The good news is that many corporate businesses are developing rigorous low-carbon energy programs and are taking substantial measures to work toward those clean energy goals. Just to name a few big names, Bank of America, Starbucks and Facebook have all recently announced important solar initiatives.
Bank of America plans to install more than 60 new on-site solar installations over the next three years at select financial centers and ATMs across multiple states. The bank is steadily moving towards its goal to purchase 100% renewable electricity by the end of 2020 (Lillian 2019).
Starbucks has closed three significant PPAs (Power Purchase Agreements). The projects, 146 MW in total, comprise wind and solar farms in North Carolina, Oklahoma and Texas. Patrick Leonard, energy manager for Starbucks stores in the U.S. and Canada says “Not only does this portfolio model allow us to support new solar and wind farms that will deliver the clean energy equivalent to the electricity powering over 3,000 of our stores, it also opens the door for many new buyers to cost-effectively source smaller amounts of renewable energy” (Lillian 2019).
Facebook will be the sole tax equity investor for the Prospero Solar project in Andrews County, Texas, representing the company’s first direct investment in a renewable energy project. When completed in 2020, Prospero will have a nameplate capacity of 379 MW. Both Facebook and Shell will share the renewable energy attributes generated by the project’s energy production (Lillian 2019).
Clearly, solar initiatives by corporates are on the rise. Ultimately, these initiatives will allow them to power operations with clean energy, reduce energy bills costs and greenhouse-gas (GHG) emissions, while also helping the environment and, importantly, helping to accelerate the transition to a sustainable, low-carbon economy.
Imaged sourced from http://www.ourhomemadelife.com