After a year of studying my NEM2-PS bill, it didn't quite work the way you said (at least, I don't experience it that way under NEM 2.0).
For example, in the previous annual true up cycle, my house took from PG&E 5,440 kWh. But I only exported 5,189 kWh. At first blush, I would have a NEM deficit and a true up bill right? Since my exports were less than imports?
However, I actually ended the year with a total combined generation + distribution NEM credit of about $150 (which PG&E just deletes when the NEM cycle resets). This is because for the annual kWh exported that is less than the annual kWh imported, they give me credit for the spot rate (peak, shoulder, off).
So when I export at noon, I get the off-peak rate. But if I export from 3pm to 4pm under EV2A, my NEM bank got the credit at the higher/shoulder rate. And for the rare peak 4pm to whenever exports, I got the peak EV2A rate.
So my understanding is that if I bank some solar in a Powerwall during off-peak, then export during peak... I get the higher rate (and even more credits) without actually generating more solar power. Basically I push my power out there when it's more valuable. I'll need to do this to charge my EVs without becoming a net NEM importer.
However, keep in mind these these credits vanish at the end of the NEM cycle. PG&E doesn't pay them out. If I export 5,000 kWh all at peak, and use 6,000 kWh from off-peak, I'd have like a $1,000 credit that gets reset with no cash payment or bill credit.
The $0.02-3 you speak of is the value of the kWh exported in excess of imports. This is actually paid out as cash or a bill credit.
At least, that's my understanding. Because PG&E blocked me from adding enough solar panels to be truly break-even on a NEM basis, I'll never know what it feels like to be h2ofun with lots of solar.