Los Angeles households to get 121 MW of solar power from 8minutenergy

8minutenergy has entered into a definitive agreement to sell its interest in the 121 MW-DC Springbok 3 Solar Farm to Capital Dynamics. The project has a 27-year contract to sell power to the Los Angeles Department of Water and Power. Residents of Los Angeles will be getting solar power from the desert until the year 2049 for around 5.2 cents per kilowatt-hour (kWh). When calculating for the present value, what money in 2049 is worth in today’s dollars and an interest rate of 2.5%, the effective cost of that electricity will be 2.5¢/kWh. This is not an unprecedented value, just the new reality of solar power.