Long Island to add 100MW PV
PSEG Long Island has selected 76 projects under a 100MW feed-in tariff solar PV initiative that will be built and enter full service between April 2015 and April 2016, the company tells Recharge.
It is not releasing the list of winners at this time. Once the eligible bidders accept the proposed final bid price offer of $0.1688 per kWh for their solar power and complete the interconnection agreement, their names will be made public, says Elizabeth Flagler, a media relations specialist at PSEG Long Island.
The company intends to sign 20-year power off-take agreements with PV facility owners.
"These auction results have yielded a price for solar energy almost 25% below the price being paid for the first feed-in-tariff on Long Island, for a savings of $8.1m per year," says Michael Voltz, director of energy efficiency and renewables for PSEG Long Island.
He attributes the price decline to several factors:
*Increased consumer awareness, understanding, availability and demand for solar energy.
*Competition among a growing solar industry on Long Island.
*Ongoing decline in costs of manufacturing and installing solar.
*Federal, state and local tax incentives.
Flagler says that PSEG Long Island will have 230MW of solar generation capacity when the new projects fully enter service.