A recent article by Renewable Energy Magazine highlights a new study released by UC Berkeley, which evaluated the performance of the feed-in tariff (FiT) as proposed by the Renewable Energy and Economic Stimulus Act (REESA). This study, conducted by Professor Dan Kammen and Max Wei, reaches similar findings at a state level as those contained in the UCLA Luskin Center for Innovation’s study: “Designing an Effective Feed-in Tariff for Greater Los Angeles,” which primarily focuses on the city of Los Angeles.

The Berkeley’s key findings include that three times the number of jobs will be created if a FIT is enacted to complement the state’s 33 percent Renewables Portfolio Standard (RPS). This translates into roughly 280,000 more jobs over the next decade, reported Renewable Energy Magazine.

“Another key finding includes over $2 billion in additional tax revenue for the state. Further, the study found that a comprehensive FIT would stimulate up to $50 billion in new private investment in the state with the potential for those renewable energy projects to be eligible for another $15 billion in federal tax benefits.”

 With two lead research academic centers reaching similar conclusions in regards to the advantages of implementing FiTs, it is no surprise that Los Angeles Mayor Antonio Villaraigosa, announced earlier this year an ambitious program to move the city's energy grid toward renewable energy sources and more specifically called for a "feed-in tariff," based on the Luskin Center’s research findings. A FiT would provide a financial incentive for property owners to install solar energy systems connected to the city's power grid.

>>>To read the full article click here.