TVA Will Pay 14 cents per kilowatt-hour in 2014
Patty West, director of TVA’s renewable energy programs, said the utility is responding to the market.
“Demand for our renewables programs is strong,” she said. said “We are working with our local power companies to direct capacity to the most cost-effective programs and streamlining the processes for these programs to make it easier for participants.”
Due to the discontent of installers resulting from the October offering in which the entire amount was subscribed in less than one minute, TVA will change its selection process using a random selection of applications. Projects will be have an equal chance of being chosen. TVA will begin accepting projects from its distributors on January 15th and will close the window on February 1st. All the projects will have an equal opportunity of being selected.
TVA announced today that it will buy up to 126 megawatts of renewable power through its three renewable energy programs. TVA is removing some restrictions on the type of renewable power it buys under its Renewable Standard Offer and is trying to streamline the approval process for new solar and wind projects.
TVA estimates it has about 6,400 megawatts of renewable energy capacity. Beyond its solar contracts, TVA has 4,600 megawatts of generation capacity from its own 29 hydroelectric dams, 1,500 megawatts of wind from its own Buffalo Mountain wind farm and contracts with wind power producers in the Midwest, and 60 megawatts of power under contract from biomass generation from landfill methane.