Excellent John K. Kumi is a cryptocurrency and fintech enthusiast, operations manager of a fintech platform, writer, researcher, and a huge fan of creative writing. With an Economics background, he finds much interest in the invisible factors that causes price change in anything measured with valuation. He has been in the crypto/blockchain space in the last five (5) years. He mostly watches football highlights and movies in his free time.
Apple is implementing a Grid-Scale Energy Storage Project at its 130-megawatt solar farm in California.
In a bid to successfully implement the designed project of storing 240 megawatts-hours of energy, Apple Inc (NASDAQ: AAPL) plans on using several Tesla Inc (NASDAQ: TSLA) megapack batteries to execute this undertaking. Apple is implementing a Grid-Scale Energy Storage Project at its 130-megawatt solar farm in California. This has been said to be one of the biggest battery projects ever implemented.
To cement its name and popularity, they are ensuring that they have enough megawatt to power about 7000 homes a day.
The 85 Tesla Lithium-ion battery will be used for this project, and according to the document unearthed from the Monterey County Board of Directors last year, some of the energy found on the battery would be used in the powering of the Apple Park in Cupertino. The Tesla battery will help to store the energy generated by the 130-megawatt solar farm by Apple.
The 60MW battery storage expected to be used by Apple is not the biggest Tesla has ever produced. Tesla has on record of building battery storage solutions of around 100mw in size in Texas and Australia. Apple Inc. is also said to be exploring the possibility of building a battery from lithium iron phosphate to offset the overheating problem of many cars compared to Lithium-ion batteries.
Apple has revealed in the past couple of weeks different plans for their technological implementations. Apple has plans of building its supply chain and product carbon neutral latest by 2030, and interestingly, more than 110 of its manufacturing partners have completely switched to renewable energy to affirm their commitment to the project. The whole idea of the project is to save enough energy to ensure that the energy generated in the solar farm is consumed in the day and night.
They revealed in a financial filing that the metrics about the company’s social and environmental values will be the bedrock on which the executive cash bonus will be tied to. They also announced a $4.7 billion worth of Green Bonds invested in clean energy and carbon emission reduction. Apple has reserved a special interest in having the environment at heart in most of its moves. Apple has invested in several environmental Impact programs including renewable energy and recycling programs.
The company plans on ensuring that wastes associated with their shipments are reduced by shipping iPhones without chargers to simplify the procedure. However, Apple has no intention to reduce the cost of the change as they plan to slightly increase the margin of the product.
It has been revealed that the decision will surely reduce the negative impact on the environment. However, they intend to pass the cost of that change to consumers which is unfair. Another school of thought argues that the eco-friendly theory which has been the core focus in most of their decision making has been exaggerated.