Buffett Scores Cheapest Electricity Rate with Nevada Solar Farms

Warren Buffett’s Nevada utility has lined up what may be the cheapest electricity in the U.S., and it’s from a solar farm.

Berkshire Hathaway Inc.’s NV Energy agreed to pay 3.87 cents a kilowatt-hour for power from a 100-megawatt project that First Solar Inc. is developing, according to a filing with regulators.

That’s a bargain.  Last year the utility was paying 13.77 cents a kilowatt-hour for renewable energy.  The rapid decline is a sign that solar energy is becoming a mainstream technology with fewer perceived risks.  It’s also related to the 70 percent plunge in the price of panels since 2010, and the fact that the project will be built in Nevada, the third-sunniest state.

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