NextEra Energy to add $1 bn energy storage in 2021

NextEra Energy. Renewables and energy storage.

NextEra Energy, the world’s largest producer of solar and wind power, will invest $1 bn in energy storage in 2021. Their plans for renewables are unaffected by COVID-19. They are dropping retail prices temporarily to help consumers, and say there will be no disconnects for customers who can’t pay during the state of emergency.

They own Florida Power and Light and Gulf Power in addition to having renewable energy plants across the country.

NextEra expects to build around 5 gigawatts of renewables capacity this year, and it added another 1.6 gigawatts of wind, solar and storage to its pipeline during the first quarter. None of its 2020 projects are expected to be delayed.

The company also made a stunning, if not entirely surprising, prediction: It will spend $1 billion on battery projects next year. NextEra believes it will be the first company in the world to cross that threshold for energy storage investments in a single year.

They genuinely appear to be trying to help consumers and customers. (PDF)

Over the past several weeks, NextEra Energy has continued to execute across the board throughout the COVID-19 pandemic. The company’s transmission and distribution systems continue to perform in line with their typical high reliability standards. Operations at all generating facilities at FPL, Gulf Power and NextEra Energy Resources have been modified to help protect the health and safety of employees, and the pandemic has not caused any meaningful impacts at this time. NextEra Energy understands the critical role that electricity plays in the economy and the daily lives of its customers, and its businesses remain steadfastly focused on meeting their commitments.

As part of NextEra Energy’s core commitment to do the right thing, FPL and Gulf Power have taken steps to help customers face the challenges created by the COVID-19 pandemic. Both utilities have suspended electrical disconnections during the state of emergency in Florida to ensure customers have continued access to electricity regardless of their economic circumstances. Additionally, in May, the typical FPL and Gulf Power residential customers will receive a one-time bill decrease of approximately 25% and 40%, respectively, as an accelerated flow back of lower fuel costs