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We introduce NEM X, an inclusive retail tariff model that captures featuresof existing net energy metering (NEM) policies. It is shown that the optimalprosumer decision has three modes: (a) the net-consuming mode where theprosumer consumes more than its behind-the-meter distributed energy resource(DER) production when the DER production is below a predetermined lowerthreshold, (b) the net-producing mode where the prosumer consumes less than itsDER production when the DER production is above a predetermined upperthreshold, and (c) the net-zero energy mode where the prosumer's consumptionmatches to its DER generation when its DER production is between the lower andupper thresholds. Both thresholds are obtained in closed-form. Next, we analyzethe regulator's rate-setting process that determines NEM X parameters such asretail/sell rates, fixed charges, and price differentials in time-of-usetariffs' on and off-peak periods. A stochastic Ramsey pricing program thatmaximizes social welfare subject to the revenue break-even constraint for theregulated utility is formulated. Performance of several NEM X policies isevaluated using real and synthetic data to illuminate impacts of NEM policydesigns on social welfare, cross-subsidies of prosumers by consumers, andpayback time of DER investments that affect long-run DER adoptions.

On Net Energy Metering X: Optimal Prosumer Decisions, Social Welfare, and Cross-Subsidies