[BETA] Fortnightly

SolarCity raised lease financing from Goldman Sachs to fund more than $500 million in solar power projects ­– an estimated 110 MW in generation capacity – for homeowners and businesses. The agreement was initiated in 2012 and expanded per its initial terms at the end of April. Solar City says the combined lease financing is the largest of its kind announced in the U.S. for homeowners’ rooftops. About 26 MW has already been deployed under the lease program. 

ClearEdge Power, a manufacturer of scalable, distributed power systems, has closed on its acquisition of UTC Power, the fuel-cell production subsidiary of United Technologies Corp.

Southern California Edison (SCE) and GE are collaborating to put the smart grid to work by upgrading and modernizing the utility’s infrastructure. The project will include electric-distribution infrastructure, substations, residential homes, cyber security systems, battery energy storage, and EV charging stations at the University of California-Irvine, and other products that affect the reliability of a modernized grid.

The California Public Utilities Commission (CPUC) unanimously approved a decision ordering Southern California Edison (SCE) to procure between 1,400 and 1,800 MW of energy capacity in the Los Angeles basin to meet long-term local requirements by 2021. Of this amount, at least 50 MW is required by the CPUC to be procured by SCE from energy storage resources, as well as up to an additional total of 600 MW of capacity required to be procured from preferred resources – including energy storage. “Preferred resources” also include e