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Browsing the "california renewable auction mechanism" Tag

Solar, Renewable Grid Parity, or Better, in California’s Latest Renewable Power Auction

April 6th, 2012 | by Andrew

Yes, that's right: grid parity is here, well in California at least...and a lot faster than most ever thought possible. The weighted average highest cost of solar and other renewable power contracts accepted by California utilities in the state's Renewable Auction Market (RAM) auction amounted to 8.9 cents per kilowatt-hour (kWh) for 20-year power purchase contracts, the Vote Solar Initiative reported March 30. Though this doesn't include transmission costs, $0.089/kWh is well below the average residential electricity cost of 15 cents per kWh in California in 2011, and that's the weighted average highest cost of the accepted offers to the state's electricity distributors

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