Feed-in-tariff scheme launch on Dec 1

Posted on August 16, 2011. Filed under: Energy |

-The Star-

PUTRAJAYA: The 1% feed-in-tariff (FiT) for the development of renewable energy will now be launched on Dec 1 instead of Sept 1.

In a statement, Energy, Green Technology and Water Minister Datuk Seri Peter Chin stated that the ministry was working with the Attorney-General’s Chambers to finalise the legal instruments under the Renewable Energy Act 2011.

The renewable resources eligible for the FiT are biogas, small hydros and solar photovoltaic (PV) systems.

FiT is a mechanism that prioritises electricity generated from indigenous renewable energy resources to be purchased by power utility firms at a fixed premium price for a specific duration.

The FiT scheme has been proven successful in accelerating renewable energy deployment, reducing carbon emissions and creating jobs in many countries, the statement said.

Chin said a sound and resilient regulatory framework was crucial to ensure that the FiT system operated smoothly.

In April, Parliament passed the Renewable Energy Act 2010 and Sustainable Energy Development Authority (Seda) Bill. The latter will oversee the implementation of the Act and manage the FiT mechanism.

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