NV Energy Lauds Increase In Nevada's Renewable Portfolio Standard

LAS VEGAS, April 22, 2019 /PRNewswire/ -- NV Energy joined Governor Steve Sisolak, Senator Chris Brooks and other supporters, as the Governor signed into law Senate Bill 358, which increases Nevada's renewable portfolio standard to 50 percent by 2030.

"NV Energy has been vocal about our aspirational goal of providing our customers with 100 percent renewable energy, and this is an important next step in accomplishing that," said Doug Cannon, NV Energy president and CEO. "We announced our support of the renewable standard increase in 2018 and are honored to have worked closely with Governor Sisolak, Senator Chris Brooks, who was instrumental in leading this effort; and other stakeholders to accomplish this so early in the legislative session." 

The company's 2018 announcement that it planned to add six more large-scale solar projects, three of which will include battery storage for the first time, reinforced its commitment to add more low-cost solar to its energy mix. NV Energy also recently submitted its annually-required renewable portfolio standard (RPS) compliance filing to the Public Utilities Commission of Nevada, which stated that the company had exceeded the current RPS requirement for the ninth-straight year. Instead of the 20 percent required today, 24 percent of the energy the company provides is generated from renewable resources.

Nevada is a leader in renewable energy, ranking fourth in solar and second in geothermal. NV Energy has fostered renewable development since before a renewable standard was put into place, having signed its first geothermal contract in 1986. Thanks to expanding renewable energy serving our customers and the retirement of coal-fueled generation in Nevada, our state experienced an 85 percent reduction in coal-fueled carbon emissions from 2005 to 2015. During that same period, Nevada reduced carbon emissions from the electric industry by 44 percent.

"Our company has made great strides over the last decade to increase our use of clean energy resources and reduce our carbon footprint, all while keeping costs low for our customers. Today signifies another step in building Nevada's a clean energy economy and we're proud to be one of the leaders in that effort," added Cannon.

NV Energy provides a wide range of energy services to more than 1.4 million customers throughout Nevada and more than 50 million tourists annually. NV Energy, Inc. is a holding company whose principal subsidiaries, Nevada Power Company and Sierra Pacific Power Company, do business as NV Energy. NV Energy is headquartered in Las Vegas, Nevada. Information about NV Energy is available on the company's website, Twitter, Facebook and YouTube pages, which can be accessed via nvenergy.com.

SOURCE NV Energy