Dive Brief:
- Switch, a tech company headquartered in Las Vegas, announced today a solar project it boasts will be the "single largest solar project portfolio in the United States." Customers will pay less than $0.05/kWh, according to the company.
- The project will be owned and developed by Capital Dynamics, with Switch and several of its partners as anchor tenants. The companies said multiple private and public sector access customers, both in and outside Nevada, are considering joining the project.
- Switch was among several companies who paid millions in exit fees to leave NV Energy's service and purchase energy on the open market. The company is trying to supply its data centers with all renewable energy.
Dive Insight:
Details are scant, but Switch says the project will be the largest "portfolio project" in the United States, built in both the northern and southern portions of Nevada. Customers will pay $0.049/kWh, an average all-in rate the company says includes NV Energy's distribution charges.
The project will be capable of powering almost 1 million homes, and will be built with American-made solar panels and local labor. Gigawatt 1 is is expected to create 1,250 construction jobs.
In 2015, Switch and several casino properties negotiated with NV Energy to exit the utility's service and find supply elsewhere. Switch's defection highlights a growing trend among corporations to invest more in clean energy. Switch also wanted to shop for cheaper energy on the market; and according to Switch, the energy will be "nearly half the cost" of NV Energy's green power offerings.
Gigawatt 1 is the first project developed out of Switch founder Roy's solar strategy, Gigawatt Nevada. The announcement also follows a decision by the Trump administration to impose tariffs on imported solar equipment. Analysts say that decision could curb the appetite for utility-scale solar projects.
