Salt River Project (SRP) stated that it plans to add 1GW in new utility-scale solar energy to its portfolio by the end of 2025.
SRP stated that the capacity addition plans will speed up both the pace and total capacity of its current solar energy resource plans by 700MW compared to current resource plans during the same timeframe.
SRP CEO and general manager Mike Hummel said: “This proposal represents a growing commitment to sustainability that is both reliable and affordable.
“It focuses on investments in utility-scale solar projects that have higher solar capture efficiencies and therefore provide optimal value for our customers.”
Hummel also stated that the cost of solar energy is continuing to decreasing, which makes it the right time to increase investments in this sector. Additionally, a recent study showed that SRP’s grid is prepared to handle the additional 1GW of solar power.
Hummel continued saying: “Over the past several months, we have had discussions with residential customers and many of our larger commercial, industrial and municipal customers regarding their needs for sustainable resources. Several customers have asked us to work with them on providing resource options that help them achieve their goals.”
“This proposal is a foundational part of providing programs that bring increased value to our customers while partnering with them to achieve mutually desired renewable energy goals.”
SRP plans to add 200MW in new solar projects every year, through 2025, which is expected to enable the company to analyze the impact of reliability on its electrical grid.
The company will consider programs to allocate the new solar capacity across various customer groups including community solar for residential customers.
By adding the additional 1GW of solar, the company expects to reduce its carbon emissions by about 5.2 million tons, which is equivalent of removing more than 1 million passengers cars from the street every year.
SRP will focus on strategic locations for the new solar capacity that will offer maximum efficiencies.
SRP President David Rousseau said: “We are continually working toward a more sustainable future as well as reducing our carbon footprint for the benefit of SRP’s customers and the communities we serve.
“This plan affirms our commitment in a manner that brings the most value to our customers while providing the greatest environmental impact.”
The 1GW solar energy will add to the company’s existing 200MW portfolio of solar that include a more than 50MW of solar on Navajo land, a 20MW solar/10MW battery storage power plant located in Pinal County, and 25MW and 10MW battery storage facilities in development in the Phoenix metropolitan area.