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What is Feed-in Tariff mean?
A feed-in tariff (FIT, FiT, standard offer contract, advanced renewable tariff, or renewable energy payments) is a policy mechanism designed to accelerate investment in renewable energy technologies by offering long-term contracts to renewable energy producers. Their goal is to offer cost-based compensation to renewable energy producers, providing price certainty and long-term contracts that help finance renewable energy investments. Typically, FITs award different prices to different sources of renewable energy in order to encourage development of one technology over another. For example, technologies such as wind power and solar PV, are awarded a higher price per kWh than tidal power. FITs often include a "degression", a gradual decrease of the price or tariff, in order to follow: 25 and encourage technological cost reductions.: 100
referencePosted on 04 Nov 2024, this text provides information on Miscellaneous in Governmental related to Governmental. Please note that while accuracy is prioritized, the data presented might not be entirely correct or up-to-date. This information is offered for general knowledge and informational purposes only, and should not be considered as a substitute for professional advice.
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