Apple Energy LLC, a subsidiary of Apple, Inc. registered in Delaware last month, has successfully obtained federal approval from the United States Federal Energy Regulatory Commission (FERC) to sell excess energy generated from its solar facilities into the wholesale market, joining Google parent Alphabet in the energy-trading business.
The firm sought permission from FERC to begin selling power within 60 days of its filing on June 6. Sales can officially begin on Saturday, Bloomberg said, as FERC’s determined that Apple Energy doesn’t pose a risk of being able to hike up prices.
Apple Energy’s application “satisfies the commission’s requirements for market-based rate authority,” the agency said.
Apple wants to sell excess power to public utilities rather than the general public.
According to the filings for Apple Energy, it plans on selling power generated in Apple’s $850 million 130-megawatt solar farm near San Francisco, 50-megawatt facility in Arizona and 19.9-megawatt solar installation in Nevada.