The Solar Energy Industries Association (SEIA) reports that U.S. companies are deploying record levels of solar and energy storage, according to the organization’s annual publication.Solar energy means doing business” report.
“Some of the world’s largest industrial and data companies continue to turn to solar and storage as a reliable, low-cost way to power their operations,” said Abigail Ross Hopper, president and CEO of SEIA. “These industry giants are investing in solar energy through a wide range of applications, including on-site and off-site installations, on carports, combined with storage, or even as an anchor tenant for a community solar project.”
Top renewable energy portfolios include Meta with 5.2 GW of solar production and Google with 936 MWh of domestic energy storage capacity. These two companies and Amazon have added the most solar to their portfolios through the first quarter of 2024 and maintain the largest pipeline of solar projects under contract. Manufacturers such as General Motors, Toyota and US Steel are also among the top 10 companies for new solar contracts.
Through the first quarter of 2024, U.S. companies have installed nearly 40 GW of solar capacity. Total storage usage by companies is over 1.8 GWh, and companies have reported that over 3 GWh of battery storage will be available in the next five years.
Business Solar Implementation Rankings 2024. SEIA
Companies like Meta, Google and other major software developers are trying to keep up with climate goals and the growing electricity needs of data centers. In a company update filed this summer, Google said it is not on track to meet its climate goals due to the energy demands of artificial intelligence, according to the Associated press. Amazon has a contract for 13.6 GW of solar energy, while Meta and Google each have almost 6 GW under contract.
For the ninth year in a row, Target is the largest commercial user of on-site solar energy. Prologis, Walmart, Amazon and Blackstone are also among the top five companies for on-site solar installations.
For the first time, ‘Solar Means Business’ follows the largest business users of battery energy storage. Google, Apple, Meta, Target, Walmart, Home Depot and Kohl’s are among the top 10 storage companies.
“Adding new solar power to the grid is a critical aspect of our approach to ensuring our data centers are backed by clean and renewable energy,” said Carolyn Campbell, head of clean and renewable energy, east, at Meta. “We are pleased to be ranked No. 1 for corporate solar purchasing in SEIA’s report this year and we continue to find ways to grow the grid for the benefit of all and support our goal of increasing our to match global operations with 100% clean and renewable energy.”
“Solar Means Business” examines the market drivers behind the growth of corporate solar energy, and includes an analysis of the variety of ways companies purchase solar energy, including on-site versus off-site installations and carport applications.
According to the report, most companies surveyed cited the Inflation Reduction Act’s long-term clean energy incentives as a key reason for expanding their renewable energy purchasing. Looking ahead, companies cited interconnection reforms, new community solar legislation and easier monetization of tax credits as policies that would increase their investments in solar and storage.
News item from SEIA