Apple Can Sell Power as Tech Giants Boost Investments
- The iPhone maker joins Google, Microsoft as energy investors
- Tech giants leading in corporate investments in clean energy
People walk outside the Apple store on the Fifth Avenue in New York on Feb. 17, 2016.
Photographer: Kena Betancur/AFP via Getty ImagesThis article is for subscribers only.
Apple Inc., which is spending $850 million on a 130-megawatt solar farm near San Francisco over 25 years, can begin selling power into wholesale markets in the latest foray by a technology company into the energy business.
Apple’s subsidiary Apple Energy LLC may sell energy, capacity and other services needed to maintain reliable power, according to an order by the Federal Energy Regulatory Commission Thursday. In granting approval, the commission determined the company did not raise the risk of being able to unfairly hike up power prices.