NextEra Energy Inc. said its Florida Power & Light utility plans to build about 20 gigawatts of solar-generating capacity over the next decade, double its previous target.
(Bloomberg) — NextEra Energy Inc. said its Florida Power & Light utility plans to build about 20 gigawatts of solar-generating capacity over the next decade, double its previous target.
Solar has become the lowest-cost electricity source for Florida customers, NextEra said Tuesday, and the expansion will protect them from increasingly volatile natural gas prices.
“We continue to see a very strong renewables development environment,” NextEra executive Rebecca Kujawa said during a conference call on Tuesday. “If anything, I’m concerned whether we and everybody else have enough renewables to support demand.”
Read more: Staggering Boom in Renewables Seen in US by 2030, BNEF Says
The solar expansion will increase the percentage of power FPL gets from the sun to 35% in 2032 from about 5% last year. Clean-energy sources are experiencing a tremendous boom thanks to US President Joe Biden’s landmark climate law as well as booming consumer and industrial demand. One gigawatt is roughly equal to the electrical output of a large nuclear reactor or gas-fired power plant.
More stories like this are available on bloomberg.com
©2023 Bloomberg L.P.