Renewable energy FITs are in the news a lot these days here in Japan. “FIT” is the acronym for Feed-In Tariffs – a mechanism for paying for production of renewable energy at a guaranteed price. FITs are designed to encourage both investment in renewable energy production by allowing an energy producers to have a sure fire way to make money off their investment. FITs have proven extremely successful in developing the renewable energy market in a large number of countries.
A silly man commented to me online that FITs are somehow very bad. Initially I thought that this silly person must be misinformed, but upon looking up his name online, I discovered he works in the nuclear industry. FITs are not so good for people with vested interests in nuclear as FITs enable countries to get by without nuclear plants.