Yesterday the California Public Utilities Commission voted 5-0 to approve the state’s new “Renewable Auction Mechanism” – or RAM – program to spur mid-sized solar and other renewables. This next-generation feed-in tariff program will require California’s investor-owned utilities to purchase power from renewable energy systems up to 20 MW in size. That opens a nice new solar market opportunity between the small commercial and residential systems supported by California Solar Initiative rebate program and the large-scale utility systems already driven by the 33% RPS requirement. » Read the rest of this entry «
We aim to keep our members informed about the latest opportunities, challenges and successes in the incredible fast-changing world of solar policy. Spreading the word through our blog, social media and friends in the press is a big part of what we do here at Vote Solar. That’s nothing new.
But one recent bit of news (California to Launch Next-Generation Feed-in Tariff) has produced some markedly different results. This time, the investment community really sat up and listened. For the past week, we’ve been fielding calls from financial analysts interested in learning more about the first-of-its kind 1 GW program for mid-sized renewables. And from what we’ve seen, they’re pretty bullish on what the program means for solar growth in the Golden State (see here here and here).
What’s to like? It opens up an untapped solar market opportunity (under 20 MW wholesale power). It requires utilities to purchase 1 GW over the next couple years through standard contract terms and must-take provisions. And it builds in a pricing mechanism that addresses federal jurisdictional challenges head-on and delivers the most solar bang for ratepayers’ buck. What’s NOT to like? We are looking forward to getting this across the finish line in the coming months.
Here’s to more good news to come . . .