January 26, 2022
It's no secret that installing solar can help many commercial businesses save money and increase their ROI. When big-box stores install solar, they have the greatest potential to increase their ROI, save money on utility expenses, and increase their brand equity and reputation. |
According to a recent Environment America report, big box stores can generate 84.4 terawatt-hours of solar energy each year. This amount is enough to power over 8 million homes in the United States or 30,400 Walmart stores. California, Texas, Florida, Ohio, and Illinois are the states with the greatest potential for solar power with big-box stores. Walmart's solar installations have already saved the company more than $1 million in costs. Walmart's initiative to install more PV solar panels on its rooftops in California is expected to meet more than 20-30% of its energy consumption needs.
Businesses should set goals and expectations for installing solar on their facilities to combat climate change, help local communities, increase brand equity, and reduce energy costs. They should also invest capital, time, and other resources in meeting these goals. Many corporations, including Target, Walmart, Amazon, and Apple, have already expressed their desire to contribute to the use of clean, renewable energy and combat climate change. As of 2019, these big-box retailers had installed over 1.4 gigawatts of capacity, accounting for 11% of total commercial solar power in the United States that year.
With electricity costs rising substantially and tax incentive programs decreasing year after year, now is the best time for commercial enterprises to install solar. Consistent efforts to implement state and federal incentive programs will enable many of these big box stores and other commercial enterprises to continue the trend of going green with solar.
Created By:Solbid Inc.