$500 Million Solar Investment In North Carolina - Independent Green Technologies

$500 Million Solar Investment In North Carolina

Published on October 6th, 2014

North Carolina, the leading solar power provider in the south, has another massive project to produce even more solar renewable energy for its residents.

Duke Energy, the largest provider of electric power in the United States, has committed to investing $500 million in North Carolina, to create 8 different solar projects that will generate 278 megawatts of capacity of electric power.

That’s quite an increase in solar power for North Carolina residents and businesses. This move from Duke Energy will help meet state requirements that energy companies generate 12.5 percent of their power through renewable sources by 2020.

North Carolina Solar Investment

Credit raleighnc.gov

This investment by Duke Energy will represent a 60% increase in the amount of solar power for North Carolina customers.

Three solar installations will be implemented in Bladen, Duplin and Wilson counties with a total capacity of 128 MW.

Duke Energy will be the owners of all 3. Duke also signed five power purchase agreements for 150 MW of solar power.

Strata Solar Chapel Hill

Strata Solar of Chapel Hill is one of the contractors working with Duke Energy.

Credit: Strata Solar

Earlier this year, Duke Energy was cited for not storing enough coal ash for power generation.

After acknowledging that American coal supplies would run out at some point, they have made a request for proposal for the 8 different solar projects in February 2014.

Duke Energy is a leader in utility companies that are incorporating solar power into their energy generation mix.

The decreasing cost of solar power has made it affordable for them to do so, and many other utilities should soon follow.

The 278 megawatts that Duke Energy will add is still quite a small fraction of the nearly 50,000 megawatts of capacity it produces nationally, but its a great representation of the increase of importance & usage of solar renewable energy.

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