Investing in Solar Power saves Fuel Costs and Water
In keeping with Tampa Electric’s strong history of environmental stewardship, the company is launching another significant expansion of solar power.
By the end of 2025, Tampa Electric will add another 375 MW of solar power at six sites. At that time, Tampa Electric will have more than 1,600 MW of solar power – enough to power nearly 260,000 homes, and the highest percentage of solar power of any electric company in the state.
“During this time when volatile natural gas prices are affecting electricity bills, investments in solar power help all customers to save fuel costs,” said Archie Collins, president and chief executive officer of Tampa Electric. “We are committed to expanding solar power at a pace that makes sense for customers.”
Tampa Electric’s investment in solar energy helps to:
- Save fuel costs for customers and helps to reduce the impact of volatile natural gas prices. In 2022 alone, solar power is expected to save about $90 million in fuel costs.
- Conserve water. By repurposing former agricultural land for solar investments, Tampa Electric has saved more than 4.3 billion gallons of water in an area of the state with critical concerns about water use.
- Reduce greenhouse gas emissions. Tampa Electric is committed to a cleaner-energy future.
Over the life of these plants, this solar expansion would be cheaper for customers than keeping the power plant fleet as it is today. Check out the total savings from solar on our new webpage. When this expansion is complete, the solar fleet will reduce carbon dioxide emissions by more than 2.35 million tons every year, which is roughly equal to removing 500,000 cars from the road.
By the end of 2025, Tampa Electric will have about 17 percent of its energy fueled by the sun. Natural gas will produce 82 percent of the electricity, with coal fueling only 1 percent. In the past two decades, Tampa Electric has reduced its use of coal by more than 90 percent and has cut its carbon footprint in half. By 2031, solar is expected to produce 20 percent of Tampa Electric’s power.
Tampa Electric, one of Florida’s largest investor-owned electric utilities, serves more than 800,000 customers in West Central Florida. Tampa Electric is a subsidiary of Emera Inc., a geographically diverse energy and services company headquartered in Halifax, Nova Scotia, Canada.