Businesses in Hawaii and Ontario can adopt renewable energy technologies with greater assurance that the investments will pay off now that the state and province have enacted feed-in tariff programs.
Under feed-in tariffs, a set rate for electricity generated - usually above the cost of production - helps promote the adoption of renewable energy.
In Hawaii, the Public Utilities Commission will set a rate for 20-year contracts for solar, wind and hydroelectric sources. Hawaii is one of the sunniest states, and is attracting solar investment.
The PUC is expected to set the rates within the next few months. Rates will be tabulated based on project cost and reasonable profit for each operation, reports BizJournals.
So far, other U.S. states to enact feed-in tariffs are: California, Florida and Vermont. Other states have introduced feed-in tariff legislation, only to see it shot down.
Meanwhile, in Canada, the important industrial province of Ontario has approved a feed-in tariff.
The move is part of Ontario's Green Energy Act, and it applies to projects that have a certain percentage of costs derived from Ontario labor and goods, reports Risk.net.
Rates in Ontario would range from 10.3 cents per kilowatt hour to 80.2 cents per kilowatt hour, depending on the type of installation.
Ontario has pledged to spend $2.3 billion (Canadian) to boost renewable power, reports the Calgary Herald.
Already, Samsung is in talks with Ontario to establish a renewable energy business there, reports the Canadian Press, via CTV.
