PG&E asks to call it off
First off, California’s solar and wind power is extremely robust. However, PG&E has asked a bankruptcy judge for the authority to nullify billions of dollars in energy contracts. More importantly, contracts with eco friendly solar and wind farms.
What About Energy Storage?
Yet the area news group also doesn’t talk about energy storage. Especially when talking about it with renewable energy. So energy storage must be included in California’s solar and wind power discussions. For example, a proposed utility-owned project is a 182.5 MW lithium-ion battery energy storage system (BESS). It’ll be located within PG&E’s South Bay Moss Landing substation. This transmission-connected BESS will also address local capacity requirements. Furthermore it will also participate in the California Independent System Operator (CAISO) markets. Thereby providing energy and ancillary services.
Firstly, the NextEra Energy wind turbines are seen. Pictures were taken from this drone view along Flynn Road North near Altamont Pass. For that’s located in Livermore, California. Picture on Wednesday, Sept. 5, 2018. (Jane Tyska/Bay Area News Group)
PAUL ROGERS | Bay Area News Group
To begin and as reported by the Bay Area News Group, of all states California has the most far-reaching renewable energy laws. Especially in the United States.
Can you say Bankruptcy?
In conclusion however and more importantly, the bankruptcy filing was held on Tuesday. Plus, I mean who filed for Bankruptcy? None other then by the state’s biggest electric utility. For that’s Pacific Gas and Electric (PG&E). Therefore major questions are arising about whether California will be able to meet its ambitious targets. Finally and more noteworthy are the targets for solar, wind and other types of green electricity. Especially in the years ahead.
In stacks of court documents, PG&E asked the bankruptcy court to allow it to potentially cancel up to $42 billion in contracts. All that it signed over the past 15 years. Moreover to buy electricity from other companies. PG&E has also signed 387 such agreements, it said in court papers. Moreover and the majority, or 298, commit PG&E to purchasing solar, wind or other renewable energy. All to meet California’s environmental goals.
Many of those deals, which are called “power purchase agreements,” are for 15- to 20-year periods. They were signed years ago when solar, wind and other renewable electricity was more expensive than it is today. The revenue they delivered help finance construction of large solar and wind farms across the state.
But PG&E is locked in to billions of dollars of high priced-contracts now, and facing staggering debts from wildfires sparked by its power lines. It also sees declining demand for its electricity as more Californians install residential solar systems and buy power from local community non-profits. On Tuesday, PG&E has asked the bankruptcy court to rule that federal regulators should not be allowed to step in and require that its contracts be left intact.
For the entire story