Shares of SolarCity Corp 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.
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.
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