November 22, 2024 2:16 am
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SRP, Tesla settle lawsuit brought by SolarCity

By Tim Gallen | Phoenix Business Journal

Salt River Project and SolarCity parent company Tesla reached a deal to settle a longstanding lawsuit brought against the utility by the solar company.

Three years ago, SolarCity sued SRP over newly enacted rate plans that impacted solar customers. The installer contended the changes would increase rates substantially for new SRP solar customers.

The agreement announced this month dismisses that lawsuit with prejudice, according to a statement outlining the terms of the deal.

Under the agreement, SRP agrees to purchase a 25-megawatt / 100-megawatt hour battery energy storage system from Tesla (Nasdaq: TSLA) at market pricing, which will be installed at the

Agua Fria Generating Station in Glendale. The battery will be installed during the first quarter of 2021.

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