Florida Solar Power

Florida has plans to install ~500 MW of solar power by 2024. Florida, the sunshine state of USA is currently ranking 13th in the installed solar capacity according to the Solar Energy Industries Association. The state has 234 MW of installed solar power at present. Duke Energy (DUK) has plans to install 35 MW of solar power by 2018 and then further in accordance with a 10-year plan.

Duke Energy has been relatively behind other utilities in building renewable energy assets, unlike other utilities like NRG Energy and Exelon. At present Duke does not own any solar installation in Florida. The state’s largest utility NextEra Energy Inc announced building three solar plants in January this year. The residential and commercial customers who install solar will be allowed annual rebates worth $2 million as per Duke. Already 2000 customers have subscribed to it.

The sunshine state of Florida has been a laggard when it comes to homeowners, who want to install rooftop solar power. The state does not allow people to buy solar electricity directly from someone other than a utility company. Other states in US like California, New Jersey, and New York have been quite aggressive with their rooftop policies and in collaboration with companies like SolarCity have also been promoting solar lease programs.

About Duke Energy

Duke Energy is the largest electric utility in the USA, with most of its power capacity based in the world’s most powerful country, USA. It has a safe cash flow because of the company’s regulated utility segment, which allows it to get a fixed ROE on its investment. The company has a diversified fuel capacity of coal, nuclear energy, hydroelectricity and natural gas.

“Innovative investments in solar energy will provide customers with more options to use this resource, while diversifying our energy mix and continuing to meet the needs of Florida’s growing economy and population,” Alex Glenn, state president for Duke, said in the statement.

Renewable Energy World