Here’s a sure sign that solar is good for business: corporations in the US are adopting solar power at their facilities at an unprecedented rate, according to a new report by the Solar Energy Industry Association.
Many well-known businesses are installing solar. The top 25 companies by solar capacity include Walmart, Costco, Kohl’s, Apple, IKEA, and Macy’s.
In the past year, over 1,000 megawatts (MW) of commercial solar PV have been added at commercial facilities. Cumulative commercial solar deployment in the US totaled 3,380 MW and was located at more than 32,800 facilities throughout the country. This represents a 40% increase over last year.
As system costs continue to decline and solar becomes an even more attractive investment opportunity, this widespread adoption of solar power makes a lot of sense. With new financing models, companies can even adopt solar without investing money upfront, meaning the payback from solar can be immediate.
By taking the initiative and adopting clean, renewable sources of energy, these American companies are taking an important step to reduce carbon emissions while sending a message to consumers that they care about sustainability. And since solar also lets businesses reduce their energy costs, it’s good for their bottom line as well.
You can read more about the report on the SEIA website.