North Carolina could come closer to living up to its solar power potential with a $500 million dollar investment from Duke Energy. The corporation said this week it will construct three solar farms to generate 128 megawatts of electricity – in Elm City, Fayetteville and Warsaw.
John Wilson with the Southern Alliance for Clean Energy says greater availability of solar could ultimately stabilize consumer electric bills,”The price for these projects doesn’t go up. There’s no fuel cost increase with the sun shining, then if prices of other fuels go up, the customers will be insulated from price hikes.”
Duke Energy also announced it would purchase 150 megawatts of solar power from independent developers. Last year, 335 megawatts of solar capacity was installed in North Carolina, ranking it third in the nation and generating enough electricity for more than 31-thousand homes.
Stephen Smith, executive director of “SACE,” agrees with Wilson’s assertion that solar growth could impact the bottom line for utility customers, “They will serve as a stabilizing effect on fuel prices for North Carolina. So, the benefits will come more and more into the future, as we see these solar facilities run just any time the sun shines.”
State law dictates that North Carolina’s electric power suppliers meet an increasing amount of their customers’ energy needs with a combination of renewable energy resources. The law was passed in 2008, and Wilson says Duke’s announcement is a testament to its success,”This action by Duke is also the culmination of many years of implementation of North Carolina’s energy law, which was a far-sighted effort by the North Carolina Legislature.”
Today, North Carolina has a total of 627 megawatts of solar energy installed, powering the equivalent of more than 68,000 homes. Last year, a total of 787 million public and private dollars was invested in solar power for home and business use.