilities

    Utilities Plan Over $1.4 Trillion Investment by 2030 Amid Rising Consumer Bills

    April 17, 2026
    Leave A Reply Cancel Reply

    Top Posts

    How is the UK Commercial Property Market Performing?

    December 31, 2000

    How much are they in different states across the US?

    December 31, 2000

    A Guide To Becoming A Property Developer

    December 31, 2000
    Stay In Touch
    • Facebook
    • YouTube
    • TikTok
    • WhatsApp
    • Twitter
    • Instagram
    Latest Reviews
    Commodities

    Corn Declines With Mild US Temperatures Ideal for Pollination – BNN Bloomberg

    July 18, 2024
    Stock Market

    London stocks begin recovery after global market turmoil – The Irish News

    April 8, 2025
    Finance

    Morbihan. L’ancien ingénieur dans la finance façonne sa maison de demain

    March 28, 2025
    What's Hot

    Oil prices: Oil settles up, weekly gain 4% as investors weigh Middle East risk and US election

    October 26, 2024

    China Property View, Japan Elections Churn Asian Stock Markets

    October 25, 2024

    Speculative Money Has Been Turning Millions of People into Commodities

    July 20, 2024
    Most Popular

    Stock Market Updates: Sensex Gains 200 Points, Nifty Tops 25,500; Nykaa, Gabriel Drop 4% | Markets News

    July 2, 2025

    Dow Jones Today | US Stock Market LIVE Updates: US stocks, bonds fall as war shows no signs of easing

    March 20, 2026

    US Stock Market Highlights: Nasdaq rises 0.35% as chip stocks lift Wall Street; S&P 500 edges lower

    April 10, 2026
    Editor's Picks

    Utilities, AI, and the Quiet Raid on Consumers

    July 29, 2025

    Crown Point Announces Operating and Financial Results for the Three and Six Months Ended June 30, 2024

    August 12, 2024

    Les analystes discutent des perspectives pour le deuxième trimestre 2025

    March 28, 2025
    Facebook X (Twitter) Instagram Pinterest Vimeo
    • Get In Touch
    • Privacy Policy
    • Terms and Conditions
    © 2026 Invest Insider News

    Type above and press Enter to search. Press Esc to cancel.