Close Menu
Invest Insider News
    Facebook X (Twitter) Instagram
    Thursday, October 22
    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

    University and United Utilities forge new research and innovation partnership

    October 21, 2026
    Utilities

    State Street Utilities SPDR (XLU) Sells NextEra and Southern on Oct. 16

    October 20, 2026
    Utilities

    Accenture, Dragos and SANS Institute Launch Foundation to Strengthen Cyber Defenses for Under-Resourced U.S. Utilities

    October 20, 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
    Stock Market

    Stock Market Highlights: Nifty below 22,800; Brent near $108

    September 28, 2026
    Stock Market

    Stock Market Today: Dow, Nasdaq, And S&P 500 Futures Tumble To Kick Off September On A Weak Note—Nio, Signet, Zscaler In Focus (UPDATED) – SPDR S&P 500 (ARCA:SPY)

    September 2, 2025
    Bitcoin

    Bitcoin Pricing in ‘Most Bearish Global Growth Outlook’ Since Covid and FTX Crash: Bitwise Research

    November 29, 2025
    What's Hot

    White House economist dismisses AI report as science fiction

    February 24, 2026

    Should You Buy Bitcoin While It’s Under $200,000?

    November 1, 2025

    Asian stocks fluctuate as traders eye Wall Street’s AI rally and Fed signals

    November 3, 2025
    Most Popular

    Robert Kiyosaki Says Bitcoin Could Hit $200K, Calls Fear the Real Reason ‘Losers Lose’

    October 29, 2025

    Deal signed to ensure Wixams Station’s arrival

    July 26, 2024

    Who loses when Florida slashes property taxes?

    September 19, 2025
    Editor's Picks

    Wall Street closes at a record high after best week for stocks since April By Investing.com

    August 7, 2026

    Clearwater discusses dropping Duke Energy to form city utility

    July 30, 2024

    Trump fires lead official on economic data as tariffs cause market drop

    August 1, 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.