Florida Solar Initiative Helps Out First Solar (FSLR), et al.

As the US Congress wastes time trying to take down phantom oil boogeymen, it’s unclear when or if the crucial solar Investment Tax Credits will be renewed. However, Florida is showing how states can incentivise solar energy without the help of the federal government. AmTech:

Florida Power & Light Company is planning to proceed with new solar energy projects that include one of the world’s largest photovoltaic solar plants and first “hybrid” energy centre, coupling solar thermal technology with an existing combined-cycle generation unit.

Electricity in FLA is generally pretty cheap relative to expensive regions such as Spain, Italy, Germany, and CA, signaling broad-based adoption may not be as distant as the bears would suggest. [i.e., if Florida can make the numbers work, others can]. FLA residential electricity rates are in the $0.11 kWh range versus CA at $0.14. European rates are much higher at $0.20+. FLA does not have any significant solar subsidies in place, but with its new energy bill being signed into law, the state is raising rates in order to finance new projects. This brings solar closer to grid pricing ex-cost reductions on the solar side of the equation.

See Also:
Latest First Solar (FSLR) News and Analysis

Lehman Jacks First Solar (FSLR) Target to $335, Sees Q2 Upside
First Solar (FSLR): Here’s Why Three of Those Concerns Are Overblown

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.