Chevron is installing solar panels — to produce oil more cheaply | Renewables | JWN Energy: Since April, solar panels have been powering oil pumps at Chevron’s Lost Hills 7,981 barrel-a-day oil field, according to the company. The 29-megawatt site, owned and operated by San Jose-based SunPower Corp., is designed to provide the field with 80 per cent of its electricity, equal to taking more than 4,000 cars off the road. In exchange, Chevron will earn so-called low-carbon fuel standard credits worth about $4 million a year at current prices.

“Electricity is one of Lost Hills field’s largest operating expenses, so having solar will be an important factor to help keep those costs down and maintain the planned oil field life,” Veronica Flores-Paniagua, a Chevron spokeswoman, said in an email.

Chevron is installing solar panels — to produce oil more cheaply | Renewables | JWN Energy: Since April, solar panels have been powering oil pumps at Chevron’s Lost Hills 7,981 barrel-a-day oil field, according to the company. The 29-megawatt site, owned and operated by San Jose-based SunPower Corp., is designed to provide the field with 80 per cent of its electricity, equal to taking more than 4,000 cars off the road. In exchange, Chevron will earn so-called low-carbon fuel standard credits worth about $4 million a year at current prices.“Electricity is one of Lost Hills field’s largest operating expenses, so having solar will be an important factor to help keep those costs down and maintain the planned oil field life,” Veronica Flores-Paniagua, a Chevron spokeswoman, said in an email.Read More