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On September 25, 2009, the Hawaii Public Utilities Commission announced that it had approved a new Feed In Tariff rate system for
electricity produced from renewable sources. This new rate system requires Hawaiian Electric Company to pay higher rates for
electricity fed into the utility grid. Under a Feed In Tariff schedule, renewable energy is valued at a much higher rate than utility
produced power. Actual rates for the Feed In Tariff have not yet been set by the PUC, but are expected in the next few months. Hawaiian
Electric Company will pay Feed In Tariff rates for power produced by systems up to 5mW. HECO will be required to sign twenty-year
contracts for power produced and bought under the Feed In Tariff schedule. This change will make solar power system development in
Hawaii very attractive for investors, and could serve as a catalyst for rapid renewable energy growth in Hawaii. In Europe, Feed In
Tariff's are credited with making Germany and Spain the worlds two largest solar markets.
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