According to Hans-Josef Fell, speaker for the German Green party on energy policy, under democratic Congressman Jay Inslees proposal, electrical utilities would be required to provide long-term incentive payments at uniform nationwide rates for renewable grid power. The contract time would be fixed at 20 years, as in Germany.
The bill also suggests that rates can be lowered for future installations as technology costs decline. The investment payback for each type of renewable generation would also be graduated to provide a reasonable return, while preventing excess owner profits. The cost of feed-in payments would then be redistributed to all utility customers and readjusted in a biannual review process. All renewable generating installations up to 20 megawatts would qualify for the incentive program.
The bill’s provisions are intended to place the U.S. at the forefront of the global renewable energy revolution. It nevertheless remains uncertain how many lawmakers will support Inslee’s plan, unless near-term benefits emerge throughout the country.
It is however believed that the passage of Inslee’s renewable energy bill could create a resilient safety net for the real estate market. Solar rooftops, regional wind farms, and rural biomass plants would revive local economies and enhance their collective contribution to national energy security.
Related news:
- Time for U.S. to adopt FITs long overdue, says countrys solar associations
- pv magazine’s latest opinion piece by VP of marketing for groSolar, Gaelan Brown discusses at length why the U.S. needs to adopt FITs.
