This solar contract also allows the utility to purchase an additional 30 MW provided it is feasible. Image: Earl McGehee / Flickr
The Austin City Council has approved a new agreement with Austin Energy that will see the utility company deliver enough renewable energy to the grid to meet the needs of more than half of its customers by 2020.
This goal was reached after the city council approved a contract that will allow the utility to purchase energy generated by a new 150MW PV project — which will boost Austin’s solar capacity to nearly 800MW.
Austin Energy currently produces enough renewable power to meet 40% of its 475,000 customers’ power needs. Once this 150MW PV project is operational, Austin Energy is expected to become 51% renewable in 2020. The agreement approved by the Council calls for the purchase of 150MW from Intersect Power.
This solar contract also allows the utility to purchase an additional 30 MW provided it is feasible and has the same favorable economics. The Intersect agreement will cost an estimated US$10-12 million per year for 15 years.
Jackie Sargent, Austin Energy general manager, said: “This purchase power agreement not only gets us closer to achieving the City’s renewable energy goals, but it’s also a good deal for our customers. I am pleased that we can pursue this affordable project and continue to demonstrate economic and environmental leadership on behalf of our community.”
Solar Media’s Energy Storage Summit Americas has arrived in Fort Lauderdale to provide a platform for this next step in renewable energy industry. The energy storage market and development brings as many challenges as it does advancements, with a myriad of technologies, capacities, functions, and lifespans. With most projects still in development and technologies with sparse track records, knowledge in this fledgling industry is invaluable. Investors, utilities, consumers, and all renewable energy participants have to not only understand the market, but be able comfortable enough to make the right investment in energy storage to not be left behind the curve. Our event is the platform for companies to bridge the gap between “future energy storage plans” and “installed energy storage”. Join us to discuss the latest news on standardization, comparing battery technologies, financing projects in different markets, resilient microgrids, and storage use for emergency response and aid, among many others. We will not only to educate and familiarize attendees on the capabilities and benefits of energy storage, but make the connections, and introductions, to accelerate energy storage development in North, Central, and South America.