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Join date : 2009-10-04
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PostSubject: More solar power incentives   Tue Oct 13, 2009 1:09 pm

More solar power incentives

LOS ANGELES - CALIFORNIA is heating up its push for clean energy, as Governor Arnold Schwarzenegger approved a new subsidy for solar power on Monday and joined forces with the federal government to fast-track renewable energy projects.

California has the most aggressive renewable energy goals in the United States, which Mr Schwarzenegger increased last month when he ordered that the state get a third of its electricity from renewable resources by 2020.

FBR Capital Markets analyst Mehdi Hosseini said the new subsidy for solar generation could be 'explosive' on top of the existing investment tax credit for installing solar systems. 'This is above and beyond the subsidies that are already in place,' Mr Hosseini said.

Feed-in tariffs set a higher price for renewables, and in Germany, such tariffs have pushed the country to be the world's market leader in solar power.

California's new solar programme guarantees that utilities will pay owners of commercial solar systems - up to 3 megawatts in size - a higher price for solar electricity, a subsidy meant to spur development of solar rooftop systems.

Currently, if utilities want to charge more than the retail price for such systems they have to ask for permission from regulators. Now the California Public Utilities Commission will set the price. -- REUTERS
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