California utility company PG&E said Tuesday it plans to develop 500 megawatts of solar power, its largest-ever plan to build and invest in ground- and rooftop-mounted solar energy generation systems. The company plans to spend about $1.4 billion on the project and hopes the solar generation could serve up to 150,000 homes.

Prompted by changes to federal tax law last fall, PG&E is taking advantage of tax credits for renewable energy development that were previously unavailable.

“This program represents an unprecedented commitment of our capital and expertise to speed the delivery of clean, renewable energy to our customers,” said PG&E Chairman and Chief Executive Peter Darbee.

PG&E said it would develop and own 250 megawatts of its own solar-generation capacity, mostly using ground-mounted solar panels. PG&E will also be investing in photovoltaics, which directly convert light into electricity.