Warren Buffett Downplays His Battle With Elon Musk in Nevada Over Solar Power

Joe Carmichael for Inverse:  Buffett, in an interview with CNBC on Monday, responded to viewer questions about this clash (a clash that Bloomberg Business intensified with a cover story): two viewers asked why Buffett’s companies are preventing and deterring net metering in Nevada. Buffett responded:

“We don’t have a problem with net meters, and we’re the leading in renewables in the country among regulated utilities. The [unintelligible] we do not want our million-plus customers that do not have solar to be buying solar at 10 and a half cents when we can turn it out for them at 4 and a half cents or buy it at 4 and a half cents. So, we do not want the non-solar customers, of whom there are over a million, to be subsidizing the 17,000 solar customers. Now, solar customers are subsidized through the Federal Government — as we are, with our wind and solar operations ourselves. …

“In Nevada, [Musk's company, SolarCity] had an arrangement for a very limited number of people — and the public utility commission decides this — they had an arrangement where the utility had to pay way above market for solar produced by these 17,000 homes, and that —“

The interviewer interrupted to clarify: “For instance, if I have solar electricity that I’m producing, that’s more than I need, I can sell it back to you…”  Cont'd...

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