LADWP’s FiT program can generate additional income for commercial property owners.
The Los Angeles Department of Water and Power (LADWP) is pushing forward to hit its ambitious renewable energy goals by incentivizing commercial property owners to invest in solar systems.
LADWP’s Feed-in Tariff (FiT) program can generate a new revenue stream from a renewable energy project for up to 20 years.
Capitalizing on an unused rooftop of a commercial building or vacant lot could turn it into a solar hub and yield profits for years to come.
What is the Feed-in-Tariff program?
The FiT program is designed to help the City of Los Angeles do two things:
- Achieve 100% renewable energy by 2045 (part of L.A.’s Green New Deal)
- Help LADWP maintain a reliable grid
By participating, LADWP commits to buy back all power generated from the project for 20 years or a 10-year term with an option to extend another 10 years.
The power is purchased at a predetermined rate based on the size of the system’s capacity.
Carport and Canopy Incentives
Property owners with large parking lots can use this program by converting these underutilized spaces into solar-generating fields.
These projects receive a one-time rebate from LADWP based on a few factors: size, location, and installation costs.
Projects in disadvantaged communities designated by the California Environmental Protection Agency (CalEPA) can receive higher incentives.
How to qualify for the FiT program
Applicants for the FiT program need the following basic qualifications:
- The project has to be in the LADWP service area
- The capacity size of the project has to range from 30kW to 10MW
- The development team has to have at least one previous successful build of a similar project
For those looking to take advantage of the FiT program, picking the right solar partner is key. Green Convergence has the resources and industry expertise to make your application and installation process seamless.
Given our proven development history of multiple commercial projects, we will handle various processes on your behalf, including the application, the interconnection agreement, the site development plan, and installation.
According to the FiT Program Dashboard, there is room for LADWP to add more projects.