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Renewables Buydown Increased
Governor Gray Davis recently signed legislation that added another
$22 million to the California Energy Commission’s $54 million
Emerging Renewables Buydown Account, allowing the CEC to increase
rebates from $3 to $4.50 a watt, or up to 50% off an eligible
renewable system’s purchase price, whichever is lower. Any
eligible project completed after February 18, 2001, qualifies
for the rebate.
Here is an example of how the rebate makes renewable energy
generation profitable: An $18,000 utility intertie solar system
that produces 13.3 kWh per day (close to the national average
amount of electricity used) can now be purchased (with rebate)
for $9,000 instead of the previous $11,000. With electricity prices
increasing, pay back periods are shortening. For help calculating
your energy savings and pay back period visit http://www.energy.ca.gov/cleanpower.
The rebate program applies to solar photovoltaic, small wind
(10 kilowatt or less), fuel cells using renewable fuels and solar
thermal electric generation systems. All types of electricity
customers are eligible: residential, commercial, agricultural
and industrial, as long as they are within the utility service
area of either PG&E, San Diego Gas & Electric, Southern
California Edison, or Bear Valley Electric Company.
For more information, contact the Commission’s Renewable
Energy Call Center at (800) 555-7794, or visit http://www.flexyourpower.ca.gov/rebates.
You can also search an impressive collection of rebates at http://www.consumerenergycenter.org/rebate/index.php.
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