There is plenty of press attention for Apple’s billion-dollar solar facility deal announced today, and Apple CEO Tim Cook rightly commented that now is the right time for action on atmospheric carbon, which is the cause of climate change. An important detail was lost in the story, however: how much money Apple will save by having its own dedicated electric source. The company has to buy electricity anyway, and in this deal it is buying wholesale and paying cash, pretty much what it likes to do in general. This will save Apple a small fortune in electric bills, particularly as the cost of energy from ordinary commercial sources goes up over time.
Apple can make a deal like this because it has the cash to spend. Other investors who have cash and are wondering what to do with it may want to follow Apple’s example.
