Drive for clean energy: Companies set to back 20000 megawatts of solar expansion

NEW DELHI: India could start installing 20,000 megawatts of solar power capacity as early as April after companies pledged to support the government’s drive for clean energy, an official told Reuters.

Details of the plan, which has drawn commitments from US, German and Chinese companies, will be announced on Friday, said Upendra Tripathy, secretary of the Ministry of New and Renewable Energy.

“We have got commitments from very established industry, both foreign and domestic for next year,” he said in an interview at his office.

Foreign companies will be allowed to decide where they manufacture the required equipment, he said.

The rapidly falling cost of solar power, which is expected to reach parity with conventional energy by 2017, has ignited interest in its potential in India.

Prime Minister Narendra Modi has looked to industry for help in funding what could be a $100 billion expansion in clean energy.

For its part, the government will have to find the land required to build the solar panels on.

Modi aims to make India one of the world’s largest renewable energy markets, targeting 100,000 MW of output by 2022 from just 3,000 MW currently.

One megawatt can power roughly 1,000 US homes although this varies widely, depending on the amount of heating or cooling needed, for example.

Despite more than 300 days of sunshine a year, India relies on coal for three-fifths of its energy needs while solar supplies less than 1 percent.

US-based First Solar and SunEdison Inc , Canadian Solar and China’s JA Solar are among the companies keen to expand into India.

Yet analysts say India’s target will be difficult to reach given the weak finances of electricity distribution companies that would buy in solar energy and the slow pace at which land for plants is made available.

“There’s a lot of interest, but there are concerns as well,” said Ajay Goel, chief executive of Tata Power Solar, one of India’s largest solar manufacturers and a unit of Tata Power Ltd . “Who is buying the power and do they have the ability to pay?”

Drive for clean energy: Companies set to back 20000 megawatts of solar expansion

Fortune 100 companies saved $1.1B using renewable energy

Ironically, energy companies and financial services companies are the biggest laggards

July 1, 2014
(Computerworld)

Clean energy is no longer just the bastion of crunchy granola types and companies hoping to improve their public image.

Increasing the use of renewable energy has become a targeted goal of almost half of Fortune 500 companies, and with good reason. According to a new report, more than half of Fortune 100 companies collectively saved $1.1 billion in energy costs by rolling out renewable energy programs.

The report, “Power Forward 2.0,” was put together by Ceres, David Gardiner & Associates, Calvert Investments and the World Wildlife Fund (WWF).

According to the report, 43% of Fortune 500 companies, or 215 in all, have set targets in one of three categories: reducing greenhouse gas emissions, improving energy efficiency and using renewable energy. When narrowed to just the Fortune 100, 60% of the companies have set the same clean energy goals.

Solar panels from SolarCity being installed on a Wal-Mart in Arizona (Image: SolarCity).

The 53 Fortune 100 companies reporting on climate and energy targets to the Carbon Disclosure Project have, according to a conservative estimate, saved $1.1 billion annually through emission reduction and renewable energy initiatives, the report found.

Here’s a list of companies that reported significant savings in 2012 from carbon reduction programs and renewable energy projects.

• UPS (saved $200 million)


• Cisco Systems (saved $151 million)


• PepsiCo (saved $120 million)


• United Continental (saved $104 million)


• General Motors (saved $73 million)


• Intel (saved $72 million)


• Wal-Mart (saved $71 million)


• AT&T (saved $41 million)


• Dell (saved $36 million)

In 2012 alone, the 53 Fortune 100 companies reduced carbon emissions by 58.3 million metric tons of CO₂ — the equivalent of retiring about 15 coal plants. On average, each company saved $19 per metric ton of carbon dioxide emissions.

Leading the charge to reach targets in the three categories of green energy initiatives are companies such as AT&T, Caterpillar, Dow Chemical, General Electric, General Motors, Procter & Gamble, Sprint and Wal-Mart.

For its part, AT&T had a 2012 goal of adding 5 megawatts (MW) of power from alternative energy sources from a 2011 baseline of 3.9MW. The carrier surpassed the target, adding 7MW generated with alternative energy. AT&T has installed 11MW total as of 2013; it now gets 13% of its energy from renewable sources.

IBM has saved about $477 million from its efforts to conserve energy. Both Wal-Mart and Dell could save about $1 billion each if they engaged in similar efforts, according to the report.

“The trends are clear: Leading companies are capturing business value by executing effective clean energy strategies, and with proven results, more are sure to join the pursuit,” the report states.

However, despite the overwhelming success some U.S. businesses have had in meeting targets and saving money, smaller companies and some entire sectors of the economy are missing such opportunities, according to the report.

For example, only 30% of the companies among the Fortune 250 to Fortune 500 have any kind of renewable energy or efficiency goals. And less than one-third of companies in the energy or financial services market have adopted energy saving targets.

“Collectively, the failure of these companies to follow what has become best practice also means that the corporate response to climate change is insufficient,” the report states.

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Fortune 100 companies saved $1.1B using renewable energy