COLUMBIA, S.C. — A South Carolina electric cooperative is one of 6 across the country that is selected to get up to $500 million to purchase roughly 700 megawatts of nuclear and solar energy projects.
Central Electric Power Cooperative serves 19 co-op members across the state, including Tri-County and Mid-Carolina Electric.
Through the New Empowering Rural America program, Central is eligible for funding to cover 25% of project costs. The program is meant to help rural communities transition to clean energy and cut costs. They’ll use part of it to purchase power from solar farms that haven’t been built yet—which will help finance those farms to pay for construction costs, says CEO Rob Hochsteler.
"What they're looking for is competitively priced energy delivered in a safe and reliable, reliable manner, anything we can do to decrease our carbon footprint, but yet keep costs competitive, is a win, win scenario. So we are these projects do exactly that," said Hochsteler.
They'll also be purchasing power from an existing nuclear plant in Catawba, and buying batteries to store solar energy.
It comes at a time when lawmakers are discussing how to generate more power and increase energy efficiency to fight the state's growing energy crisis. A special committee of Senators is expected to continue to meet through the end of the year to discuss energy policy to meet those needs, including potential nuclear projects, and help alleviate the rising costs of energy in the state.
“We serve some of the poorest communities in the state, and what we can do to put downward pressure on rates in a in a time of rising prices for energy, is very helpful," Hochsteler said.
Central Electric will have to work with the Department of Agriculture on exactly how much of that $500 million that is available will go to which projects. They’re the only co-op in South Carolina that was selected for this round of funding.
