MOAPA, Nev. (KTNV) — Ahead of the summer season, NV Energy is launching the largest power storage system of its kind in the state. The utility says this facility will help save customers money by saving excess solar power for later use.
“Here we are today, no coal plant to be seen, no smoke stacks up in the air, and instead, behind us is a battery," NV Energy CEO Doug Cannon said at a press conference and ribbon cutting on Thursday.
The Reid Gardner Battery Energy Storage project, the new battery facility, used to be the Reid Gardner Generating Station: a coal-fired power plant. Today, it's a 220-megawatt power storage facility that will be used primarily for excess solar.
"We have been working with various stakeholders to be very aggressive in trying to add resources like the one we're here celebrating today to make sure we have sufficient energy to take care of Nevada," Cannon told Channel 13.
During the hot summer months, Nevadans use a lot of power. Much of that power is generated from solar grids, but that power source isn't always reliable.
"The hours that we really get concerned about are from about 5 p.m. to 9 p.m. Because what happens, at that point, is the solar energy has really started to ramp off as the sun's going down. And so, we have often had to go out to the market, the energy market, and buy energy to meet the needs between 5 p.m. and 9 p.m. Over the last couple of years, on average, we've paid $250 a unit of energy during those hours. We look at a project like this and this can deliver energy for closer to $100 an hour a unit of energy," Cannon said.
The overall cost of the project was $250 million with 40% covered by the Inflation Reduction Act. According to Cannon, customers will only see about $150 million of that cost.
"When you look at $150 million, and you spread it out over the life of this project, and you look at how we're replacing market purchases, a project like this, an investment like this will actually lower customers bills," Cannon continued. "Throughout 2024, our customers are going to see their bills be between 15 and 20% lower by the end of the year.”
