SAN MATEO, Calif., May 5, 2016 /PRNewswire/ -- SolarCity (NASDAQ: SCTY), best known as the nation's number one provider of rooftop solar to consumers and businesses, today 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.
Several utilities have already begun to use SolarCity's services. Kauai Island Utility Cooperative (KIUC) previously worked with SolarCity to install a 12 megawatt (AC) utility-scale solar array, and is currently implementing a solar and storage facility that will boast a 13 megawatt (AC) solar array and 52 megawatt-hour battery system. Connecticut Municipal Electric Energy Cooperative (CMEEC) is in the process of leveraging SolarCity to deploy 13 megawatts (AC) of solar coupled with 6 megawatt-hours of battery storage across a portfolio of sites throughout Connecticut. Additionally, Southern California Edison has partnered with SolarCity in a pilot to demonstrate the value of aggregated DER portfolios. SolarCity is working with several additional utilities to utilize DERs for grid services as well.
For additional information, please visit www.solarcity.com/utilities.
SolarCity (NASDAQ: SCTY) provides clean energy. The company has disrupted the century-old energy industry by providing renewable electricity directly to homeowners, businesses and government organizations for less than they spend on utility bills. SolarCity gives customers control of their energy costs to protect them from rising rates. The company makes solar energy easy by taking care of everything from design and permitting to monitoring and maintenance. Visit the company online at www.solarcity.com and follow the company on Facebook & Twitter.
This release contains forward-looking statements including, but not limited to, statements regarding hiring and cost savings. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved, if at all. Forward-looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward looking statements. You should read the section entitled "Risk Factors" in SolarCity's quarterly report on Form 10-Q, which has been filed with the Securities and Exchange Commission and identifies certain of these and additional risks and uncertainties. We do not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/solarcity-launches-utility-and-grid-services-300263519.html