Why CPS Energy needs to stop subsidizing solar

Advanced Solar workers install solar power panels as part of a program that is partly subsidized by CPS Energy.I am big into solar energy. My company works with utilities across the country to develop large innovative solar projects. Personally and professionally, I am an environmentalist.

Two facts inform this perspective. First, we can achieve climate action goals without subsidies because solar equipment costs have. Second and more importantly, solar subsidies are deteriorating the financial stability of CPS Energy. Few realize it, but CPS Energy’s current solar subsidies will ultimately cost the utility over $1 billion. Still worse, its customers will bear the brunt.

Specifically, CPS Energy needs to stop subsidizing customers who purchase solar panels. Since 2007, CPS Energy has paid more than $159 million in upfront cash rebates to homeowners and businesses to purchase solar panels. That’s an average of $6,100 paid by your public utility to approximately 26,000 private solar owners . A residential solar installation typically ranges in price from $20,000 to over $30,000, so solar owners tend to be more affluent.

The solar panels are a potential fire hazard if not installed correctly.

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

For sale: CPS Energy puts La Villita's circular building back on the marketCPS Energy's Villita Assembly Building, formerly used as an event space, was designed by noted architect O’Neil Ford and completed in 1958.
Source: SAReport - 🏆 252. / 63 Read more »

With fossil fuel plant closures looming, CPS Energy weighs future generationWith its financial future stabilized, CPS Energy officials have shifted their focus to the future of the utility's generation portfolio.
Source: SAReport - 🏆 252. / 63 Read more »

Ohio energy aggregator Volunteer Energy files for bankruptcy protection; what happens to customers?Over 200,000 households in Ohio will have a new energy provider after a large aggregator filed for bankruptcy protection, according to the PUCO. But residents won’t lose service.
Source: clevelanddotcom - 🏆 301. / 63 Read more »

EXPLAINER: Why is Europe balking at a ban on Russian energy?Shocking pictures from the Ukrainian town of Bucha and accusations of Russian war crimes are building pressure for more sanctions against Moscow.
Source: ksatnews - 🏆 442. / 53 Read more »

Mercedes-Benz to boost energy independence with solar, wind investmentsBERLIN — Mercedes-Benz is working to increase its energy independence this decade, making a three-digit million euro figure investment in solar energy and a
Source: therealautoblog - 🏆 528. / 51 Read more »

Wind Energy Needs Dramatic Increase to Hit Net-Zero Goals, New Report SaysThe offshore wind segment installed 21.1 GW in 2021, its best ever year. It’s almost as if we should’ve gotten serious about emissions decades ago
Source: NBCDFW - 🏆 288. / 63 Read more »