Extreme heat and flooding, along with water scarcity and more severe hurricanes related to climate change, present long-term risks to utility assets, the credit rating agency found.
The facility will deliver 400 MW of solar and 1,200 MWh of energy storage to the Los Angeles Department of Water and Power at a fixed solar cost under $0.02 per kilowatt-hour.
The proposed legislation would also temporarily suspend the state's renewable portfolio standard so utilities could focus investments on infrastructure and vegetation management.
The storage industry will face its fair share of challenges, including increasing safety regulations, regulatory barriers and market uncertainty, experts say.
Utility Dive provides in-depth journalism and insight into the most impactful news and trends shaping the utility industry. The newsletters and website cover topics such as smart grid, regulation and policy, demand response, generation, and more.
Utility Dive is a leading publication operated by Industry Dive. Our business journalists spark ideas and shape agendas for 7+ million decision makers in competitive industries.
