| In the interest of speed and timeliness, this story is fed directly from the Associated Press newswire and may contain spelling or grammatical errors. |
LA agency approves $150 million toward solar power
Wednesday June 18, 2003LOS ANGELES (AP) The Department of Water and Power approved a $150 million incentive plan that encourages residents and businesses to use solar power.
The plan unanimously approved Tuesday by the agency's board will be offered over the next eight years and aims to meet an increase in demand in solar energy. The proposal will increase the program's budget by helping people use renewable energy by subsidizing the cost of installing solar electric systems.
``Solar power is clean, and once it is in operation, solar can provide significant cost savings to energy consumers facing the effects of rising natural gas prices,'' Mayor James Hahn said.
DWP General Manager David Wiggs said the agency's annual budget will be increased to $20 million this fiscal year and $16 million the following year.
(