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Apple Announces California Solar Energy Storage Project: Reuters

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  • Apple Inc (NASDAQ: AAPL) is constructing a comprehensive grid-scale energy storage project in California Flats, capable of storing 240 megawatt-hours of energy, enough to power over 7,000 homes for a day.
  • The project supports the company’s 130-megawatt solar farm that provides all of its renewable energy in California. However, the site does not provide power at night.
  • Apple is investing in utility-scale storage in California and research into new energy storage technologies while building upon distributed storage capabilities in Santa Clara Valley and through Apple Park’s microgrid.
  • Over 110 of Apple’s global manufacturing partners are shifting towards complete renewable energy for their Apple production, with almost 8 gigawatts of planned clean energy set to come online. All of which will prevent over 15 million metric tons of yearly CO2 emissions equivalent to taking off over 3.4 million cars annually off the road.
  • Price action: AAPL shares traded higher by 2.4% at $122.83 on the last check Wednesday.
 

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