The solar energy project is expected to help stabilize electricity costs for residents and businesses in Las Vegas, Nevada, where electricity prices have risen more than 50 percent since 2000. Nevada Solar One will provide clean renewable power during peak demand, when electricity prices and demand are highest. The solar energy electricity generated will be purchased by Nevada Power Company and Sierra Pacific Power Company through long-term power purchase agreements at fixed electricity prices, similar to the long term contracts and solar energy system programs that have been purchased by the likes of Wal-Mart and other fortune 500 companies.