Renewable Energy Attracts Major Corporate Investments
By Ahnika LeRoy, Contributor
For quite some time, renewable energy has been a series of relatively small scale enterprises. But renewables have developed into industrial strength solutions that some large companies are utilizing to lower their costs for electricity.
The United States now has two of the world’s largest solar plants, Desert Sunlight and Topaz, which both have the capacity to produce 550 megawatts. Large developments of renewable energy in the private sector are becoming common place. Earlier this year, Apple announced a plan to invest $850 million in solar farms which will generate 280 megawatts of power—enough to power 60,000 homes and achieve carbon neutrality for their stores.
A new chapter in renewable energy is arising. Other companies like Google, Amazon, Microsoft, Ikea, and Walmart are making agreements similar to Apple’s. Firms in the private sector are now striking deals to purchase renewable energy. These commitments are helping to create new infrastructure and stimulate renewable energy source growth.
More and more companies are coming to understand that climate change is real and beginning to do their part to minimize their carbon footprints. With the help of Solar City, Walmart now has 190 stores with solar panels installed, bringing the retailer’s cumulative generation capacity to 65 megawatts.
Renewable energy is on the rise and there are impressive global trends to complement the domestic feats that private companies are facilitating. As referred to in a previous First Affirmative blog entitled Green Following Green, solar investment rose 25% to $149.6 billion in 2014, wind energy investment rose nearly $100 billion, and clean-tech firms raised $18.7 billion through 2014, achieving a seven-year high.
Renewable energy trends are spreading like wildfire across borders, influencing corporate investment, and creating positive impacts on our world. A truly sustainable future is a carbon neutral society.
At First Affirmative, we understand that the ways we save, spend, and invest can dramatically influence both the fabric and consciousness of society. We believe that in addition to the benefits of ownership, investors bear responsibility for the impact our money has in the world. Are you making conscious decisions about the impact of your consumer purchase and investment decisions?
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Posted: April 24, 2015