Although the adoption of solar power has skyrocketed in other states, Florida electric customers are only now beginning to realize solar’s economic and environmental benefits. To be sure, natural gas prices are currently low by any measure, and that translates to low electricity prices for the time being because gas-fired electricity plants account for so much of the state’s power mix. Even so, whether one considers the cost of solar by the cost of the fuel (sunlight is free), the cost of a solar farm averaged out over its useful life, or the cost of one unit of electricity that a solar farm produces, the cost metrics are on target to fall below fossil fuels and win the price war.
It is not surprising, therefore, to see Florida’s utilities beginning to take measured steps toward adopting solar power into their portfolios of electricity-generating assets. The most substantial investments have come from Florida Power & Light Company with three large solar farms that are currently under construction in southwest Florida. Even so, solar still accounts for less than one tenth of one percent of FPL’s generation portfolio, and this number is likely to increase with the widespread adoption of electric vehicles, coupled with global and federal pressures to reduce carbon emissions.