The Hawaiian Electric Companies submitted power purchase agreements for seven grid-scale, solar-plus-storage projects to the Hawaii Public Utilities Commission, according to a Jan. 3 press release. The projects total 262 megawatts of solar and 1,024 megawatt-hours of energy storage, with contract prices ranging from $0.08 to $0.12 per kilowatt-hour. The utilities said that the contracts mark the “largest and lowest cost portfolio of new renewable energy” to be installed in Hawaii.

The companies said that the price for six of the projects are the lowest for renewable power in the state, providing contractual flexibility to dispatch energy to meet grid needs. The projects would provide stable, long-term prices compared to the volatility of fossil fuels which cost about 15 cents per kilowatt-hour.

Hawaiian Electric Company Inc., Hawaii Electric Light Company Inc., and Maui Electric Company Limited have more than 500 megawatts of renewable energy under contract and nearly 80,000 private rooftop systems. The projects would help the companies further reduce the use of fossil fuels, which has declined by 26 percent over 10 years.