New solar plant can power 13,000 homes round the clock for a year

With growing progress of solar energy, it seems like solar energy will soon replace the traditional forms of energy. A new development has been recently made, in which a solar power plant has been set up that can provide electricity to 13,000 homes day and night for a year.

The solar power plant from Spain known as ‘Cox Energía’ will be able to supply 140 gigawatt-hours of electricity to Chile’s grid. The grid will be powered not only during daylight, but also at night without sunlight and even in stormy weather conditions, wrote Greentech Media.

The power plant can power around 13,000 homes for a complete year along with storage capabilities in order to continue to providing power to the entire country. The project won a bid of $34.40 per megawatt-hour that gave them the rights to supply that much electricity to the Chilean grid just through photovoltaic panels. The bid will also help them secure the storage abilities.

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This advancement marks Chile on the list of top ten renewable energy markets in the world. The installation for this plant will give support for the country and the regions along with dropping prices in the renewable solar powers and encouraging more adoptions of it. The project, along with the Italian project Enel set up at Chile, will come online by 2024, which will make the residential electricity costs go down by 50%.

According to Quartz, this development is another indication of large-scale energy storage. This year much advancement has been made in providing renewable energy. Tesla, AES Corporation, Altagas are one of the few names of organizations working to install more and more renewable energy plants across the world.