Florida Power & Light (FPL), which is owned by NextEra Energy, announced that it is ahead of schedule on it “30-by-30” initiative. Officially launched in early 2019, FPL made the goal to install 30 million solar panels in Florida by 2030. Now, it expects to do it by 2025.
“I am pleased to announce that we now expect to reach this milestone by 2025, five years earlier than previously anticipated,” said Jim Robo, chair and CEO of NextEra Energy on the company’s Q4 2021 conference call. “Including the solar additions anticipated through 2025, this ambitious 30-by-30 initiative is expected to have generated approximately US$2.5 billion in fuel cost savings for customers and created more than 20,000 construction jobs while supporting the Florida economy with more than US$700 million in property taxes over the life of the assets. During 2021, FPL successfully executed on its strategic initiatives, including placing another 671 MW of cost-effective solar and service, completing the first roughly 1500-MW phase of our SolarTogether community solar program. Additionally, last month, we commissioned the world’s largest integrated solar-powered battery system, the 409-MW Manatee Energy Storage Center, which will allow our customers to benefit from low-cost solar energy even during times when the sun is not shining.”
Soaking In The Sun
FPL’s solar efforts are helped by a surge in the company’s signed contracts and renewable energy backlog. NextEra Energy spent US$16 billion on American energy infrastructure in 2021. Over the last two years, NextEra Energy Resources (NEER) constructed 9500 MW of renewable and storage projects and commissioned 3800 MW in 2021. NextEra Energy added 7200 MW to its renewable and storage backlog in 2021. Its total backlog now sits at 16,600 MW. According to the company, its backlog alone is now roughly the size of its 2017 renewable energy portfolio and is 25% larger than its backlog was in 2020.