What is not a FIT law

Under Quota Systems the government sets a target for renewable electricity production that increases over time, building a market for renewable electricity.   Most Quota Systems allow the target to be met by producing the renewable energy directly or by purchasing "credits."  For the trade of those "credits" an additional mechanism called Tradable Green Certificates or Renewable Energy Certificates or Credits is usually established. Read more below about examples in the United States and Europe.

Tradable Green Certificates (TGCs) (known as Renewable Energy Certificates or Credits (RECs) in the United States) are a tradable verification that a certain amount of electricity was produced from renewable sources.  Renewable electricity producers are given certificates for renewable electricity they produce.  Producers sell these certificates separately from the electricity that is produced.  Buyers of these certificates most often use them to meet a required target under a Quota System, but can also purchase them to be "green." Read more below about examples in the United States.

FIT laws and Quota Systems are interventions in the market. FITs fix the amount to be paid for the electricity, and allow the market to determine the amount of electricity generated. Quota Systems fix the latter, and allow the market to determine the former. The terms TGC, RPS, and Quota are sometimes used interchangeably in Europe to refer to systems with a quota target and tradable certificates available to help meet that target.

Read about the possible:
combination of FITs and RSP/Tradable Green Certificates

Tender schemes (or competitive bidding) are offers (or "tenders") for renewable electricity producers to supply renewable electricity up to a target predefined by the government.  Producers put forth bids and those with the lowest prices are awarded long term contracts or power purchase agreements.  Tendering can be used to meet any target, such as those under a Quota System or the EU Directive. 

Here you can learn more about the possible:
combination of REFITs and tender schemes

Tax and investment incentives are country, state, or region-wide programs through which certain types of renewable electricity producers are given specified incentives, which can be based on the number of kilowatt-hours they produce or an upfront payment to help reduce the initial costs of the renewable electricity system.  The incentives can be used to avoid taxation by the country, state, or region issuing the incentive.  The type of incentive offered and the type of production that qualifies varies widely.  At least 32 countries and most U.S. states have some variety of tax incentive. REN21 Global Status Report, http://www.ren21.net/globalstatusreport/gsr4b.asp.

Read more below about examples in the United States.

Read more about the possible:
combination of FITs and tax incentives
combination of FITs and investment incentives

Investment cost recovery laws pay a per KWh amount to renewable electricity producers to help cover the cost of the renewable electricity system.  In Washington State, qualifying renewable electricity producers are paid between 12 and 54 cents per KWh, depending on the type of producer, by the light or power business serving their properties for renewable electricity produced and used on site.  Qualifying producers are given the investment cost recovery directly or credited on their energy bill, rather than given an incentive to avoid taxation.  Participating light and power businesses paying the incentives are given credits on their state public utility taxes equal to the actual amount paid out.

The clean development mechanism (CDM) was created under the Kyoto Protocol (Article 12) as a mechanism for Annex I Parties to meet Kyoto targets by implementing certain projects in non-Annex I Parties that would result in certified emission reductions (CERs).  The CDM allows Annex I Parties to meet their commitments less expensively by funding projects in Non-Annex I countries that will reduce global greenhouse gas emissions rather than reducing emissions at home.  To register a CDM project, a project proponent must establish that the project will lead to more emission reductions than would occur without the project (additionality).  Small scale projects and afforestation or reforestation projects may also qualify for CERs.  See the United Nations Framework Convention on Climate Change, CDM web site:
http://cdm.unfccc.int/index.html.

Read more about the possible:
interaction of FITs with the Clean Development Mechanism

"Net metering" has some of the characteristics of a FIT law. It allows (usually small) consumers to produce and be paid for renewable electricity that they supply to the grid. This can be done by using electricity meters that turn backwards when the particular consumer's production is more than their consumption. In short, the producer "receives" the same price for each kWh produced as he would have paid for purchasing it from the local electricity provider. The same effect can be achieved by two meters, measuring consumption and production, though this is not technically net metering and allows different, usually lower, tariffs (or prices) to be paid for the electricity produced compared with the electricity consumed. Currently, 35 States in the U.S. are reported to offer net metering:
http://www.eere.energy.gov/greenpower/markets/netmetering.shtml

Ontario allows net metering:
http://www.energy.gov.on.ca/index.cfm?fuseaction=renewable.netmetering

Net metering is not backed up by the special rules needed to achieve the price and access objectives of a FIT law.
More information on net metering:
http://www.awea.org/faq/netbdef.html#Whatisnetmetering
http://www.urbanwindenergy.org.uk/index.asp?PageID=49