Source: bloomberg.com
Published: June 9, 2016
NOTE: This article requires a Bloomberg subscription to read in full.
Photographer: Josh Edelson/AFP/Getty Images
By Alex Webb
Apple Inc. plans to sell excess electricity generated by solar panels on the roof of its new headquarters in Cupertino, California, joining Google parent Alphabet Inc. in efforts to trade on the energy market.
A subsidiary named Apple Energy LLC has applied to the U.S. Federal Energy Regulatory Commission to sell power from the site’s solar panels and hydrogen fuel cells, as well as from solar farms, hydroelectric plants and biogas facilities in Oregon, North Carolina, California, Nevada and Arizona, according to a June 6 application submitted by Apple to the agency. The filing was reported earlier by 9to5Mac.com.
Apple, which plans to move into Apple Campus 2 next year, and Google are among the biggest investors in energy projects outside the utility industry. The iPhone maker spent $850 million last year on a 130-megawatt solar farm south of San Francisco. If Apple’s application is approved, it will be able to sell energy directly to customers, rather than through an energy utility, beginning Aug. 5. Google secured similar rights back in 2010.