Invest. In Solar Development-Ready Land. TODAY.
Solar-powered iPhone someday? On Tuesday, Apple announced a 25-year power purchase agreement (PPA) to buy 130 megawatts of electricity from First Solar, the world's largest developer of solar farms, for $848 million. This marks the solar industry's largest-ever corporate PPA and nearly triples Apple's stake in solar.
First Solar is expected to start construction of the 2,900 acre solar plant, located in Monterey County, California, in mid-2015. The plant is expected to come online by the end of 2016.
First Solar is expected to start construction of the 2,900 acre solar plant, located in Monterey County, California, in mid-2015. The plant is expected to come online by the end of 2016.
"This is a really big deal," said Michel Di Capua, head of North American research at Bloomberg New Energy Finance (BNEF). The Apple-First Solar deal could spark a corporate solar stampede as companies like Google and Facebook look to procure the electricity they need to power existing infrastructure for a lot less.
"Given the profile of Apple and their reputation we think it's going to stimulate a lot of other companies that may not have programs as active as Apple's to ask questions - is there a smarter better way we can procure our energy?," First Solar CEO Jim Hughes said in an interview.
Apple isn't investing in solar to be a good Samaritan. They're doing it because it makes financial sense. "We expect to have very significant savings," said Apple CEO Tim Cook.
Wind power has always been cheaper than solar power. However, the sun is the future. The price of solar is declining quicker than that of any source of electricity and by 2050 solar could be the world's biggest single source of electricity according to the International Energy Agency.
"Given the profile of Apple and their reputation we think it's going to stimulate a lot of other companies that may not have programs as active as Apple's to ask questions - is there a smarter better way we can procure our energy?," First Solar CEO Jim Hughes said in an interview.
Apple isn't investing in solar to be a good Samaritan. They're doing it because it makes financial sense. "We expect to have very significant savings," said Apple CEO Tim Cook.
Wind power has always been cheaper than solar power. However, the sun is the future. The price of solar is declining quicker than that of any source of electricity and by 2050 solar could be the world's biggest single source of electricity according to the International Energy Agency.
Electricity Prices for Similar Deals ($/Mwh)
I've shared with hundreds if not thousands of people on how important it is to get educated on solar and ultimately invest in solar DEVELOPMENT-READY land. Just follow the money by following the leaders:
- Wal-Mart: The retailer has installed more than 100MW of solar capacity on store rooftops.
- Google: In 2014 Google's 400MW power-purchase deal in wind, boosted it's total share in renewable energy to 1GW.
- Ikea: The furniture retailer has committed to becoming 100 percent renewable by 2020.
- Amazon: The largest online retailer has jumped into renewable energy just last month with a 150MW wind agreement.
- Microsoft: In the past two years has entered into deals for 285MW of wind energy.
- Warren Buffett: The greatest investor of our time loves renewable energy and is expected to complete construction on the world's largest solar farm later this year. With $15B invested in alternative energy, Buffett, has been very clear that he intends to double his investment and continue to invest in alternative energy projects forever.
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