SolarCity (SCTY) Debuts New Utility, Grid Operations
SolarCity (NASDAQ: SCTY) introduced a new set of services for utility and grid operators. SolarCity’s new services include installation, financing, and consulting services for utility-scale solar and energy storage resource development, as well as advanced controls for demand response, distributed energy resources, and aggregated grid services.
Utility-Scale Solar – SolarCity launched its development of utility-scale solar power plants as an alternative to traditional fossil fuel generators. Utilities looking for additional generation capacity, or a solution to meet renewable portfolio standards and other environmental mandates, can leverage turn-key delivery of solar power via wholesale contracts and direct grid tied solar power systems. SolarCity manages the entire process from financing and design to installation, advanced controls and optimization, and system maintenance. Utilizing solar energy typically costs far less than building traditional generation assets, and solar energy rates are locked in for years into the future, protecting the utility and customers from volatile fuel prices.
Dispatchable Utility-Scale Energy Storage – As a complement to solar power, SolarCity now offers firm and dispatchable utility-scale storage solutions. Our capacity services offering combines solar and energy storage to intelligently take advantage of affordable solar power when it’s needed most. Together, solar and storage can help utilities avoid capacity charges and manage peak load more cost effectively than traditional fossil fuel-based solutions.
Distributed Energy Solutions – SolarCity’s portfolios of aggregated distributed energy resources (DERs) offer grid planners and operators increased flexibility and resiliency as they work to modernize the grid. DER portfolios can provide grid services such as dynamic capacity and peak shaving, flexible ramping, frequency regulation, voltage and reactive power support, grid visibility and more, all managed through SolarCity’s software and control platform. In addition, DER portfolios can offer increased reliability and resiliency by deploying energy storage to provide backup power during routine outages.