Find out what feed in tariff is offered by your utility and what return this will give you if you buy a solar panels for your home
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Some utilities and/or States offer Feed-In-Tarriffs (FIT). Usually under an FIT structure "Net Metering" is not used (i.e. your meter does not "spin backwards"). Rather a separate meter is used to measure the amount of electricity produced, which is then sold to the utility. Under this scenario, one would not realize utility bill savings. Rather the person would receive periodic compensation (revenue) from the utility for any electricity fed (sold) to the utility.
|What this Option does in the Solar & Wind Estimator: In most cases you will select "Net Metering". Feed-In Tarriffs are not common across the USA at this time. If you select "Net Metering" as the utility savings method, then the software will estimate how much you will save on your utility bill due to Net Metering. If you select "Feed In Tarriff" then the software will assume there are no ($0) in utility savings. Only financials incentives will be applied to the cash flow analysis. (We model FIT's as a financial incentive).|
A feed-in tariff (FIT, feed-in law, advanced renewable tariff or renewable energy payments) is a policy mechanism designed to encourage the adoption of renewable energy sources and to help accelerate the move toward grid parity.
Under a feed-in tariff, an obligation is imposed on regional or national electric grid utilities to buy renewable electricity (electricity generated from renewable sources, such as solar power, wind power, wave and tidal power, biomass, hydropower and geothermal power), from all eligible participants.
In addition, FITs typically offer a guaranteed purchase for electricity generated from renewable energy sources within long-term (15-25 year) contracts. These contracts are typically offered in a non-discriminatory way to all interested producers of renewable electricity.