US businesses are investing in clean energy at record levels, with major tech firms leading the way in solar energy usage. According to the latest "Solar Means Business" report by the Solar Energy Industries Association (SEIA), Meta, Google, and Amazon are at the forefront of solar energy adoption and battery storage.
Meta maintains its position as the top corporate solar energy user in America, with nearly 5.2 gigawatts (GW) of installed solar capacity. Google ranks first in energy storage, boasting 936 megawatt-hours (MWh) of installed battery capacity. By Q1 2024, these companies have added the most solar power to their energy portfolios, with other major players like General Motors, Toyota, and US Steel also rising in the ranks.
The report reveals that American companies have installed nearly 40 GW of solar capacity both on-site and off-site by Q1 2024, with corporate energy storage exceeding 1.8 gigawatt-hours (GWh). Further growth is anticipated, as companies have contracted for battery storage exceeding 3 GWh to be operational over the next five years.
SEIA President and CEO Abigail Ross Hopper stated, "Some of the largest industrial and data companies globally continue to turn to solar energy and storage as a reliable, low-cost way to power their operations." Tech companies lead this shift, driven by surging demand for electricity from data centers. Amazon, for example, leads the US with 13.6 GW of contracted solar supplies, while Meta and Google each have nearly 6 GW contracted—over 10 times larger than the next company in the ranking.
Target remains the top on-site corporate solar energy user in the US for the ninth consecutive year, followed by Prologis, Walmart, Amazon, and Blackstone in the top five. For the first time, the "Solar Means Business" report also tracks corporate battery energy storage, with Google, Apple, Meta, Target, Walmart, Home Depot, and Kohl's among the top 10 companies using storage to meet real-time energy needs.
Looking ahead, both off-site and on-site energy storage are expected to play a larger role in corporate renewable energy strategies. Medical companies like Kaiser Permanente are already using batteries to power microgrids, enhancing their facilities' resilience to outages.
Carolyn Campbell, head of Meta's clean and renewable energy division, emphasized the importance of expanding solar power to align the company's global operations with 100% clean energy: "We are excited to be ranked first for corporate solar energy procurement in SEIA's report this year, and we continue to find ways to expand our network for the benefit of all."
Target's Vice President of Real Estate, Erin Tyler, commented on the company's 20-year solar energy program: "Through our commitment to solar energy, we are on track to achieve our corporate goal of sourcing 100% of our electricity from renewable sources by 2030."
The "Solar Means Business" report also examines the policies driving solar energy adoption among American businesses. Many companies are leveraging long-term clean energy incentives from the Inflation Reduction Act. To further accelerate their renewable energy investments, businesses are seeking improvements in interconnection processes, new community solar legislation, and simplified monetization of tax credits.