Sunrun Faces Net Energy Metering 3.0

The stakes extended far beyond California. As the largest solar market in the United States, any policy changes would likely set precedents nationwide. Fenster understood this intimately—Sunrun had previously been forced to exit Nevada entirely after that state eliminated favorable net metering terms without grandfathering existing customers. The upcoming NEM 3.0 ruling would bring an "aggressive fight" against powerful investor-owned utilities who argued that existing policies unfairly shifted grid costs onto non-solar customers, particularly lower-income households. Fenster's team had been preparing for this inevitable policy change since NEM 2.0 was instituted in 2016, but uncertainty remained about the specific terms and their severity. The regulatory battle involved a complex ecosystem of stakeholders with competing interests: utilities, environmental groups, labor unions, consumer advocacy organizations, solar trade associations, and passionate existing solar customers. Each wielded influence through different channels—public hearings, media campaigns, legislative lobbying, and grassroots organizing. Fenster confronted fundamental strategic decisions: Which stakeholder groups should Sunrun align with to form effective coalitions, and which should it avoid? Which policy elements deserved highest priority in advocacy efforts? How much time and resources should the company invest in influencing the outcome? Or should Sunrun accept the regulatory headwinds and pivot toward alternative business models?