TEP to buy solar power at under 3 cents per kWh

The Arizona utility has signed a 20-year contract to buy electricity from a 100 MW plant at this new record low price.

A central factor in solar’s exponential and disruptive growth of global energy markets is the continual fall in the cost of electricity from PV. As further evidence of this, yesterday Arizona utility Tucson Electric Power (TEP) announced that it has signed a contract with an affiliate of NextEra Energy Resources to buy power from a 100 MW solar PV project for under three U.S. cents per kilowatt hour (kWh).

This is the lowest price that pv magazine has seen in the …

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