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Palo Alto Seals the Deal on Major Solar Electric Investments
Date:6/18/2013

eutral power is coming from renewable resources and the rest is wholesale market power that is “neutralized” by the purchase of renewable energy certificates (RECs) to offset emissions associated with it. (Get the full scoop on this part of the story here)

The delivery of the power from the new solar facilities is scheduled to start by January 2017 and the contracts last for 30 years. The price paid (~$69/MWh) for each megawatt hour [MWh] of this new solar capacity was lower than any previously-approved renewable energy projects over the last eight years. Palo Alto will make no upfront payments under any of these contracts – energy will be paid for only after it is delivered.

Palo Alto owns all its own utilities, including the electric utility which was founded back in 1900 and serves all City residents and businesses. The founding fathers had a vision that local control would result in big benefits for the community, both economically and in terms of visionary policy. How right they were!

The City currently has many contracts for renewable resources in its electric portfolio from wind farms, solar arrays and renewable gas captured from landfills. In addition to these renewable resources, about 50% of the City’s electric supply portfolio comes from non-carbon emitting hydro-electric generation. The economic impact of being 100 percent “carbon neutral” is estimated to be under $3/year on the average Palo Alto resident’s electric bill.

Palo Alto’s commitment to renewable solar energy extends to a wide variety of programs and services---check them all out here.

Read the full story at http://www.prweb.com/releases/20
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