Austin Energy recommends City Council to think Before Buying More Solar next year

Austin Energy's proposal has beat out around 30 other solar power proposals. It is said that Austin Energy is going to sign, which can be considered as the world's cheapest solar-power deal. However then also the utility has advised City Council to take a 'measured' approach when it comes to buying more solar in the next few years.

Khalil Shalabi, the utility's vice president of energy market operations and resource planning, was of the view with regard to solar energy, "This is new to a lot of us, that the technology is actually declining at such a rate. I think we're all very happy about that, especially since our goals are so aggressive for solar".

Shalabi indicated about the response that the utility has received about the latest request for proposal for up to 600 megawatts of solar contracts. Shalabi termed it to be great news, who said that they have bid under $40.

But talking about the negative part, the firm has been seeing prices 20% lower after their last contract. This led Shalabi affirm that it could be a risk of being an early mover in the technology. Shalabi said that they will wait on the remaining 400 megawatts, as it opens for Austin Energy to develop its own solar projects rather than contracting with developers. He said that right now they will not consider the option to buy 600 megawatts as affordable.