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Hawaii Will Reach 100% Renewable Energy Use In 2045

Author: Source: Datetime: 2019-01-17 12:54:48
The Hawaiian Electric Company issued a major statement this week that seems to be able to reach the goal of 100% renewable energy use in 2045. Recently, the national regulatory agency received seven new solar + energy storage contracts from the Hawaiian Power Company. Of the seven transactions, six were at historically low prices. It reached 10 cents per kWh.
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These projects will add 262 MW of solar power generator solar power generation facilities and increase the storage capacity of 1048 MWh after being approved by the regulatory authorities on three islands. According to the company, these projects will provide electricity to “replace volatile fluctuating fuel prices” at a price of about 15 cents per kWh.

Developers developing these projects are AES, Clearway, Innergex and 174 PowerGlobal. These contracts are important for both price and quantity.
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Dan Finn-Foley, senior energy storage analyst from WoodMackenzie Power & Renewables, said: "It is difficult to exaggerate the scale of this statement."

These Power Purchase Agreement Contracts (PPAs), once approved by the US utility commission (public utility commission), will greatly boost the US power storage market. Currently, WoodMac has a storage capacity of 14 GWh in the United States, while Hawaii has a storage capacity of only 75 MWh.

Finn-Foley said the Hawaii Power project will help the market in the region nearly double its growth.
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