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Duke Scales Back Solar Investment

solar-panel-house.jpgWe heard Cramer yammering something about Duke Energy and solar power earlier on CNBC, but we sorta tuned him out. We're guessing this is it:

Charlotte Observer:  Duke Energy has cut in half its $100 million plan to place solar-electric panels on hundreds of N.C. rooftops after consumer advocates for the state Utilities Commission called the proposal too aggressive and expensive.

The commission will hold a hearing today on the plan, which Duke altered in a filing late Monday. Customers could see smaller electricity rate increases to pay for solar power if the commission agrees to the modified plan.

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All this, and more, is inevitable as energy gets cheaper and cash gets scarce.

See also:

Alt Energy Stocks Crushed As Oil Bubble Pops

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