Apple forms solar energy subsidiary to sell excess electricity
Apple has formed a solar energy subsidiary to market surplus electricity generated by its solar energy projects powering its data centres, stores and offices throughout the US.
An application to the Federal Energy Regulatory Commission will see some 521 megawatts of global solar power managed by Apple Energy, which will also assume responsibility for managing investments in hydroelectric, biogas, and geothermal power.
In this way Apple will seek to purchase green energy off the national grid when it is struggling to generate sufficient power of its own and conversely sell surplus energy back when it is generating more than it requires.
At present Apple generates approximately 93 per cent of its global energy needs but it plans significant investment in capacity to meet and exceed its present requirements in anticipation of future growth.
Whilst Apple isn’t short of cash, having generated $233bn in revenue last year, the measure will eliminate waste and help recoup some of its investment costs.