The Hawaiian Electric Company has presented a plan to create a huge array of solar photovoltaic panels on Oahu by partnering with several renewable energy developers. According to HECO, the plan calls for panels to cover 1,200 acres of land. These panels would produce approximately 240 megawatts of electricity, which will provide enough power for approximately 60,000 household. Officials at the Hawaiian Electric Company have not stated where the panels would be located or who the renewable energy developers would be, stating that they wanted the developers to have the time to do community outreach before the details of the project becomes known. The plan notes that the Hawaiian Electric Company would purchase the power generated at an average cost of 15.8 cents per kilo-watt hour. Currently, it costs HECO approximately 23 cents per kilowatt-hour to create electricity from burning fuel oil.
Source: Honolulu Star Advertiser, 1-26-2014, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
