Hawaiian Electric Co. hopes to install 240 megawatts of utility-scale solar projects on Oahu by the end of 2015.
The average price of the solar energy, which encompasses nine projects, is 15.8 cents per kilowatt hour.
“This is about one-third less than prices paid to existing solar and wind energy projects on O‘ahu and the current cost of generating electricity from oil,” according to a HECO press release.
HECO announced six new solar projects on Tuesday. Earlier this year, the utility announced that it was pursuing five other energy projects, but three of the developers asked that their projects be withdrawn. HECO is asking the Public Utilities Commission from an exemption from the competitive bidding process for the remaining nine solar projects.