Editing ARCO (section)

===ARCO Solar===
During the 1970s, the United States government and states such as California sought to encourage companies to invest in the development of low-pollution renewable energy sources. Oil companies such as BP, Shell, and ARCO began to look into [[photovoltaic]]s. In 1977, ARCO purchased Chatsworth-based Solar Technology International, renamed it ARCO Solar, and moved it to Camarillo.<ref>{{cite news |url=https://www.pacbiztimes.com/2014/02/10/solar-pioneer-bill-yerkes-dies/ |title=Solar pioneer Bill Yerkes dies |date=February 10, 2014 |work=Pacific Coast Business Times}}</ref> In 1982, ARCO constructed the world's first photovoltaic central utility power plant, a 1-megawatt facility near Hesperia.<ref>{{cite journal |url=https://www.osti.gov/biblio/5049780 |title=Design, installation and performance of ARCO solar photovoltaic power plants |journal=Conf. Rec. IEEE Photovoltaic Spec. Conf.; (United States)|date=May 1984 |osti=5049780 |last1=Tolbert |first1=R. E. L. |last2=Arnett |first2=J. C. }}</ref> Unfortunately for ARCO, the solar panel industry was costly and not very profitable, so it was looking for a buyer by 1989.<ref name="lat-1989feb25">{{cite news |url=https://www.latimes.com/archives/la-xpm-1989-02-25-fi-101-story.html |title=Atlantic Richfield Plans to Sell Arco Solar Unit, Cites Poor Prospects for Growth |newspaper=[[Los Angeles Times]] |date=February 25, 1989 |first=Donald |last=Woutat}}</ref> It finally sold the company to the German company [[Siemens]] for $36 million in 1990.<ref name="lat-1989aug03">{{cite news |url=https://www.latimes.com/archives/la-xpm-1989-08-03-fi-1007-story.html |title=Siemens Wins Bidding for Pioneering Arco Solar Unit |newspaper=[[Los Angeles Times]] |date=August 3, 1989 |first=Patrick |last=Lee}}</ref><ref name="upi-1993mar01">{{cite news |url=https://www.upi.com/Archives/1993/03/01/Siemens-accuses-ARCO-of-fraud-in-sale-of-solar-business/9972730962000/ |title=Siemens accuses ARCO of fraud in sale of solar business |newspaper=[[United Press International]] |date=March 1, 1993 |author=<!--Staff writer(s); no by-line.-->}}</ref>