A recent bidding process conducted by Xcel Energy has shocked the industry as clean energy bids including wind and solar with battery storage came in cheaper than bids from traditional fuel sources.
Seeking to replace two of their existing coal power plants with renewable energy sources, Xcel received over 430 individual bids. Comparatively, a similar bidding process in 2013 received 55 bids. This boom in growth, coupled with the low prices of the bids, highlights how quickly renewable energy has advanced in the last 4 years. For more in-depth information about the results of Xcel's solicitation, please read this article from Vox.
Energy purchasing strategies involving renewable energy have been analyzed and implemented by Stanwich Energy when advising clients on their best option. The results from Xcel's solicitation give further credence to Stanwich's holistic approach to the energy markets. Sometimes it can pay to look at all available options instead of only the most common ones.
For more information on incorporating renewable energy into your portfolio, contact your Stanwich Energy representative.