NEWS COMMENTARY

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

Published:
January 3, 2019
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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 .


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