US TVA Plans To Install A Total Of 10GW Of Photovoltaic Systems By 2035
May 16, 2022
The Tennessee Valley Authority (TVA), a Tennessee-based utility, has released its fiscal 2021 sustainability report, detailing the company's progress in meeting its climate goals and carbon-free power generation goals over the next decade. The company primarily provides electric service to 10 million people in the southeastern United States.
TVA aims to install 10GW of photovoltaic systems by 2035, which will power more than 200,000 electric vehicles by 2028, said Jeff Lyash, president and CEO of the company. TVA's installed and operated PV system capacity increased by 77% in fiscal 2021, and TVA is installing its first utility-scale PV system and battery storage project, which is expected to come online in 2024-2025. The company expects to install around 2.8GW of PV systems cumulatively by 2024.
Since 2018, the company said it has committed nearly $3 billion to PV systems through its Green Investment Program. An important driver of the program's growth has been through power purchase agreements with major companies such as Google and Facebook.
TVA is also running a photovoltaic project called Green Switch, which provides customers with 100% renewable energy. Contracts can be contracted for as little as $2 a month, the company said, and customers can use some or all of their electricity from photovoltaic systems, wind facilities and biomass generation resources. In fiscal 2021, the proportion of photovoltaic power generation, wind power generation and biomass power generation is 70%, 20% and 10% respectively.
