UPDATED: Visit ourhttp://www.energyandcapital.com/resources/solar-energy-investments resource page for updated information on investing in the solar sector.
Advancements in solar energy seem to be popping up daily, and it’s leading towards a very intriguing investment future. We have spoken before about the solar race that has been going on… and recent approvals have only supported the future of clean energy.
Just recently, U.S. regulators approved construction of The Blythe Solar Power Project, which would sit on more than 7,000 acres in California. This massive solar power plant could be the largest of its kind in the world.
Chevron Energy Solutions and an American unit of the German firm Solar Millennium, decided to join hands in creating this solar beast. When ready, the plant will be capable of producing 1,000 megawatts.
The California Energy Commission (CEC) cleared the Blythe Solar Power Project roughly a year from when the proposal was sent. The expeditious approval points to commissioners trying to take advantage of a federal stimulus package that expires in December…
So keep an eye out for more solar power approvals before then.
In addition to the Blythe Solar Power Project… NRG Energy Inc. plans to invest $300 million in BrightSource Energy Inc.’s 392 megawatt solar thermal power station. The plant will be the largest solar thermal power project in the world.
Construction of this plant has already begun in Ivanpah, California, and plans to conclude in 2012.
NRG’s solar unit will be the lead investor in the plant, but other companies such as PG&E and Southern California Edison have purchased megawatts.
With solar news of this degree, it can only hint to the seriousness of the solar energy market. Approvals and investments have been consistently streaming the news lines, and more are on the way. With plans for the CEC to hurry approvals before December and long term projects being proposed regularly, solar energy is a good bet for both short and long term investments.