Dive Brief:
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The nation’s largest electricity company said Monday it will build three solar power facilities in North Carolina.
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The construction is part of a $500 million plan by Duke Energy to meet North Carolina's requirement for 6% of its retail sales of electricity come from renewable energy by 2015. The utility also will buy solar power from five other facilities built by investors.
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Between the new facilities and the power Duke Energy already buys from 600 producers, the utility will produce 748 megawatts of solar energy by the time construction finishes next year.
Dive Insight:
Ivan Urlaub, executive director of the North Carolina Sustainable Energy Association, told the Associated Press the cost of producing solar energy has “fallen faster than everyone expected,” which could lead to additional requirements for utilities to distribute more of it. The Solar Energy Industries Association says solar power accounted for half of all new electric generating capacity so far this year.