photo: Southern California Edison
It hasn’t received much media attention, but the California Public Utilities Commission has just proposed instituting a first-of-its-kind reverse auction market to spur renewable energy development — mainly solar photovoltaic. As I write today in The New York Times:
California regulators are taking an eBay approach to ramping-up renewable energy in the Golden State.
In what might be a world first, the California Public Utilities Commission on Thursday proposed letting developers bid on contracts to install green energy projects. A solar company that offers to sell electricity to one of California’s three big utilities at a rate lower than its competitors would win a particular power purchase agreement.
This “reverse auction market” feed-in tariff is designed to avoid the pitfalls the have plagued efforts in Europe to encourage development of renewable energy by paying artificially high rates for electricity produced by solar power plants or rooftop photovoltaic projects.
You can read the rest of the story here: