NV Energy has signed a 25-year power contract for 2.376¢/kWh for the output of a 300 MW solar power plant in Nevada. This represents a new record for the lowest public contract price for solar power in the United States.
NV Energy, owned by Warren Buffett’s Berkshire Hathaway, has signed contracts to purchase electricity from six solar projects totaling 1,001 MW-AC along with 100 MW / 400 MWh of energy storage.
U.S. corporate procurement of renewables increased 16% last year, despite uncertainty around the future price of solar due to the trade case.
The company is looking for renewable energy projects at least 35 MW in capacity, as well as batteries with a minimum 25 MW, four-hour rating.
The Public Utilities Commission of Nevada has issued an order that will reduce fixed charges as well as energy charges and the utility’s rate of return, noting the benefits to the rooftop solar market.
On the same day it announced an aggressive solar plan for its home country of France, EDF’s U.S. subsidiary added two major plants to its portfolio in conjunction with NV Energy.
The Nevada utility is seeking regulatory approval for three solar PPAs totaling 100 MW-AC, which have the lowest prices seen by pv magazine staff in the United States to date.
In a victory for rooftop solar in the states, the Nevada Public Utilities Commission rejected NV Energy’s attempts to use Assembly Bill 405 to institute usurious rate changes that would have made solar’s economics tight for many potential customers.
As the Nevada PUC puts NV Energy’s rate plan on an accelerated approval schedule, companies race to register their opposition before time runs out.
The Nevada utility holding company’s response to mostly losing the latest battle over net metering in the state is to attempt to ram through a significant rate redesign which the solar industry says would impact not only solar but low-income customers.
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