LADWP's Feed-in Tariff Program: Turning Los Angeles Parking Lots into Powerhouses
The Los Angeles Department of Water and Power (LADWP) and its Feed-in Tariff (FiT) program is helping to transform vast concrete expanses into revenue-generating solar fields. For local businesses with parking lots, this is an opportunity like never before. Here's why:
1. What is the Feed-in Tariff (FiT) Program?
The FiT program, championed by LADWP, encourages the production of renewable energy within the city limits. Under this initiative, businesses, and property owners can install solar photovoltaic (PV) systems on their properties. Rather than consuming this power themselves, they can sell it back to LADWP at a predetermined rate. This rate is locked in for 25 years, ensuring a consistent revenue stream.
2. Zero Upfront Cost - Pure Profit!
The most striking aspect of this program for businesses? There’s zero initial investment required. No hefty installation fees, no maintenance costs. All that’s needed is space. LADWP, in collaboration with solar providers, will take care of the installation and upkeep. Businesses, particularly those with vast parking lots, are in a prime position to capitalize on this. By converting these underutilized spaces into solar hubs, they can generate an entirely new source of income.
3. Parking Lots: The Unsung Solar Heroes
Parking lots across Los Angeles cover acres of flat, open space – ideal for harnessing solar energy. Large retailers, malls, office buildings, and even small businesses with decent-sized lots can take part. The more area you have, the more solar panels can be installed, and thus, the greater the revenue.
4. Environmental Benefits - Going Beyond Profits
Apart from the direct monetary benefits, participating businesses are making a tangible difference in reducing the city's carbon footprint. By adopting solar energy, they’re contributing to the reduction of greenhouse gas emissions and fostering a cleaner, greener urban environment.
The LADWP's Feed-in Tariff program presents a golden opportunity for businesses across Los Angeles. Sunistics can help you find out how to get your parking lot approved. Get more information here www.sunisticsgroup.com/feedintariff or email customer@sunisticsgroup.com.