Disastrous is an oversimplification you can only make if you don't understand the broader context. Grid stability is more important than some homeowners saving some money, it turns out those extra kWh being dumped onto the grid were literally costing the operator money to deal with. Those costs got passed on to _other_ consumers because of the sweetheart deal.
Residential solar installs are way down, that's correct, residential isn't the only venue for solar, and within residential storage capacity is skyrocketing and it's already having a measurable effect on the early evening peak. Lower peaks means less capacity needs to be built just to handle a few hours. This is good.
The unequivocally negative impact I don't have an answer for is the job losses for solar installers.
> Grid stability is more important than some homeowners saving some money, it turns out those extra kWh being dumped onto the grid were literally costing the operator money to deal with. Those costs got passed on to _other_ consumers because of the sweetheart deal.
If that was the concern they literally did nothing to stop it. Instead of dealing with backfeeding from a distribution station, they went entirely the other direction.
Those grid costs, if they actually existed, were in isolated areas with high levels of solar, and NEM3 will continue deployments of solar in exactly those areas.
Solar is not "savings for some homeowners" it's literally keeping grid costs down for everyone, keeping our grid reliable on the hottest hardest to run days.