California renewable energy prices fell to record lows in 2019, driven by the proliferation and falling costs of wind and solar power, the CPUC said Monday in its annual report to the State Legislature. Renewable portfolio standard contract prices dropped to 2.82 cents/kWh in 2019, compared with 3.81 cents/kWh in 2018, for all RPS-eligible energy, the CPUC said in its 2020 Padilla Report. The state’s three large investor-owned utilities continued to pay at a far higher rate because of renewable contracts signed last decade before prices fell dramatically. Source: RTO Insider
Small town Georgia meets big solar and jobs: “Commercial operations have begun” on Invenergy’s 160 MW Southern Oak solar project in Mitchell County, Georgia. Construction to this solar plant began in 2018, and as the project continues to grow and expand, money is being poured into Mitchell County’s economy. Paige Gilchrist, executive director of the Mitchell County Development Authority, said this has a great short-term impact on the community. The success of this project has led to other solar power projects in the county. Source: WALB
The U.S. Department of Energy (DOE) to invest more than $5 million in tribal energy infrastructure: In addition to the DOE funding, $5 million will be cost-shared by tribal communities. These energy projects are the result of a competitive funding opportunity announcement.“The selected projects are consistent with the principles of tribal sovereignty and self-determination, with a fuel- and technology- neutral energy strategy that recognizes the breadth of energy resources on tribal lands, and each tribe’s right to use them as they see fit,” said Office of Indian Energy Director Kevin Frost. Source: DOE
- Relevant coverage: Los Angeles to explore solar partnership with the Navajo nation, 2 GW pumped storage project proposed on Navajo Nation lands
Windmill Capital Management, a clean energy finance company, launched an offering for a private clean energy investment fund, Windmill Clean Energy Credit Trust (CECT), that will offer up to $250 million of Class 1 Beneficial Interests to accredited investors. CECT will fund purchase-money loans secured by commercial solar, cogen and biomass energy projects around the U.S. “Commercial clean energy represents an overlooked opportunity for institutional and accredited investors.” said Brian Jones, managing director of WCM. Source: WCM
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