Photo of the Remarkables mountain range in Queenstown, New Zealand.

CUC to use more client generated power

| 13/02/2015 | 0 Comments

(CNS): The Electricity Regulatory Authority has approved a revision to the current Feed-in Tariffs (FITs) programme, which allows people who have their own source of alternative power generation, such as solar panels and wind turbines, to remain connected to the CUC grid and feedback electricity they generate. The revision increases the maximum total capacity available from 2MW to 3MW.

ERA Managing Director Charles Farrington said consumers have found the FIT programme to be economic and it has accelerated the installation of renewable energy in recent months.

“The ERA looks forward to continued positive reaction from consumers and will be considering the programme further to determine if any other changes should be made in order to enhance the benefit to consumers,” Farrington said, noting the full exemption from import duty on renewable energy equipment for residential homeowners.

He said the authority hoped the revised FIT programme would continue to incentivize the growth and use of renewable and alternative energy, help to cut Cayman’s dependence on fossil fuels and reduce the islands’ carbon footprint.

CUC President Richard Hew said the firm was pleased with the uptake of its Consumer-Owned Renewable Energy (CORE) Generation Programme, which allows customers who are generating energy through renewable and alternative energy means to stay on the grid and benefit from secure connection.

“We look forward to continued positive customer participation and the resultant increase in renewable and or alternative energy available to our system to displace fossil fuel and its associated emissions,” Hew added.

CUC said the CORE programme allows both CUC and its customers to participate in protecting the environment and creating long-term energy security. The Feed-in Tariffs (FITs) programme began in February 2011 and this latest change will increase the maximum total capacity available from 2MW to 3MW. Customers on the programme are compensated through long-term rates.

Residential CORE customers are paid CI 38.5 cents per kilowatt hour and commercial customers CI 37.5 cents per kWh for all the renewable energy they generate. They are billed monthly at the normal retail rate of around CI 30 cents per kWh for their total energy consumption and then credited with their FITs rate for the total output of their renewable or alternative generation system to the grid. At the end of each calendar quarter, CUC pays CORE participants for any accumulated credit balance on their account.

The twenty-year FIT contract agreements will allow the owner of the renewable energy system to recover their capital investment with an assured reasonable return on their investment, CUC stated.

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Category: Alternative Energy, Technology

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