Bloomberg News

U.S. Utilities Can Expand Solar Power Cheaply, Duke CEO Says

October 19, 2011

Oct. 19 (Bloomberg) -- U.S. utilities can expand solar power cheaper than independent developers because they have lower borrowing costs, Duke Energy Corp. Chief Executive James Rogers said today at a conference in Dallas.

“We’re the most capital-intensive industry in the world and we have access to low-cost capital,” Rogers said at the Solar Power International conference. “Utilities are in a unique position to deploy solar on a big scale.”

Putting a price on carbon dioxide will help make solar power more competitive with fossil fuel power plants, he said.

“We clearly will have carbon legislation in the near future,” Rogers said during a panel discussion of utility executives. “The real price of electricity is going to go up.”

--Editors: Will Wade, Tina Davis

To contact the reporter on this story: Christopher Martin in Dallas at cmartin11@bloomberg.net.

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net.


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