Corporate Investment In Solar Energy Surges

Corporate Investment In Solar Energy Surges

2019-08-01T04:42:02+00:00August 1st, 2019|Solar Energy|

America’s top corporations are pouring investments into solar energy – led by Apple and Amazon— according to a newly released report by the Solar Energy Industries Association (SEIA).

Following mixed growth in the early part of this decade, corporate solar adoption has surged over the past several years, “with more than half of all capacity installed since 2016.” Over that time period, Apple leads all corporates with 393 MW installed, followed by Amazon at 330 MW. Target, Walmart, and Google boast 242 MW, 209 MW, and 143 MW respectively. Declining costs, more flexible financing, and climate-friendly state and local policies are accelerating commercial solar adoption.

According to the report, the 7,000 MW of commercial solar installations operating today generate 10.7 million MWh of electricity annually, enough to power 1.4 million homes.

SEIA president and CEO Abigail Hooper states that “Top companies are increasingly investing in clean, reliable solar energy because it makes economic sense…when global brands go solar, the rest of the world takes note.”

The July report tracks more than 7,000 megawatts (MW) of installed solar capacity across 35,000 projects in 43 states, representing more than 70% of all commercial solar capacity installed in the U.S. These are not simply utility-scale solar projects but include a host of commercial installations ranging from rooftop systems to solar parking canopies to large solar installations powering critical data centers.

Amazon, which now has 50 rooftop solar installations operating across its fulfillment and sorting facilities, states that these rooftops are capable of generating upwards of 80% of the energy needs of each building annually.