A fire at the world’s largest battery storage plant in Northern California is smoldering after sending plumes of toxic smoke into the atmosphere.

Evacuations were lifted Friday night for people near an ongoing fire that erupted Thursday at one of the world’s largest battery storage plants in the northern half of California. Video circulating on social media showed smoke and flames erupting from the Moss Landing Power Plant on Thursday night in the Monterey County community of Moss Landing,

Monterey County residents near a Moss Landing power plant were ordered to evacuate Thursday night after a fire broke out at the facility.

A recent rule change could cause a spike in insurance premium for homeowners across California, as the costs of the Los Angeles area wildfires are passed onto them in a way that was not allowed in the past.

Changes in California's Fair Access to Insurance Requirements (FAIR) plan could mean higher expenses for homeowners after fires.

If the insurance industry stops writing policies for California homes, it will ultimately hit the mortgage industry.