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NRG Energy CEO Makes the Case for Solar

NRG Energy is the most forward thinking utility in the country, Cramer said Tuesday.

While nuclear power and low-cost coal represent a bulk of the company's generating capacity, it also has some big investments in solar, offshore wind, and modern natural gas plants. In fact, NRG recently struck a deal to provide solar power to the Washington Redskin’s stadium.

NRG’s CEO David Crane told the “Mad Money” host that solar power is not just about public service, it is also good business.

“The rap on solar power for a long time is it’s just too expensive to install,” he said. “But the price of solar panels has dropped precipitously in the last two to three years. So we’re to the point right now where solar is cost affordable for businesses.”

He thinks that within three to four years, in at least half of the states in the U.S., solar will cost less than drawing power from the grid.

Crane also said the company is still interested in offshore wind, calling it “the biggest large scale renewable resource we have in the northeast United States.”

However, he said a lot of things need to fall into place for it to become an affordable power option.

To see the full interview, watch the video.

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