The Carvajal Group Blog

Good Day Sunshine

December 16th, 2010

California might have the largest Solar Energy Generating Systems in the US, but as of this week, they’re not the only ones staring at the sun.

RRE Solar Austin has begun building what will soon be the largest solar farm in Texas. This new facility will rival some of the largest solar power plants in the country.Texas is currently developing and building numerous clean energy initiatives, but the 60-magawatt project is the largest to date.

Generating enough electricity to power over 4500 homes, RRE is looking to procure federal incentive grants and an agreement with large utility companies while the construction continues. It will take time to build the plant, and have developed a strategy that will allow them to build in stages. This will allow RRE some flexibility while negotiating new deals.

Daven Mehta, chief executive of RRE, is prepared to build in stages or all at once, based on the needs of utilities and potential customers.

Solar power is more expensive than other means of generating electricity, but its environmental impact is dramatically less than oil and gas alternatives.

Texas’s main source of alternative energy has been wind power, which has numerous federal and state tax incentives. It’s Mehta’s hope that the Texas Legislature will adopt solar incentives soon, but is confident of it’s profitability regardless of state initiatives.

Austin will benefit greatly from the addition of this solar plant, which will provide additional power during peak hours when the sun is shining and air conditioners are running.

How this impacts the Real Estate Market:

The project will create around 350 construction jobs and 20 permanent jobs, adding just a bit more sunshine to Austin’s real estate market.

Tags: Austin businesses · Austin Job Market · Uncategorized