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DTE Energy Starts Panel Installation at Lapeer Solar Parks
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DTE Energy (DTE - Free Report) , a leading provider of solar energy in Michigan, has started installing solar panels at two projects in Lapeer. The solar power generated from these projects will be capable of powering more than 9,000 homes.
The projects will generate approximately 150 temporary jobs during the construction phase, which involves the installation of about 200,000 panels. Completion is due by the end of 2016 and, once operational, five or more permanent workers will be employed.
The larger of the two solar projects is located on about 150 acres off Demille Road and is one of the largest utility-owned solar arrays east of the Mississippi River. The project is more than 15 times larger than any other solar installation in Michigan, the company said. DTE Energy's second project in Lapeer is located off Turrill Road on 100 acres of land.
The company also has three other solar ventures in Ypsilanti, Detroit and at the GM Warren Transmission plant. It has plans to have 31 solar parks in operation by the year’s end that will be capable of powering more than 14,000 homes.
DTE Energy’s focus on improving its cost structure and making capital investments in renewable generation, utility infrastructure, environmental compliance assets and reliability of its electric utility systems is appreciable.
It has plans to invest billions of dollars in capital projects through 2020 to drive growth. Improving economic fundamentals in Michigan are an added stimulus for the company. The addition of the five solar projects will help DTE Energy to meet a state mandate that requires electric utilities to supply 10% of their electricity from renewable energy sources.
Since 2008, the company has already invested more than $2 billion in renewable energy in Michigan. Of this, about $67 million has been exhausted to develop solar arrays. Notably, the company’s total renewable energy portfolio provides enough clean energy to power more than 400,000 homes.
Zacks Rank
DTE Energy currently has a Zacks Rank #4 (Sell). Some better-ranked stocks in the same space include Spark Energy, Inc. , Avista Corp. (AVA - Free Report) and CenterPoint Energy, Inc. (CNP - Free Report) . While Spark Energy sports a Zacks Rank #1 (Strong Buy), Avista and CenterPoint carry a Zacks Rank #2 (Buy).
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DTE Energy Starts Panel Installation at Lapeer Solar Parks
DTE Energy (DTE - Free Report) , a leading provider of solar energy in Michigan, has started installing solar panels at two projects in Lapeer. The solar power generated from these projects will be capable of powering more than 9,000 homes.
The projects will generate approximately 150 temporary jobs during the construction phase, which involves the installation of about 200,000 panels. Completion is due by the end of 2016 and, once operational, five or more permanent workers will be employed.
The larger of the two solar projects is located on about 150 acres off Demille Road and is one of the largest utility-owned solar arrays east of the Mississippi River. The project is more than 15 times larger than any other solar installation in Michigan, the company said. DTE Energy's second project in Lapeer is located off Turrill Road on 100 acres of land.
The company also has three other solar ventures in Ypsilanti, Detroit and at the GM Warren Transmission plant. It has plans to have 31 solar parks in operation by the year’s end that will be capable of powering more than 14,000 homes.
DTE Energy’s focus on improving its cost structure and making capital investments in renewable generation, utility infrastructure, environmental compliance assets and reliability of its electric utility systems is appreciable.
It has plans to invest billions of dollars in capital projects through 2020 to drive growth. Improving economic fundamentals in Michigan are an added stimulus for the company. The addition of the five solar projects will help DTE Energy to meet a state mandate that requires electric utilities to supply 10% of their electricity from renewable energy sources.
Since 2008, the company has already invested more than $2 billion in renewable energy in Michigan. Of this, about $67 million has been exhausted to develop solar arrays. Notably, the company’s total renewable energy portfolio provides enough clean energy to power more than 400,000 homes.
Zacks Rank
DTE Energy currently has a Zacks Rank #4 (Sell). Some better-ranked stocks in the same space include Spark Energy, Inc. , Avista Corp. (AVA - Free Report) and CenterPoint Energy, Inc. (CNP - Free Report) . While Spark Energy sports a Zacks Rank #1 (Strong Buy), Avista and CenterPoint carry a Zacks Rank #2 (Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>