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US corporate solar investments swell to 8300 megawatts finds new report

Tech giants, major retailers and other corporate leaders are making significant investments in clean energy and installed 1,286 megawatts (MW) of new commercial solar capacity in the United States in 2019, the second largest year on record according to the latest Solar Means Business report.
US corporate solar investments swell to 8300 megawatts finds new report

The annual report, released today by the Solar Energy Industries Association (SEIA), tracks both on-site and off-site installations and highlights the strong appeal of cost-saving solar energy for American businesses.

“The world’s most recognisable brands are walking the walk when it comes to their clean energy commitments” said Abigail Ross Hopper, president and CEO of SEIA. “Businesses are choosing solar energy because it can significantly curb their energy costs and add predictability during these uncertain times. We expect that the corporate sector will make greater investments in solar as businesses make and follow through on clean energy commitments to address the climate crisis.”

Apple and Amazon remain in first and second place when it comes to the top corporate solar users, followed by Walmart, which installed the most solar in 2019 and increased its solar use by 35 percent. This year was also the largest year yet for onsite commercial solar installations with 845 MW installed.

Apple, which has the most off-site solar installed through 2019, now has nearly 400 MW of solar capacity in its portfolio and has recently committed to make its supply chain and products 100 percent carbon neutral by 2030.

“The choice between a healthy planet and good business strategy has always been a false one, and we’ve proved that with a company that runs on 100 percent clean energy and a supply chain transitioning to do the same” added Lisa Jackson, Apple’s Vice President of Environment, Policy and Social Initiatives. “Solar power has been part of our environmental journey for more than a decade, and we’re grateful to the SEIA for this recognition of the strides we’ve made, and the strides of two of our suppliers also in the SEIA top 25. Together, we’ll reach our goal of making all our products with a net zero climate impact by 2030, and hopefully, inspire others to act urgently in defense of our planet and future generations.”

The report tracks 8,358 MW of commercial solar capacity across more than 38,000 systems. Combined, the systems generate enough electricity each year to power 1.6 million homes and offset 8.9 million metric tons of CO2 annually. For perspective, each week more than 7.2 million people, or 2.2 percent of the US population, shop at a Walmart store with a solar installation.

Corporations continue to procure off-site solar to power their operations and meet their ambitious clean energy goals. Over the next few years, an additional 5 GW of corporate off-site solar projects are slated to come online, which will more than double the total amount of off-site corporate solar.

Facebook, one of the top buyers of off-site solar is making its first appearance in the top 10 and made the biggest leap forward, jumping from 27th to 9th on the top corporate solar users list. Target, the company with the most solar capacity installed at its facilities, finished 2019 with a total of 283 MW of solar capacity. The company now has more than 500 solar projects in its portfolio.

Companies are also doubling down on their clean energy commitments. Several corporations on this list recently announced more aggressive clean energy goals, including Google, which is ranked 5th and now plans to run its data centers and corporate campuses on 100 percent carbon-free power by 2030. Walmart also announced that it plans to power its facilities globally with 100 percent renewable energy by 2035 and is targeting zero emissions across its global operations by 2040.

Other companies on the list, including Amazon, Microsoft, and Solvay have recently announced new initiatives and investments to lower emissions and green their operations.

Others, like Prologis, have specific goals for rooftop solar and Switch and Walmart are beginning to use energy storage.

For additional information:

Solar Means Business

Solar Energy Industries Association (SEIA)

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