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Tag: energy

Buffett Scores Cheapest Electricity Rate With Nevada Solar Farms

Warren Buffett’s Nevada utility has lined up what may be the cheapest electricity in the U.S., and it’s from a solar farm.

Berkshire Hathaway Inc.’s NV Energy agreed to pay 3.87 cents a kilowatt-hour for power from a 100-megawatt project that First Solar Inc. is developing, according to a filing with regulators.

That’s a bargain. Last year the utility was paying 13.77 cents a kilowatt-hour for renewable energy. The rapid decline is a sign that solar energy is becoming a mainstream technology with fewer perceived risks.

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“Today, our renewable energy portfolio is more than three times as large as our coal extraction portfolio,” Plepler continued. “The transition from high-carbon energy to low-carbon energy will continue the bank believes “climate change poses a significant risk to our business, our clients, and the communities in which we operate.”As one of the world’s largest financial institutions, the bank has a responsibility to help mitigate climate change by leveraging our scale and resources to accelerate the transition from a high-carbon to a low-carbon society, and from high-carbon to low-carbon sources of energy,” the policy states.

Bank Of America Backs Away From Funding Coal Projects

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