The future of Florida renewable energy is destined to be a product of its past. Although it is not racing toward the future, its future is still a hopeful one on the horizon. There are several key elements and players involved in the pursuit of Florida renewable energy. Politicians, taxpayers (read also as voters) utility companies and banks have had and will have a major role to play.

Politics Versus Renewable Energy

There have been multiple attempts to pass meaningful legislation in Tallahassee. Some of the most important ones are given below. Each attempt has been met by some resistance due to special interests. Legislative failure to pass these important bills has hampered, but not stopped, the forward momentum of Florida renewable energy.

  • Renewable Portfolio Standard — Otherwise known as RPS, this is a policy existent in 35 other states. Its goal is to set standards and targets for the state and utility companies. The goal would be a defined savings through energy efficiency or through additional power sources provided by renewable energy. The policy would create a variety of devices and methods to achieve the particular goals. It would also establish to banking and other lenders a set, meaningful value into which banking concerns and other lenders would be willing to invest. The problem is that it would require public investments in the form of higher utility bills or taxation.
  • Feed In Tariff — Feed in Tariff or FIT was introduced as a policy in 2008. It was brought to the state leaders by the Florida Alliance for Renewable Energy. Basically, the policy would seek to allow those using Florida renewable energy sources to sell back electricity to utility companies. Banks and other financial backers would also be willing to lend to invest in such renewable energy projects. The utility companies fear a loss in their market share and convinced lawmakers not to support it. The economic incentives for private companies would potentially be great for such a proposal.
  • Rebate Programs — One corner of success in the Florida renewable energy program has been rebates. The State Rebate Program began with a running start in 2006. Over 30 million went out to business and private individuals. Unfortunately, the program ended in 2010. There was a backlog of funds owed to the tune of 57 million. Much wrangling and confusion between legislators and contractors caused only 24 million to be earmarked for filling those promises. Disappointed recipients ended up with only 40 cents on the dollar. Recently, FPL offered solar rebates to Florida residents, but millions ran out in just a matter of minutes.

Once all parties, the taxpayer, utility companies, legislators and the banking industry are all on the same page, seeing the long-term benefits, there should be something in it for everyone. Banking will be able to see solid investments. The taxpayers will see a better economy and more jobs, utility companies will be more cooperative and not fear being undermined and politicians will feel comfortable with their constituent’s votes. Until then, the pursuit of a solid plan for Florida renewable energy continues.