New Energy Hits Inflection Point
These 2 Stunning Numbers Show That Renewable Energy Is Really Starting to Heat Up; NextEra Energy’s renewable energy development backlog shows how quickly adoption is accelerating.
Matthew DiLallo, October 26, 2019 (The Motley Fool)
“…[In its Q3 report, NextEra Energy (NYSE:NEE), the world’s leading independent power producer (IPP) of New Energy] detailed two noteworthy numbers that together represent an inflection point for New Energy and show just how far the industry has come in recent years…[First, the] cost of adding battery storage, however, has come down tremendously…[In Q3, NextEra] added 747 MW of solar and 341 MW of battery storage, all of which will be paired with new solar projects. Year to date, more than 50% of the solar megawatts that have been added to backlog include a battery storage component…
[NextEra] now has 561 MW of storage capacity lined up to come online in the 2021-to-2022 timeframe…[and customer demand could increase to] as much as 1,250 MW of energy storage capacity…[Second, NextEra has added nearly 4,200 MW in New Energy in 2019 to bring its total New Energy portfolio to] more than 12,300 MW…The renewable-energy sector has hit an inflection point. That's evident in the speed at which NextEra is developing new projects, as well as the increased inclusion of a battery storage component. Investors can't afford to ignore this sector any longer.” click here for more