Edison International Teams Up with Tesla for Battery Storage Projects

Edison International (NYSE: EIX) announced that it has established commercial agreements with Tesla as part of its launch of a new line of Tesla Energy products. Southern California Edison (SCE), the regulated utility subsidiary of Edison International, and SoCore Energy, a subsidiary of Edison Energy that provides rooftop solar systems, are implementing energy storage projects that feature Tesla Powerpacks.

"We are excited to work with a cutting-edge company like Tesla to help create a market for battery storage systems," said Ron Litzinger, executive vice president of Edison International and president of Edison Energy. "The ability to store energy in batteries by both residential and commercial customers is key to expanding the nation's use of clean renewable power."

"This is an important, industry-changing development for the future of solar power," said Pete Kadens, president of SoCore Energy. "We look forward to working with Tesla to bring battery storage technology to our customers."

SCE is working with Tesla on two demonstration projects that can help reduce the cost of battery storage systems for residential and business customers. These demand response demonstration projects will test communication capabilities and explore rebates to customers who allow SCE to manage their battery charging in order to increase the use of renewable energy while ensuring continued grid reliability.

The first demonstration project is related to residential customers, targeting homeowners in SCE's service territory who have solar panels already installed with battery storage capability. The second demonstration project focuses on commercial and industrial customers who require a larger energy storage capacity. These two projects are expected to be in place and operational in 2015.

Separately, SoCore Energy is working with Cinemark Holdings, Inc., to design and install Tesla batteries at two of their theatre properties in Southern California. Cinemark theatres in Lancaster, Calif., and Orange, Calif., will feature Tesla battery units that will be charged with electricity from the grid during nonpeak hours at night. The battery system at the Lancaster site will be able to store up to 800 kilowatt-hours, while the Orange site will have a capacity of 1,200 kilowatt-hours, for use during peak periods. Cinemark and SoCore Energy are looking at additional locations for potential battery installations.

About Edison International

Edison International (NYSE:EIX), through its subsidiaries, is a generator and distributor of electric power and an investor in energy services and technologies, including renewable energy. Headquartered in Rosemead, Calif., Edison International is the parent company of Southern California Edison, one of the nation's largest electric utilities.

About Edison Energy

Edison Energy, a subsidiary of parent company Edison International, provides new products and services in an ever-changing energy marketplace, and invests in and partners with technology leaders in the energy space. Edison Energy's goal is to build on Edison International's core strengths to provide commercial and industrial customers with a range of energy services including power management and electric transportation. Edison Energy operations are completely independent of and unconnected to Southern California Edison.

About SoCore Energy

SoCore Energy (www.SoCoreEnergy.com), a subsidiary of Edison Energy, is a market leader in commercial and industrial solar portfolio development. With hundreds of solar solutions designed and installed across 19 states, SoCore offers multisite retailers, REITs and industrial companies portfolio-wide solar solutions that provide energy cost savings and carbon reduction opportunities. As a wholly owned, indirect subsidiary of Edison International, SoCore combines Edison's Fortune 500 stability with entrepreneurial creativity in order to provide energy solutions that its customers genuinely want and need.

SoCore Energy is not the same company as Southern California Edison, the utility, and SoCore Energy is not regulated by the California Public Utilities Commission.