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Swell Energy , a California-based installer and financier of distributed energy storage, has acquired Renu Energy Solutions , a regional installer covering the Carolinas and Georgia, for an undisclosed sum. Swell’s business relies on tying together hundreds or thousands of home batteries into an aggregate virtual power plant , or VPP, which can be used by utilities to bolster the grid; homeowners who agree to participate can earn compensation.

(Bloomberg) -- Congressional Republicans are putting President Joe Biden’s $400 billion green bank in their crosshairs, seeking a repeat of the political victory they scored in 2011 with the scandal over collapsed solar company Solyndra.Most Read from BloombergConfidential Jeffrey Epstein Documents Unsealed by New York CourtFed Sees Rates Staying High for Some Time With Cuts Eyed in 2024Saving the Panama Canal Will Take Years and Cost Billions, If It’s Even PossibleTech Stocks Log Four-Day Losin

Boosting the U.S. economy’s competitiveness and unlocking productivity gains from new technologies can lay the foundation for fiscal stability and growth in 2024

The New York-based firm is planning to donate 3% of the carried interest from its upcoming venture fund to climate organizations.

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