⏳ Final hours! Save up to 60% OFF InvestingProCLAIM SALE

Massive Solar Plants Light Up California

Published 03/24/2015, 12:29 PM
Updated 03/24/2015, 01:01 PM
© Flickr/DreadPirateJeff. The 550-megawatt Desert Sunlight Solar Farm in California's Mojave Desert is one of a handful of the massive solar power plants that came online in 2014.

By Maria Gallucci -

© Flickr/DreadPirateJeff. The 550-megawatt Desert Sunlight Solar Farm in California's Mojave Desert is one of a handful of the massive solar power plants that came online in 2014.

Giant solar power plants are playing a greater role in California’s electricity mix, new data show. Large-scale systems made up 5 percent of the state’s power generation last year -- the highest amount any state has ever seen.

Solar plants with at least 1 megawatt in power capacity together generated a record 9.9 million megawatt-hours of electricity last year in California, a 62 percent jump over 2013 levels, according to the latest Electric Power Monthly report from the U.S. Energy Information Administration (EIA). California’s utility-scale solar production was more than triple the output of the next-highest state, Arizona, and more than all other states combined.

California Utility Solar

The surge in California’s solar output was driven by a handful of massive new plants, including the Topaz Solar Farm in San Luis Obispo County and Desert Sunlight Solar Farm in the Mojave Desert. Each has a capacity of 550 megawatts, making them among the largest solar plants of their kind in the world. With those plants and others, California added nearly 1,900 megawatts of new utility-scale solar capacity in 2014, raising the state’s overall solar sector to nearly 10,000 megawatts -- or enough to power some 2.4 million homes.

California now accounts for about half of the country’s solar power capacity. The U.S. solar sector jumped to nearly 20,000 megawatts in combined capacity last year after a banner year for installations. Plunging equipment costs, more efficient technology and better financing plans are making it easier and cheaper for Americans to go solar. As a result, the U.S. market for solar photovoltaics (PV) hit $13.4 billion last year, up from just $3 billion in 2009, according to GTM Research in Boston.

The EIA report also cited generous state renewable policies for driving the growth in sun-powered energy. In a handful of states, residents can receive rebates to help offset the cost of rooftop panels and join “net-metering” programs, which allow homeowners and businesses to sell solar power back to the utility grid. In California, the state requires utilities to get at least 33 percent of the power they sell from renewables by 2020, a policy that has pushed many electricity companies to invest in the large-scale solar farms.

California’s solar boom comes at a particularly critical time for the Golden State. The ongoing drought crisis is depleting the state’s reservoirs, and as a result, hydroelectric generation dropped 46 percent last year compared with the previous five-year average, the EIA said. “Although solar is only available at certain times of the day, the annual increase in California’s solar generation in 2014 offset 83 percent of the decrease in hydroelectric generation,” according to the report.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.