Chevron plans solar panel installation
The sloping panels will be used to power the pumps and the pipelines operated at Chevron's Kern River oil field facility.
The panels represent latest photovoltaic technologies from seven companies that Chevron is looking at as possible candidates to power its operations worldwide.
Photovoltaic technology involves converting sunlight into electricity.
Excess power will be re-routed to the local Pacific Gas & Electric Co utility grid under a metering system that gives Chevron credit for the excess energy.
Chevron could not be immediately reached for comment by Reuters outside of regular U.S. business hours.
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Traders and analysts expect normal consumption this time around as home heating during the chilly season replaces commercial demand.
Last week electricity consumption in France, Germany and the U.K. was close to business-as-usual levels for the time of year, according to BloombergNEF data. By contrast, power demand had dropped 16% in the first seven days of the springtime lockdown.
How power demand performs has significance outside the sector. It’s often seen as a proxy for…
