The Long Island Power Authority’s (LIPA) board of trustees has passed an authorized plan to expand its Feed-in-tariff (FiT) by 100MW, no later than next July.
Through its Efficiency Long Island Program, the board intends for its renewable energy programs, future renewable energy procurements and other actions and investments to reach a minimum of 400MW by 2018, which would bring LIPA’s total to 700MW installed.
LIPA intends to use solar, wind and fuel cells projects to reach its energy needs and plans to expand the FiT program as well as issue a new competitive call for renewable energy on Long Island. The municipality has also voted to directly modify its Solar Pioneer program in order to provide rebates to residential customers who lease a qualifying solar system. Its commitment to issue an added 100MW in renewable energy capacity is slated to be done no later than 1 July 2013.
Michael Deering, VP of environmental affairs at LIPA, noted, “We can’t afford not to invest in renewable energy. However, the time, the projects and the price has to be right in order to continue to meet our on-island regulatory requirements and continue to keep prices stable for our customers. The renewable energy and efficiency component of this plan will allow us to further diversify our energy portfolio and reduce peak load with projects that are environmentally and cost friendly.”