Duke Energy hampering investments in NC Solar farms

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It’s all about the duration of contracts:

One of the nation’s biggest solar developers is challenging Duke Energy’s purchases of solar energy in a case before the North Carolina Utilities Commission. The complaint by California-based Cypress Creek Renewables focuses on an arcane topic – the term of power-purchase contracts by Duke. But its outcome could affect the way the solar industry continues to grow in the nation’s second-largest solar state.

Cypress Creek approached Duke about power purchase agreements for six large solar farms, totaling 400 megawatts, before Duke had filed its competitive-bids proposal. But Duke offered only five-year contracts instead of the longer terms usual for big projects.

This article is dated (February), but a very recent piece in the paywall-protected Charlotte Business Journal reported that Solar farm connections are down some 75% due to this new approach by Duke Energy to manipulate Solar growth in NC. Cypress Creek is a Santa Monica-based company, and has been very successful in rounding up investment dollars for NC Solar farm projects. But that measly five year contract is a killer, seriously undermining the return on investment (ROI) formula that has been so successful here. Like always, being in control is at the top of Duke Energy’s list of priorities:



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