Progress Energy's solar capacity triples in three years

Solar power connected to Progress Energy's grid reached 1 megawatt, the utility announced Monday. That's triple what the St. Petersburg utility had just three years ago. The surge in solar has been driven by rising electric rates and generous state rebates that cover about half of the installed cost of a solar energy system. A 5-kilowatt rooftop system for a home can cost $20,000 to $40,000. Utilities statewide have seen a surge in new solar panels since the rebates became available in 2006. Jeff Lyash, Progress Energy Florida's president and chief executive, called it a "significant milestone." While it's an enormous increase, it's a tiny fraction of the utility's capacity. Progress Energy has more than 4,600 megawatts of electric capacity from its coal, natural gas, oil and nuclear plants.