posted Feb 1, 2013, 1:44 AM by Solar Life
updated Feb 1, 2013, 1:56 AM
First Solar May Sell Cheapest Solar Power, Less Than Coal
First Solar bought the 50-megawatt Macho Springs project from Element Power Solar, according to a statement yesterday. El Paso Electric Co. (EE) agreed to buy the power for 5.79 cents a kilowatt-hour, according to a Jan. 22 procedural order from the New Mexico Public Regulation Commission.
That’s less than half the 12.8 cents per kilowatt-hour average price for new coal plants, according to data compiled by Bloomberg. Thin-film photovoltaic power typically sells for 16.3 cents a kilowatt-hour, according to Bloomberg New Energy Finance.