Institute for Local Self-Reliance: New Study Proposes Powerful New Strategy to Expand Renewable Energy and Boost Local Economies
FOR IMMEDIATE RELEASE
January 17, 2008
CONTACT: Institute for Local Self-Reliance
New Study Proposes Powerful New Strategy to Expand Renewable Energy and Boost Local Economies
MINNEAPOLLIS, MINNESOTA - January 17 - Several European countries and
the Canadian province of Ontario have recently adopted feed-in tariffs,
a mandated, long-term premium price for renewable energy paid by the
local utility company to renewable energy producers. A new study by the
Institute for Local Self-Reliance (ILSR) shows how feed-in tariffs
enable citizens to participate in turbocharging Minnesota’s renewable
electricity standard, and reduce costs.
“A feed-in tariff is a tool to let everyday people join the renewable
energy revolution. Unlike complicated tax credits or corporate equity
partnerships, it’s a straight payment from the utility to my backyard
wind farm,” says study author John Farrell. “Not only can communities
produce renewable power in their backyards, they can produce real
economic development in the backyard, as well.”
Renewable Energy Feed-In Tariffs (REFITs) level the playing field by
scaling renewable prices by the project size and the available resource
(e.g. wind speed). The adjustable price supports small-scale projects
while growing renewables on a large scale. Feed-in tariffs also lend
muscle to a state’s renewable electricity mandate.
“Evidence in European countries shows that feed-in tariffs encourage
more renewable energy production for a lower cost than a mandate alone.
That’s because, unlike the targets in a renewable mandate, a feed-in
tariff is a financially transparent tool for getting projects built.”
The full report, Minnesota Feed-In Tariff Could Lower Cost, Boost
Renewables and Expand Local Ownership, can be viewed online at
http://www.newrules.org/de/feed-in-tariffs.pdf. For more information, or
to arrange an interview with John Farrell, please contact Brooke Gullikson.
Since 1974, ILSR has worked with citizen groups, governments and private
businesses in developing practices that extract the maximum value from