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10/23/2008 07:28 AM
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Duke to Cut $100M Solar Program in Half
SustainableBusiness.com News
Duke Energy Carolinas has cut its proposed $100 million rooftop solar program in half, at the urging of state regulators, according to the Charlotte Business Journal.
The company, which is a subsidiary of Duke Energy Corp (NYSE: DUK), is
now seeking approval from the N.C. Utilities Commission for a $50
million investment to create a solar network spanning 420 sites.
The Public Staff, whose responsibility it is to protect the interests
of consumers, suggested that a smaller program would improve the
competitive playing field for independent solar energy producers, while
meeting Duke's need to produce renewable energy under state law.
Under Duke's plan the company will lease rooftop space from customers
to build and own solar systems. Duke would also own all of the energy
produced by these systems, as well as the renewable energy credits
(RECs) they generate.
Some environmental groups, inluding the N.C. Sustainable Energy
Association, say this arrangement will create a barrier to independent
investment in solar power. They contend that Duke should be required to
meet a portion of its state mandated renewable quota through
independent solar generators.
Under North Carolina law, Duke an other utilities in the state
must produce .02% of the energy they sell from renewable sources, by
2010. The amount ramps up to 12.5% by 2021.
Duke says it is unrealistic to rely on independent producers, given the relatively short time span involved.
