Global shipping giant UPS will invest around USD 18 million in on-site solar energy production over the course of the year, increasing its solar energy production capacity by nearly five-fold.
UPS announced last Friday that it is investing around USD 18 million in increasing its solar energy capacity. It will purchase over 26,000 solar panels and install them at eight of its facilities in the US. The installations will be completed by the end of 2017.
Altogether, these new projects will expand UPS’s own solar power generating capacity by almost 10 megawatts, the equivalent of providing electricity to around 1,200 homes each year. This represents a nearly five-fold increase over what the company is currently producing from solar energy.
Once installed, each building will effectively produce 50 per cent of its daily energy use via the sun.
As solar panels have the ability to generate electricity for more than 25 years, the solar installations provide UPS a “proven way to effectively and efficiently provide long-term power” to its facilities, said Bill Moir, director of facilities procurement at UPS.
“We have a significant number of facilities that are well positioned to deploy solar at scale and increase our sustainable energy options for our buildings and electric vehicles.”
The company expects its expanded solar portfolio will reduce carbon emissions by some 8,200 metric tonnes per year.
UPS first began investing in solar power in 2004 and has invested more than USD 750 million since 2009 in alternative fuels, advanced technology vehicles and fuelling stations worldwide.
As Climate Action Programme reported, UPS is a member of the Fortune 500 list, whose members are increasing adopting renewable energy in an effort to cut energy costs. In 2014, over half the Fortune 500 companies had saved a total of USD 1.1 billion in energy costs by launching renewable energy programmes.
Image credit: UPS