Reflective of the growing popularity and increasing growth of solar nationwide, many of America’s leading Fortune 100 companies continue to significantly ramp up their use of clean solar energy, according to the 3rd annual Solar Means Business report, which was released by the Solar Energy Industries Association (SEIA).
The comprehensive report, which identifies major commercial solar projects and ranks top corporate solar users, shows Walmart at the top of the list for the third year in a row with 105 megawatts (MW) installed at 254 locations.
Rounding out the Top 25 companies utilizing solar are Kohl’s, Costco, Apple, IKEA, Macy’s, Johnson & Johnson, Target, McGraw Hill, Staples, Campbell’s Soup, U.S. Foods, Bed Bath & Beyond, Kaiser Permanente, Volkswagen, Walgreens, Safeway, FedEx, Intel, L’Oreal, General Motors, Toys “R” Us, Verizon, White Rose Foods, Toyota and AT&T.
Combined, these blue chip companies have deployed 569 MW of solar capacity at 1,100 locations – a 28 percent increase over a year ago and a 103 percent increase since 2012, when the first report was released. Representing a “Who’s Who” of the corporate world, these companies are playing an increasingly important role in the development, expansion and promotion of solar nationwide, while also reducing their operating expenses, benefiting customers and shareholders alike.
“What do Walmart, Costco and Apple have in common besides selling cell phones and computers? These iconic brands, and many others like them, are all investing big in solar energy,” said SEIA President and CEO Rhone Resch. “These forward-looking companies are helping to create thousands of American jobs, boost the U.S. economy and improve our environment. The 1,110 commercial solar systems currently in operation are generating enough clean electricity to prevent 549,296 metric tons of damaging carbon emissions from being released into our air. That’s the equivalent of saving nearly 62 million gallons of gasoline.”
Today, IKEA leads all companies in the percentage of their facilities that are solar powered, with nearly 9 out of 10 stores now utilizing clean, reliable and affordable solar energy. General Motors is next in line at 43 percent.
According to the report, the “growing adoption of solar by the commercial sector is predominantly the result of consistent price declines. The average price of a completed commercial PV project in Q2 2014 has dropped by 14 percent year over year and 45 percent since 2012. As solar prices continue to fall, more businesses in more states turn to solar to cut operating costs.”
“Going solar is a smart way for these blue chip companies to increase value for their shareholders,” said Nat Kreamer, CEO of Clean Power Finance and SEIA Board Chairman. “Businesses are dealing with higher and more volatile electric rates. At the same time, price declines and financing innovations have reduced the upfront cost of solar. These and other factors make solar a sound business decision today, and consistent policies at the state and federal levels will make solar a top three energy source for the U.S. in the future.”
Key Takeaways:
-The Top 25 companies for solar capacity have more than 569 MW of solar PV at 1,110 different facilities as of August 2014 – preventing the emission of an estimated 550,000 metric tons of damaging carbon each year.
-The average price of a completed commercial PV project in Q2 2014 has dropped by 14 percent year over year and by more than 45 percent since 2012.
-For commercial users, average electricity rates have increased more than 20 percent in 10 years, moving from $0.08/kWh to more than $0.10/kWh.
-The Top 25 companies for solar capacity as of August 2014 have installed 28 percent more solar capacity since last year’s version of Solar Means Business (445 MW) and more than doubled the amount in 2012’s report (279 MW).
-Walmart remains in the top spot, adding another 15 MW in the past year. Target moved from 16th to 8th with the addition of 15 new solar systems.
-The Top 25 companies completed solar installations in in 33 states and Puerto Rico, including three new states over the past year – Delaware, Rhode Island and Missouri
-In total, 129 million people – 41 percent of all Americans – live within 20 miles of at least one of the 1,110 commercial solar installations analyzed in this report.
Read last year’s report here.