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More Affordable (and Clean!) Energy for Hawaiians, All While Supporting Small Businesses
Fabiola Carrion on October 21, 2010 - 10:12am
Last week, the state of Hawaii approved its first roll-out of Feed-in Tariffs (FIT), a reward program that allows homes and businesses to get paid for building renewable energy systems such as rooftop solar panels and feeding that energy into the electric grid. To implement the plan, companies that install and maintain a renewable source device receive a Power Purchase Agreement from a utility, while the state government regulates the electricity tariff rate. In this transaction, the renewable energy producer is guaranteed a rate for the power supply to the grid. Consequently, installation takes place quickly, the customer pays no upfront costs (the renewable energy provider pays for the entire project, including installation, maintenance, and trouble-shooting), the service is predictable, and the rate is comparable with other retail electricity rates.