New Solar Electric Program a Community Asset
To make the program more profitable for participants, GRU recommended a higher buyback rate
December 19, 2008
At its December 18 meeting, the Gainesville City Commission endorsed GRU’s proposal to offer the nation’s first solar photovoltaic (PV) electric feed-in-tariff (FIT) program by authorizing legal staff to draft an ordinance, with the first reading scheduled for January 15 and the program launch scheduled for March 1.
Participants will invest in their own PV systems to generate electricity and sell it directly to GRU under a contract for 20 years at a rate of 32 cents per kilowatt hour. This is an increase from the originally proposed 26 cents to make the contract more profitable, thereby attracting more participants.
GRU’s previous program offered rebates to encourage the installation of PV, and then bought back the excess power that was not used in the home or business. But the advantage of the FIT is that the participant’s income is much more predictable since all of the power generated will be sold directly to GRU. This factor is expected to increase participation.
The benefit for GRU’s overall customer base is that GRU is paying only for energy produced and not speculating on rebates for equipment that may never actually produce renewable energy. Significant implementation throughout the area will also bring further diversity to the portfolio of fuels used to generate power, which insulates the company from the recent volatility seen in the fossil fuel markets.
By leading the nation in a program that encourages increased renewable energy production, which in turn decreases the need for fossil fuels, GRU and the citizens of Gainesville have yet another opportunity to make the world a better place.
For additional information view the GRU Feed-in-Tariff: Frequently Asked Questions.
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