Power Rate Increase Will Promote Renewable Energy in LA
The Los Angeles Department of Water and Power (LADWP) is expected to announce an increase in electrical rates at their annual meeting next week. Some of the funding will be spent on promoting renewable energy, including rebates and buy back incentives for homes and businesses to allow their excess private solar generated energy to be fed power back into the grid. There would also be funding to encourage new solar development and commercial wind farms.
Jay Carson, the chief deputy mayor of Los Angeles, said the rate increase will function like a "well-crafted carbon surcharge" that will achieve two goals. "The first is a drastic reduction in fossil fuel usage for energy, but the second, and more important for Los Angeles, is the creation of thousands of green-collar jobs.” Although rate increases are not popular with California consumers, LADWP has projected that it will provide between $150 and $160 million towards investment in alternatives to coal. They would also earmark funding to support Governor Schwarzeneggar’s goal to have Californians install one million solar roofs by 2018.