Why are some of the largest and most cost efficient companies turning to solar for energy consumed by on-site facilities? It’s pretty simple; they want to continue to be the largest and most cost efficient companies. Iconic brands like WalMart, Costco, IKEA, Kohl’s, and Walgreens are synonymous with proficient management, low overhead and profitable business models. And now they’re deploying record level solar systems because they see a smart investment comprised of decreasing installation costs, innovative financing options, and the ability to stabilize future energy expenses.
When the price of commercial solar systems dropped almost 14 percent in 2012, advantageous companies saw an opportunity to reduce a portion of their operating expenses by controlling their energy costs. Solar energy provides an appealing choice with predictable prices for 20-30 years, reducing utility price volatility for large organizations managing long terms budgets.
A report by Solar Energy Industries Association and Vote Solar Initiative analyzed 42 companies that deployed at least 312 megawatts (MV) of photovoltaic (PV) capacity at more than 750 locations in at least 26 states and Puerto Rico. According to the study, the 20 companies with the highest installed capacity have deployed at least 279 MV, enough to supply all the electricity needs of 46,500 American households. From large organizations to small business, deploying solar energy cuts operating costs, improves the bottom line, and increases profits, thus allowing brands to focus on their core business.
In coming years, most industry predictions call for more consistent and moderate growth. According to the study, businesses, non-profits, schools and public agencies are expected to add 7000 megawatts of additional PV systems over the next five years – enough to replace seven retiring coal power plants.