Investor-owned utilities pay top executives millions — are they worth it?
Energy and Policy Institute has tracked the past three years of CEO compensation at 41 investor-owned utilities across the country. And, while the numbers are eye-popping, a well-paid CEO does not necessarily reflect company success.
Texas could add 3.5 GW of solar this year
Additional solar could help the ERCOT grid region in Texas meet its summer peak, after it faced “tight grid conditions” last summer. New task forces aim to improve ERCOT’s markets for ancillary services and battery storage.
Philadelphia-area transit agency expects six-figure annual savings from 44 MW solar project
The transit agency expects to save “several hundred thousand dollars a year, on average” through its fixed-price contract for solar power. The agency’s sustainability program “is a platform not just for environmental improvements, but for financial improvements,” said an executive.
Morning Brief: Solar and wind are the cheapest new sources of electricity, Appalachian Power halts distributed projects
Also in the brief: Ohio regulators have approved an 80 MW array, Sierra Club responds to Duke’s climate report, Rhode Island funds brownfield projects and more.
Solar beats gas when utilities use all-source procurements
With an all-source procurement, a utility solicits bids to identify the costs of solar, wind and storage, which can be “significantly less expensive than new gas,” as an Indiana utility found. A clean energy group calls for state regulators to require all-source procurements, for the vertically integrated utilities that serve half the country.
Duke doubles renewable goals while staying committed to fossils
The utility giant now owns or purchases 8,000 MW of renewable generation, with plans to double that mark by 2025. However, while the company eyes zero-carbon electricity by 2050, it maintains that natural gas will remain a crucial source to achieve this goal.
Morning Brief: 8minute Solar adds 3 GW of large-scale solar projects to the pipeline, Total wins projects in France
Also in the brief: California regulators will include avoided transmission costs to the valuation of distributed energy resources, the Southeastern Pennsylvania Transportation Authority has signed two power contracts, Philadelphia has reopened its Solarize Philly program and more.
Storage companies raised $244 million in corporate funding to start 2020
A new report released by Mercom Capital shows that while funding is down from Q4 2019, it is up substantially year-over-year.
Kentucky city of 28,000 selects 50 MW of solar to help lower electric bills
Henderson, Kentucky’s municipal utility selected 50 MW of solar, which will provide 15% of its annual electricity. “In western Kentucky we do have a pretty good solar resource,” says the utility’s general manager.
Morning brief: Elon Musk’s battery day ‘will blow your mind,’ Chinese module prices expected to rise 12.5%
Also in the brief: Powerhome has partnered with Generac, Duke Energy is donating $150,000 in low-income bill relief, Seychelles readies the world’s largest salt-water floating solar plant and more.
