World's Biggest Corporations Value Solar Energy Investments
Industry Giants in the News
Across Massachusetts and Cape Cod, small and medium size businesses are discovering that installing a solar energy system is the most certain way to big and long term energy savings. These local companies are taking advantage of the low cost of solar plus some of the bast incentives in the nation that are offered by the state and federal governments.
The value of solar power isn’t limited to local business or to small business. Global, brand name companies providing products and services we all use are increasingly making commitments to cover all of their operational electricity needs with clean energy. Solar power is a critical part of each plan. But not every plan is exactly the same.
These industry giants have been making recent news detailing their existing success and future plans for becoming completely fossil-free in their energy supply. Here are some examples that caught our attention:
Discount Retailers and Solar Energy
Both Walmart and Target are massive retailers whose competition and business models require they operate at low margins. Every business decision has to be scrutinized for financial risks. Both are fully committed to their respective clean energy futures, proving that solar energy and other forms of renewable production are good, economic choices.
While the companies are making their warehousing, distribution, and big-box retail centers more energy efficient, they each have aggressive energy production and acquisition plans:
Walmart:
- Currently acquires 28% of its global energy needs from renewable sources, including over 200 MW from solar energy.
- Aims to increase acquisition to 50% renewable energy sourced electricity through onsite production and supply purchase agreements.
- Publicly commits to a long term goal of all operations to be 100% supplied by clean energy.
- Promotes Project Gigaton to reduce suppliers greenhouse gas emissions, including energy efficiency and clean energy supply. By the middle of 2019, suppliers have already cut 93 million metric tons.
Target Stores:
- By end of 2019 will supply 25% of its energy needs from renewable sources, including solar energy systems installed on over retail 500 stores.
- Has set an ambitious goal of reaching 100% renewable energy supply by 2030, with an interim target of 60% by 2025.
- Is working with global environmental partners to aid its suppliers in making their businesses more environmentally sustainable.
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Internet and Online Businesses go Solar
Although Amazon is a competitor to the giant big-box retailers, the company’s energy needs are different. Instead of addressing distribution centers, the company has a plan to reach 100% renewable energy supply by contracting from large wind and solar energy farms built across the country.
And Alphabet Google has an even more unique approaching to clean energy. The company invests for the benefit of local communities across the globe. In announcing 18 new renewable energy projects worldwide rated at 1.6 GW, the company’s CEO states that solar is now a priority. Within this new push, 720 MW of solar power projects are on board in 3 U.S. states. To date, Google has invested in 52 total clean energy projects approaching 6 GW of rated capacity.