Wind turbine FiT programs boost the industry


Wind turbine FiT programs boost the industry

wind turbine fit

 
Wind turbine FiT programs create strong incentives for individuals to invest in renewable energy through compensation. According to Wikipedia, “Under a feed-in tariff (FiT), eligible renewable electricity generators, including homeowners, business owners, farmers and private investors, are paid a cost-based price for the renewable electricity they supply to the grid”
 
Tariffs differ by renewable energy source and country and typically have a guaranteed purchase agreement period. FiT programs can be found all over the world, and have already been created in over 50 countries.
 
According to Wikipedia, “the first form of feed-in tariff (under another name) was implemented in the US in 1978 under President Jimmy Carter, who signed the National Energy Act (NEA). This law included five separate Acts, one of which was the Public Utility Regulatory Policies Act (PURPA). The purpose of the National Energy Act was to encourage energy conservation and develop new energy resources, including renewables such as wind, solar and geothermal power.”
 
Wind turbine FiT programs make it easier for farmers and landowners to invest in wind energy when there is a guaranteed return on their investment through generation of electricity fed to the national grid. FiT encourages adoption of renewable energy and minimizes the risk of investment.
 

Posted By Sally on May 15, 2014 | 0 Comment

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