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First Solar May Sell Cheapest Solar Power, Less Than Coal

Original story at Bloomberg• 8 mentions • 1 year ago

Bloomberg 1 year ago

By Ehren Goossens & Christopher Martin - 2013-02-01T00:01:00Z First Solar Inc. (FSLR), the world’s largest thin-film solar manufacturer, may receive the lowest rates ever for selling U.S. solar power, less than electricity from new coal plants, for a project it purchased in New Mexico, according to a regulatory filing. First Solar bought the 50-megawatt Macho Springs project from Element Power Solar, according to a statement yesterday. El Paso Electric Co. (EE) agreed to buy the power for 5.79 cents a kilowatt-hour, according to a Jan. 22 procedural order from the New Mexico Public Regulation Commission. That’s less than half the 12.8 cents per kilowatt-hour average price for new coal plants, according to data compiled by Bloomberg. Thin-film photovoltaic power typically sells for 16.3 cents a kilowatt-hour, according to Bloomberg New Energy Finance. The price would be “the lowest solar power purchase agreement price we have ever seen,” Aaron Chew, an analyst at Maxim Group LLC in New York, said in an e-mail. It’s less than half the price that First Solar will get for its Antelope Valley, Topaz, and Agua Caliente projects, he said. El Paso Power has until tomorrow to submit additional information on how renewable-energy credits related to the project may affect the utility’s costs.
 
 
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What they're saying:

04 Feb
Bill McKibben @billmckibben
Solar half the price of coal in lates New Mexico bids http://t.co/iNxCqiFf
04 Feb
The Climate Group @ClimateGroup
First Solar may sell cheapest #solar power at a lower rate than coal, according to Bloomberg models http://t.co/fKVCPqpH #cleanrevolution
02 Feb
Global Green USA @globalgreen
RT @350: Whoa: solar power is now cheaper than coal in New Mexico. That's progress. http://t.co/0xvke1ef Time to move #ForwardOnClimate
02 Feb
EarthIslandInstitute @earthisland
RT @adamwerbach: Solar Cheaper than Coal RT @drgrist: First Solar May Sell Cheapest Solar Power, Less Than Coal http://t.co/JmB0ZksY And ...
02 Feb
adamwerbach @adamwerbach
Solar Cheaper than Coal RT @drgrist: First Solar May Sell Cheapest Solar Power, Less Than Coal http://t.co/JmB0ZksY And so it begins ...
01 Feb
David Roberts @drgrist
First Solar May Sell Cheapest Solar Power, Less Than Coal http://t.co/twRTj8Lw And so it begins ...
01 Feb
Earthjustice @Earthjustice
Company may sell #solar power to grid at 1/2 price of a new coal plants in New Mexico. http://t.co/cUnY3B4S
01 Feb
Alan Nogee @alannogee
Wha? RT @votesolar Tell us again abt how renewables R 2 expensive? 50 MW of solar less than HALF THE PRICE OF NEW COAL http://t.co/FMlQco2a