Tuan Pham: Few realize it, but CPS Energy’s current solar subsidies will ultimately cost the utility over $1 billion.
Advanced Solar workers install solar power panels as part of a program that is partly subsidized by CPS Energy.I am big into solar energy. My company works with utilities across the country to develop large innovative solar projects. Personally and professionally, I am an environmentalist.
Two facts inform this perspective. First, we can achieve climate action goals without subsidies because solar equipment costs have. Second and more importantly, solar subsidies are deteriorating the financial stability of CPS Energy. Few realize it, but CPS Energy’s current solar subsidies will ultimately cost the utility over $1 billion. Still worse, its customers will bear the brunt.
Specifically, CPS Energy needs to stop subsidizing customers who purchase solar panels. Since 2007, CPS Energy has paid more than $159 million in upfront cash rebates to homeowners and businesses to purchase solar panels. That’s an average of $6,100 paid by your public utility to approximately 26,000 private solar owners . A residential solar installation typically ranges in price from $20,000 to over $30,000, so solar owners tend to be more affluent.
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