07 Mar 2023
Paladin Power, Inc. ("Paladin"), the nation's newest technology in energy storage systems ("ESS") for residential and commercial markets, announced it received approval for the Self-Generation Incentive Program ("SGIP") from the California Public Utilities Commission ("CPUC").
SGIP provides incentives to support existing, new, and emerging distributed energy resources in California, including rebates for qualifying residential systems. These include advanced energy storage systems like the Paladin Power ESS, which Paladin launched mid-February at the 2023 InterSolar and Energy Storage North America Show at the Long Beach Convention Center.
California has seen many recent policy changes to power regulations including the new peak price increase at SDG&E where peak rates are now at 74 cents per kWH and the passage of the Net Energy Metering ("NEM") 3.0, which goes into effect in April this year effectively removing the financial incentives allowed in NEM 2.0.
Paladin Power ESS offsets the burden of these regulatory changes by enabling customers to download and store their extra solar energy for their own use, on or off grid.
Paladin Power ESS is a robust and battle tested system that can handle 100% of home loads without energy from the grid, including the entire home, pool, spa, air conditioning and electric vehicles ("EVs"). For California solar consumers, this enables them to take advantage of NEM 3.0 and power their home without disruption, saving hundreds to thousands of dollars on their electric bill, and NEM 3.0 customers can receive faster return on investment. Being able to fully offset the new $0.74 peak power rates will be critical for homeowners. The Paladin system will keep the whole house operating like normal.
"With the future of energy metering changing, consumers will begin rushing to store their energy instead of relying on the grid," says Ted Thomas, CEO, Paladin Power Inc. "Especially as California announces the payback period for solar-plus-storage installation will be faster than solar-only alternatives."
Source: CPUC Public Advocates Office via the Agricultural Energy Consumers Association
Fast and Easy Installation
For installers, Paladin has reduced installation times down to 30 minutes with a factory pre-wired system, giving installers a broader market to scale their business, both in volume and in the more than one million homes in Californian that have solar but no energy storage system.
Paladin Power | www.paladinpower.com