Investment firm sets sights on solar energy in Utah
The Energy Capital Group, an investment firm focused on renewable energy and environmental projects, has been working to negotiate a power purchase agreement for a new solar energy system that is planned to take root in Utah. The solar energy system is expected to be the largest of its kind in the state and will boast of a total capacity of 300 megawatts. The system could be a major boon for the state’s clean energy goals and the success of the project could help make Utah more attractive to solar developers throughout the state.
Project expected to be the largest of its kind in the state
The project is set to be constructed on 1,700 acres of land. When construction begins, the project will create 200 new jobs, which is expected to help boost the local economy. The solar energy system will produce enough electricity to power approximately 80,000 average homes in the state, but some of this electrical power may be sent to California in order to bolster the cross-state energy grid. The system is expected to be running at full capacity within the next three years.
Utah is becoming a prominent solar market
Utah is considered one of the most attractive solar energy markets in the country currently. The state is exposed to significant amounts of solar radiation on a daily basis. Abundant sunlight is not its only alluring quality, however, as the state is also home to vast expanses on open land. This unused land could be ideal for solar energy projects, which can benefit from a variety of support initiatives from both the state and federal governments.
State focuses on variety of clean energy sources
Solar energy is not the only form of clean power that Utah is becoming known for. The state currently boasts of 48 megawatts worth of geothermal energy production. Wind energy is also beginning to establish a strong foothold within the state. Utah has been focusing on various forms of clean power in order to cut down on emissions and potentially become a major energy exporter for California.