Renewables Insights: Examination of Nevada Power Company’s Record Low Solar and Solar + Storage PPA Announcement

In early June 2018, the state of Nevada made public a Nevada Power Company filing to the Public Utility Commission (PUC) of Nevada for approval to sign six power purchase agreements (PPAs) for solar photovoltaic (PV) projects totaling 1001 MW, three of which included battery storage totaling 100 MW/400 MWh. The announcement of these PPAs made headlines for both the record low price of the PV (for the U.S.) and, perhaps more importantly, for the small price premium required for the inclusion of storage. This Renewable Insight looks at the details of this filing to analyze the pricing premium of the storage, doing so in two ways: as an “adder” to the PPA price and as a standalone price of storage.

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