Gov. Sandoval signs energy bills into law

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"This bill restores the rooftop solar industry in Nevada by making sure rooftop solar owners are fairly credited for the clean energy they produce", Sandoval, a Republican, said Thursday in a statement at a bill signing ceremony at a Tesla warehouse facility in Las Vegas.

The bill protect Nevadans' right to generate, consume and store renewable energy, as well as their ability to connect solar energy systems to the utility in a timely manner without being subjected to burdensome requirements.

After the bill was passed last week by the Nevada State Legislature a number of sector players such as Sunrun and Tesla (NASDAQ:TSLA), which owns SolarCity, said they would re-enter the Nevada market. Gov. Sandoval must also decide whether to sign Assembly Bill 206 and Senate Bill 392, which respectively would boost the state's renewable portfolio standard and develop a community solar program.

Nevada lost nearly 2,600 jobs after the Public Utilities Commission of Nevada eliminated net metering in late 2015. AB 405 will re-establish net metering for PV systems 25 kW and smaller, with surplus electricity generation credited at 95% of the full retail rate until the installed net metering capacity reaches 80 MW.

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Governor Sandoval approved a measure that backers say will bring solar installations, local jobs and consumer confidence back to Nevada.

The Nevada Public Utilities Commission eliminated net metering in late 2015, which created uncertainty in the renewable energy market.

The bill would also expose the state to significant financial obligations, Sandoval wrote.

The Senate approved the measure 17-4 and the Assembly approved the measure 30-12.

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