Jan 10, 2017
National Grid invests $100m in US solar venture
National Grid, which operates electricity networks in Britain and the US, is making its first move into solar power with a $100m investment in a partnership with Sunrun, the largest independent rooftop solar company in the US. The joint venture will sell solar power systems to homes and businesses, and develop products and services for a power grid adapting to a new model of small-scale local generation. In several US states, incumbent utilities have been trying to persuade politicians and regulators to change rules that they say unfairly benefit rooftop solar companies. The two companies will work together to sell Sunrun solar systems, including a new package that provides a battery for domestic energy storage, and on providing technology to help support the grid, which faces new challenges as generation becomes increasingly decentralised. For Sunrun, the partnership provides a boost to its finances at a time when the US rooftop solar industry has been under pressure. The largest US rooftop solar provider, last year agreed to be bought by Tesla, the electric car and battery company, in a move that was widely interpreted as evidence of the financial strain it was facing.
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