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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.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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