The biggest and most profitable companies in the United States are making some of the most significant investments in solar. Big names like Meta, Amazon, Apple, Walmart, and Microsoft, continue to source their energy needs from solar and other renewables. As of June 20, 2022, the leading corporate solar users in America have collectively installed nearly 19 GW of capacity across almost 50,000 facilities nationwide.

Top US Companies Based on MW of Solar Capacity Installed Through June of 2022 according to SEIA.

Why are the biggest Fortune 500 companies turning to solar to power their operations? There are a few reasons:

Cost Savings

Solar energy can significantly lower energy costs in the long run. By investing in solar installations, companies can reduce their dependence on traditional energy sources, leading to substantial savings on electricity bills.

According to Environment America, Walmart’s existing solar installations have already saved the company over $1 million, and its installations in California were expected to provide between 20% to 30% of each location’s electricity needs.

Energy Independence

Using solar energy helps companies diversify their energy sources and reduce vulnerability to fluctuating energy prices. This independence can enhance operational resilience.

Microsoft recently made an agreement to help support the development of over 10.5 gigawatts (GW) of new renewable energy capacity. Large technology companies need more electricity to support power-hungry data centers that continue to use more power with growing digitalization and the increased adoption of artificial intelligence (AI).

Long-term Investments

Solar energy is a stable investment with predictable returns. Companies recognize that investing in renewable energy infrastructure is beneficial for long-term financial performance.

As part of Target’s goal to hit net zero emissions by 2040, they’re investing in numerous projects across the country. This includes building the largest rooftop solar array in the state of New York on their distribution center in Wilton. Going live this year, the 7.5-megawatt system will provide enough watts of electricity to power over 1,200 homes annually and will eliminate Target’s electric bill at the site. Over the life of the system, Target’s solar investment will save hundreds of thousands of dollars for the company.

Sustainability Goals

Many of these companies have set ambitious sustainability targets, aiming to reduce their carbon footprints and become more environmentally responsible. Investing in solar energy aligns with their commitment to sustainability. Both Microsoft, Apple, and Google have pledged to be carbon-neutral by 2030.

Corporate Social Responsibility 

Emphasizing renewable energy usage enhances a company’s reputation and appeal to environmentally conscious consumers and investors. Demonstrating leadership in sustainability can improve brand loyalty and attract talent.

Regulatory Compliance

As governments implement stricter environmental regulations, transitioning to solar energy can help companies comply with these requirements and avoid potential penalties.

The EPA continues to work towards improving the quality our natural resources, improving health and reducing the impacts of global warming. To see if your company is in compliance with the EPA’s regulations you can visit their website here.

Innovation and Technology Leadership

Engaging in solar projects allows these companies to showcase their commitment to innovation and technology. Many tech giants see renewable energy as a crucial component of future energy solutions.

By embracing solar energy, these Fortune 500 companies not only contribute to a more sustainable future but also enhance their operational efficiency and market positioning.

Lancaster Solar Farm, 80 MW solar facility supporting Meta’s operations in Georgia

Your business doesn’t have to be listed on the Nasdaq in order to see significant savings by going solar. Good Energy Solutions has helped many companies generate their own clean renewable energy. As a company that helps navigate our customers through the entire solar process, we can help you design, finance, and install a solar panel system that will help you offset your monthly electric bill.