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New Solar Plants Will Pay For Themselves, FPL Says

Feb 21, 2017

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Florida Power and Light announced Monday that it plans to build eight solar generators by early 2018. The plants will increase the company's solar capacity to nearly 1000 megawatts. 

The company estimates that the new facilities will be able to generate enough power for about 120,000 homes at peak production. Each generator will cost roughly $130 million to build. 

Florida Power and Light spokesperson Alys Daly explained how the change will affect power bills. 

"Initially, the plants are paid for by customers, once they begin serving customers, through the base rates. However, that's offset immediately by a discount in the fuel portion of their bill," she said.

Florida Power and Light CEO Eric Silagy said Monday that locations for the new solar plants will be announced in the coming weeks. He also said that his company is accelerating its solar plans as new facilities are becoming more cost effective. 

Silagy's announcements came at a commissioning ceremony for three solar plants located in Charlotte, DeSoto and Manatee Counties. Together, the plants use 1 million solar panels. 

In 2016, Florida Power and Light agreed to increase its solar production as part of a settlement agreement with the state. The settlement also allowed it to increase its base rates by $811 million over four years.