NV Energy received approval today to fund three times more green energy projects in Nevada.
There was so much demand for a renewable energy program, that NV Energy was overwhelmed with applicants, and with Wednesday's approval most of them will have a second shot at that money.
The firm worked out the deal through a loophole. Even though NV Energy operates under one name, it is still technically two utilities, Sierra Pacific and NV Energy. Principals at the firm say that is because the two have two separate power grids and they are not connected by power lines. So each is a utility according to the law, and thus the $78 million cap applies to both, for a total of $156 million.
That means renewable energy contractors will have a second shot at funding. Now projects for the city of Sparks, the Nevada Humane Society, the city of Las Vegas, along with more than 100 other public and non-profit entities that were previously denied can reapply with NV Energy to get money for their green projects.
NV Energy has the final say on which firm receives this money. Officials at the power company say that if all the projects are actually completed, each customer would have to pay about a dollar more on their bill. But they say that's unlikely.
