Apple now has permission to sell power to wholesale markets, according to an order by the Federal Energy Regulatory Commission.
The company, which last year spent $850 million on a solar farm in California, joins Alphabet in the energy-trading business.
Apple and Alphabet are two of several companies outside the utility industry with an interest in selling energy, capacity and other services needed to maintain reliable power.
Apple generated $42.4 billion last fiscal quarter, earning a profit of just under $8 billion. The company generated $24 billion from the iPhone, $5 billion from the iPad, $5 billion from Macs, and $6 billion from services.
In addition to energy, where will the world’s most valuable technology company turn to experience new growth? One area we know Apple is investing in is autonomous vehicles, AKA the self-driving car. The company is silent on this project, which may not launch until 2021, but several sources over the last couple of years have confirmed Apple is brewing something big in that department.
Also, augmented reality and artificial intelligence. Augmented reality, perhaps best demonstrated by the global success of Pokémon Go, is something Apple believes in long-term, CEO Tim Cook says. He also confirmed Apple is very interested in artificial intelligence—technology the company is already starting to use to curate content for users and identify usage patterns to improve battery life (not to mention Siri, its digital assistant).