Apple is making so much solar energy to run their own businesses, that they have extra to spare. The company will soon sell excess solar power as early as this summer. The new spin-off venture is dubbed Apple Energy LLC.
Apple received permission from the Federal Energy Regulatory Commission (FERC) to sell energy at market rates since they deemed the company wasn’t big enough to influence prices, but they are certainly big enough to influence the market for renewable energy sources.
The company has been ramping up its solar initiative — signing up for an $850 million solar deal with First Solar (FSLR) last year. They likely plan to compete with Tesla Motors for energy storage, too, and with their unofficial electric Apple car soon to be on the market, the time is ripe for this kind of investment.
Ninety-three percent of the tech company’s energy is currently created using solar, wind, and water power. With solar prices expected to become more affordable, the company plans to market excess energy created at certain locations, even though the facility’s power consumption in Nevada is expected to grow 45 percent from 2017 to 2019, according to filings by Apple with the Nevada Public Utility Commission.
It seems this tech company knew solar was going to be big, even before it started to become more affordable than gas, coal, and oil. Solar panels, after all, were once much more expensive, which made energy created from them a premium. Though as any good techie knows, solar technology advances — like all other technologies — and this, in part, is what makes it more attractive now to so many countries looking for sustainable energy creation.
Bloomberg recently reported that ‘wind and solar are crushing fossil fuels’ despite the falling prices at the pump. Michael Liebreich, chairman of the advisory board for Bloomberg New Energy Finance (BNEF) has said:
“We’re in a low-cost-of-oil environment for the foreseeable future. Did that stop renewable energy investment? Not at all.”
And the world says a collective “Halleluja” — renewables are finally beating coal and oil 2 to 1. It’s about time. Apple obviously plans to take advantage of the changing worldwide sentiment toward fossil fuels. Escalating activism on more than six different continents has helped make this happen.
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