Florida Public Service Commission approves cost recovery for two Duke Energy Florida solar projects
The Florida Public Service Commission (PSC) approved this week cost recovery for the development of two solar projects by Duke Energy Florida, LLC (DEF).
The PSC found that the Hamilton Solar Power Plant and the Columbia Solar Power Plant are cost effective and meet the provisions of DEF’s 2017 Stipulation and Settlement Agreement approved by the PSC.
The 74.9 megawatt (MW) Hamilton Project facility, went into service in December 2018. The Columbia Project, also a 74.9 MW facility, will enter service in early 2020.
“DEF’s solar projects are forward-thinking, cost effective, and benefit customers, while producing emissions-free energy,” PSC Chairman Art Graham said. “They are a win-win for the company and for its customers, and the solar projects also defer the need for future gas-fired generation.”
The Hamilton and Columbia Projects are the first of the company’s planned 700 MW of solar production. The projected weighted average installed cost for the two solar projects is $1,486 per kilowatt alternating current (kWac). This is less than the cost anticipated in the agreement.
DEF requested the approval of $29.2 million in total annual revenue requirements for the two projects and petitioned for cost recovery through a Solar Base Rate Adjustment (SoBRA). A SoBRA enables the PSC to consider adding solar projects to a utility’s rate base without the expense of a full rate case proceeding.
