Feed-In Tariff Legislation a Possibility in NY
Feb 17, 2010
by EmPower Solar
Feed-In Tariffs (FITs) implemented in Germany and Spain spurred record growth in their renewable energy industries, making them global leaders in solar energy. Now, there is a chance FITs could come to New York, bringing with them unprecedented benefits and opportunities.
A FIT establishes a premium rate at which renewable energy systems (small or large scale) sell their energy to the grid. Instead of net metering, system owners are paid for every kWh generated, not just those they don’t consume. Read the NREL paper to learn more about how FITs function.
Around the world, FITs have been proven to be the fastest and most economical way of deploying renewable energy systems. The New York Solar Energy Society gives 16 reasons why FITs are advantageous and effective. Some of the most prominent are:
- A FIT will create tens of thousands of clean energy jobs in NYS
- Reliable, predictable credit flows from FITs promote private sector investment
- FITs promote investment in large scale AND small scale systems