If you are researching the benefits of purchasing solar panels in 2019, then surely you are aware of the 30% Solar Investment Tax Credit. This federal incentive, which is set to reduce to 26% of total system cost on January 1, 2020, has significantly reduced prices for homeowners purchasing residential solar, growing the industry 8,600% since it was introduced in 2006. Of course, businesses are cashing in on the ITC as well. Here are 3 major commercial solar projects reducing electricity costs and carbon emissions in 2019.
1. Walmart
In stride with it's commitment to achieve 50% renewable energy operations by 2025, Walmart has signed a 5 state, 46 store purchase power agreement for solar energy. The Superstore's enormous roofs will house enough solar panels to power roughly the amount of 5,500 homes according to Solar Power World.
2. Coca-Cola
The soft drink giant has made strides to reduce its carbon emissions at its bottling facilities by increasing the amount of recycled plastic going into the bottles as well as installing solar panels on the buildings' roofs. The company is aiming to be powered from 60% renewable energy sources by 2020.
3. Shell
Yes, that Shell. As one of the world's largest oil companies, the corporation has invested $300 Million in efforts to reduce its carbon footprint. Along with significant efforts in global reforestation, the investment will support the construction of renewable resources such as wind and solar to power the companies electricity operations.
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