Utilities group PSEG Long Island in the U.S. state of New York has announced the results for the second Clean Solar Initiative in Long Island.
The feed-in-tariff program builds upon the Long Island Power Authority's first feed-in tariff for solar energy and is designed to bring an additional 100 MW of solar energy to Long Island, part of the New York metropolitan area that comprises the New York City boroughs of Brooklyn and Queens as well as the state counties of Nassau, and Suffolk.
After a four-month application period that ended on Jan. 31, 2014, PSEG Long Island received 178 proposals from 55 separate entities reflecting a broad range of proposed bids.
Following a comprehensive analysis, the final bid price of $0.1688 per kilowatt hour was selected to be paid to developers for PV systems of various sizes and types that are anticipated to be constructed across Long Island.
In total, this 100 MW of solar energy is expected to be generated from 76 separate projects, which is enough to power about 13,000 homes. The PV systems will provide energy for at least the next 20 years and create hundreds of construction jobs.
"These auction results have yielded a price for solar energy almost 25 percent below the price being paid for the first feed-in-tariff on Long Island, for a savings of $8.1 million per year," said Michael Voltz, director of Energy Efficiency and Renewables for PSEG Long Island. "We are pleased to be working with the solar industry to continue driving down costs of solar energy on Long Island."
PSEG Long Island said the decline in price reflected a number of important 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
The company said the success of the feed-in-tariff program ensured continued growth and diversification of Long Island's renewable energy portfolio.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: email@example.com.