The FIT Coalition has launched a campaign to encourage the enactment of a comprehensive feed-in tariff (FIT) in North America. The campaign will focus on bipartisan passage of FIT legislation in California that delivers on the state's renewable energy goals while boosting the economy, according to the coalition.
The passage of the Renewable Energy and Economic Stimulus Act (REESA) in the California State Legislature is the FIT Coalition's primary campaign goal. The legislation calls for enacting a FIT for renewable energy projects up to 20 MW in size and delivering an incremental 2% of California's delivered energy from renewables every year through 2020.
‘The passage of the REESA would be the most significant step California could take in transitioning to a clean energy economy in a cost-effective and timely manner,’ says Craig Lewis, executive director of the FIT Coalition. ‘It has been proven repeatedly around the world that no other policy mechanism comes close to a well-designed [wholesale distributed generation] FIT for producing steady growth in renewable energy deployments while stimulating maximum economic benefits in terms of job creation and increased tax revenue.’
The FIT Coalition is building bipartisan support for the REESA by providing detailed analyses of its economic benefits. Results from a ratepayer impact analysis show that the REESA will save ratepayers billions of dollars while fulfilling the entire 33% by 2020 renewable portfolio standard (RPS) mandate. Preliminary results from an additional study show that the REESA will create tens of thousands of California jobs quickly while stimulating billions in new tax revenue, according to the coalition.
The FIT Coalition is also bringing together policy-makers and industry stakeholders through a series of educational and industry alignment summits. Finally, the FIT Coalition will continue to work closely with all parties, including utilities and regulators, to assure that the REESA helps meet California's RPS goals while saving money for ratepayers.
SOURCE: The FIT Coalition