HECO announces details of its massive contracted solar-plus-storage projects, including PPA pricing

Published:
January 3, 2019
Coverage:
Owning the Energy Transition More...
Categories:
Microgrid systems and technologies | Lithium-ion batteries More...
Activities:
Project
11801 thumb square
by Max Halik
Very important

Hawaiian Electric Companies (HECO) recently announced further details for its seven announced solar-plus-storage projects. Specifically, it disclosed power purchase agreement (PPA) prices, ranging from $0.08/kWh to $0.12/kWh. These are actually slightly higher than recently announced projects in California and the Southwest, in part due to the remote location and slightly weaker solar resource. But most importantly, these prices are cheaper than the levelized cost of electricity from oil-based generation, which makes up the bulk of Hawaii's fossil fuel capacity. This means that Hawaii is well on track to meet its 100% renewables goal and shows signs of doing so in a cost-effective way, despite a slight premium for projects.

For the original news article, click here .


Further Reading

California utility PG&E files for Chapter 11 bankruptcy due to 2017/2018 wildfire liabilities

News Commentary | January 14, 2019

The California utility PG&E declared Chapter 11 bankruptcy after the estimated $30 billion in liabilities from 2017 and 2018 wildfires caused by PG&E equipment eclipsed available cash and credit. The utility had been playing a critical role in California's 100% carbon‑free electricity goal, ... Not part of subscription

Energy UK reports that record numbers of electricity retail customers switched suppliers in 2018

News Commentary | January 21, 2019

Energy UK announced that according to its survey figures, approximately 5.8 million households in the U.K. switched electricity retailers in 2018; this amounts to about one in five households. Overall, the net movement was away from the Big Six suppliers toward smaller retailers. From this news, ... Not part of subscription

Sparking Fossil Fuels: How oil and gas companies are coming to grips with new energies

State of the Market Report | December 31, 2018

As the utility industry has been roiled over the past few years with the rise of cheap and distributed electricity from wind and solar systems, oil and gas majors have come to see this as an opportunity. This report examines investment activity from the largest oil and gas majors in renewable ... Not part of subscription