FIT4NV: an Energy Independence & Economic Security Initiative

Now
you can help FIT4NV create a vibrant renewable energy marketplace for manufacturers, developers, contractors, and entrepreneurs that will revitalize Nevada's economy! 

Show the Nevada State Legislature that you support clean-tech economic development in Nevada through the time-tested policy tool that pays you to feed renewable energy into the electric grid and is known as a Feed-in Tariff (FIT) where the term "tariff" is a rate paid, not a tax:

Your endorsement of the FIT4NV resolution is crucial to the success of the FIT4NV initiative.

FIT4NV: the Power To Renew Our Economy!

Click! >>> To Endorse the FIT4NV Resolution! <<< Click! 


2011 Nevada Legislature review

The 2011 Nevada Legislative session ended in June. FIT4NV, with help from the Clean Coalition, were very successful in moving our Feed-in Tariff bill (SB184) out of the Senate, on a bipartisan vote, and into the Assembly. Unfortunately, the Democratic leadership of the Assembly Commerce and Labor Committee--all representing North Las Vegas--were not well informed on FIT policies and failed to understand that to stimulate the Nevada's economy by creating a vibrant and predicable renewable energy program--where everyone could participate equally and meaningfully in energy production--requires an investment. Of course, FITs are a pay-as-you-go (PAYGO) program requiring a tiny investment from utility ratepayers to finance. Also, we were up against NV Energy, who contrary to their greenwashing advertisements, are strongly opposed to renewable energy development--especially if it means that consumers are playing in their sandbox by being paid to generate energy. There are a number of ways that a FIT program could benefit NV Energy shareholders but unfortunately the utility space is ruled by myopic 20th century thinking: they like being a monopoly.

In the end, our bill (SB184) became a study (been there, done that) and was amended to AB416, a net-metering plus production based initiative bill. Also, at the last minute NV Energy managed to get an onerous transmission amendment added to AB416 as well. By end of June the governor had vetoed AB416.

We are presently considering our options. You are welcome to join us by either helping out at meetings or by even sending us some funds! Please contact Bob or John at the numbers listed at the bottom of the left sidebar. Please be sure to check back in a couple of months to see what we're up to.

FIT4NV thanks you for all you do to help this unfunded, purely grassroots effort to support the adoption of a FIT in Nevada!



WHO is FIT4NV?
Feed-in Tariffs for Nevada (FIT4NV): an Energy Independence & Economic Security Initiative is individuals, businesses, government entities, and nonprofit groups all working together to promote energy independence, economic security, technological innovation, and job creation through the adoption of a renewable energy Feed Law in the state of Nevada in 2011. FIT4NV was established 2009 by the Electric Auto Association of Northern Nevada and the Great Basin Resource Watch.

WHAT is FIT4NV?
FIT4NV supports the adoption of a Feed-in Tariff (FIT)—where the term "tariff" is a "rate" paid, not a tax—which pays any operator (that's you!) a fair "rate" to generate and "feed" renewable energy (RE) into the electric grid. It's that simple: if you generate renewable energy and feed it into the gird you get paid a fair price for doing so.

WHY are FITs GOOD for NEVADA?
FITs are economic development policies that create markets by reducing risk through ensuring lenders, manufacturers, developers, contractors, entrepreneurs, and everyday people—like you—that renewable energy is a safe long-term investment. 

FITs Reduce Investment Risk by:
  • Basing the tariff paid to renewable energy plant operators on the actual cost of generation plus guaranteeing a reasonable rate of return on investment if the system is well operated and maintained.
  • Guaranteeing all renewable energy plant operators access to connect to the grid.
  • Establishing a long term contract.
FIT Pros:
  • FITs cost the government (taxpayers) and utility nothing—zero ($0.00), thus a FIT is not a subsidy!
  • FITs guarantees investment security for developers and contractors by creating market certainty, no more boom and bust cycles if the rates are set correctly.
  • FITs guarantees investment security for all renewable energy plant operators with long-term contacts.
  • FITs guarantees investment security for bankers, equity investors, and venture capitalists to deploy capital through what Deutche Bank refers to as: Transparency, Longevity and Certainty (TLC). "There needs to be a transparent process that gives a reasonably certain rate of return over a long time frame. This will reduce the cost of capital and we believe Feed in Tariffs (FiTs) create a lower risk environment for investors," writes Deutche Bank.
  • FITs guarantees investment security for renewable energy equipment manufacturers, some of whom are all ready showing interest in Nevada thanks to SB184 & AB268! And FIT4NV has been recently informed (1/2011) that capital is now waiting to be invested in Nevada based on the successful adoption of a FIT!
  • FITs are the Power to Renew Nevada's Economy! Some have suggested that SB184 & AB268 may do for Nevada's economy in the 21st century what the Gaming Act of 1931 did for the state in the early 20th century!
FIT Cons
:
  • FIT program costs are paid for by utility ratepayers—just like ratepayers pay for electricity generation from other sources including fossil-fuels. Some of those sources are very cheap, while others are very expensive, as much as a $1.00 per kilowatt hour for power from "peaker" plants and other ancillary services that keep the grid running smoothly. Thus, FITs are not subsides as they cost the government (taxpayers) nothing, nor are they an incentives program either—they are simply payment for electricity generation, only in this case, it's easy for anyone to enter into a generation contract with the utility. That said, we estimate that by year five, of a ten year FIT program, monthly ratepayer impacts for the average Nevada household will cost less than the cost of a single donut per month—and after year ten there will be a net ratepayer benefit! Please review our preliminary economic assessment of a hypothetical Nevada feed-in tariff program for further details on our findings on Google Docs or download the report directly from this link
Conclusion:

FITs are time-tested as the world's most cost effective policy tool for accelerating growth in renewable energies! And now we have the opportunity to bring FITs to Nevada, but it won't happen without your help: Please Endorse the FIT4NV Resolution NOW! 


Please watch the following two videos which will explain FITs and why FITs have been the world's most successful policy tool for accelerating growth in renewable energies! 

1.)  Introduction to Feed-In Tariffs, with Craig Lewis of the CLEAN Coalition (approx. 9 minutes). 



2.)  Payback Time, about the success of the German FIT law. A production of the World Future Council (approx. 5 minutes).