Market Overview

SolarCity Announces New Set Of Services For Utility Operators

Share:
SolarCity Announces New Set Of Services For Utility Operators
Related
The Most Admired Tech Leaders: Musk, Gates, Jobs, Zuckerberg And Bezos Take The Lead
The New Tesla Is Already Up To Great Things: Check Out This 100% Solar Powered Island
Regime Change and the Clean Energy Contrarian (GuruFocus)

Shares of SolarCity Corp (NASDAQ: SCTY) were trading higher by more than 3 percent early Thursday morning after the company announced the launch of three new services for utility operators.

First, SolarCity launched its development of utility-scale solar power plants, which act as an alternative to traditional fossil fuel generators. Utilities can leverage turn-key delivery of solar power through wholesale contracts and direct grids that are tied to the solar power system.

Related Link: A Bull Previews SolarCity Earnings: Significant Execution Questions Need To Be Answered

Second, SolarCity will now offer firm and dispatchable utility-scale storage solutions. This will help utilities avoid capacity charges and manage peak load more cost effectively versus fossil fuel-based solutions.

Finally, SolarCity's portfolio of aggregated distributed energy resources (DER) can provide grid services including dynamic capacity and peak shaving, flexible ramping, frequency regulation, among others.

At time of writing, SolarCity was trading up 3.93 percent in Thursday's pre-market session.

Posted-In: Solar Power Solar StocksNews Commodities Markets Movers Tech Trading Ideas

 

Related Articles (SCTY)

View Comments and Join the Discussion!