If you applied before April 14, 2023, you are "grandfathered" into 1:1 retail credits for 20 years. You receive a credit worth the full retail rate (roughly $0.30–$0.45 per kWh) for energy you send to the grid.

Systems applied for after April 14, 2023, use "avoided cost" rates. Instead of retail value, you are paid what it would cost PG&E to buy that power elsewhere. This typically averages $0.04 to $0.09 per kWh during the day—a drop of about 75% compared to NEM 2.0. How Buy Back Payments Work

This is roughly $0.02 to $0.04 per kWh , based on wholesale market prices.