CLAIM #45283 · Nextera Energy Inc (NEE) · 2023Q3 earnings call · Oct 24, 2023 · due Oct 24, 2033
“It has plans to add approximately 20 gigawatts of solar over the next 10 years for the benefit of its customers while undergrounding its distribution system to lower operating costs and withstand the impacts of hurricanes to help keep the Florida economy, which is now the 16th largest in the world, running on all cylinders.”
John Ketchum · CEO
How to check this claim
Look at: Cumulative solar capacity additions (MW/GW) installed by FPL since this statement
It came true if: Cumulative solar capacity added >= 18 GW (approximately 20 GW target) within the 10-year window
Where: FPL/NextEra Energy investor presentations, 10-K disclosures, or earnings call commentary on solar capacity in service
In context
“rectors. FPL remains among the best utilities in the United States, achieving top operational performance across key metrics while maintaining the industry's lowest cost structure, one of the cleanest emissions profiles, and a customer bill that is roughly 30% lower than the national average. It is located in one of the fastest growing states with what we believe is one of the country's most constructive regulatory environments. FPL has by far the lowest non-fuel O&M of any large utility in the nation. Over the last 20 years, our relentless focus on cost, efficiency and low bills have saved customers nearly $15 billion in fuel cost alone. Year after year, FPL receives top accolades for reliability, despite operating on a peninsula and historically facing a high probability for hurricanes. It has plans to add approximately 20 gigawatts of solar over the next 10 years for the benefit of its customers while undergrounding its distribution system to lower operating costs and withstand the impacts of hurricanes to help keep the Florida economy, which is now the 16th largest in the world, running on all cylinders. We believe FPL is the highest quality regulated utility in the country. At Energy Resources, we are just getting started. Renewable penetration as part of the US generating mix currently stands at roughly 16% and is expected to double, reaching over 30% by 2030. As the world's leader in renewable energy with an approximately 20% market share in US renewables origination, Energy Resources stands to benefit significantly from the unstoppable shift towards electrification. Experience and scale matter, and with over 20 years of renewables experience, a 31 gigawatt operating portfolio, a development pipeline of roughly 300 gigawatts of renewables and storage projects, and roughly 150 gigawatts of interconnection queue positions we are well positioned for future growth. In addition to our scale”
Verify independently
SEC filings for NEE ↗ · Claim quote is verbatim from the 2023Q3 earnings call.