Apple tops latest corporate solar investments

Tech giant Apple is now the largest buyer of corporate-level solar energy in the United States.

According to the latest Solars Means Business report from the Solar Energy Industries Association (SEIA), in 2018, Apple had nearly 400 megawatts of total installed capacity.

Combining both on-site and off-site installations, the report found that more than 7,000 MW of commercial solar capacity has been installed in the United States. That represents an annual generation of 10.7 million MW hours and a gain of 4,500 MW over the year previous.

More than half of all corporate solar capacity in the United States has been installed only since 2016.

“Top companies are increasingly investing in clean, reliable solar energy because it makes economic sense,” Abigail Ross Hopper, president and CEO of the SEIA, said. “During the Solar+ Decade, corporate solar investments will become even more significant as businesses use solar to fight climate change, create jobs, and boost local economies. When global brands go solar, the rest of the world takes note, and this report puts the power of corporate solar investment on full display.”

The top names on the corporate solar list include Amazon, Target, Walmart, and Google.

“Playing a significant role in helping to reduce the sources of human-induced climate change is an important commitment for Amazon,” Kara Hurst, director of Sustainability for Amazon, said. “Major investments in renewable energy are a critical step toward addressing our carbon footprint globally. We will continue to invest in these projects and look forward to additional investments this year and beyond.”

SEIA credits the gains to a mix of falling prices and more flexible financing and procurement structures.