Austin Energy, one of the nation’s largest city-owned utilities, handed San Francisco-based Recurrent Energy a contract to build 150 megawatts of solar capacity at a site in West Texas, where Recurrent expects its sun-harnessing farm to be operational in 2016.
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“It’s all about economics,” Recurrent Chief Executive Arno Harris said in an interview with FuelFix. “We’ve come to a place where costs are so low that we can offer a competitive price” for electricity on the Texas grid.
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The city said its best offers were about 5 cents per kilowatt hour, possibly the cheapest solar-power deal in the United States to date, according to media reports.
