Companies across the United States are investing in record-levels of solar and energy storage to power their operations. According to the Solar Energy Industries Association’s (SEIA’s) new “Solar Means Business” report, Meta retains its spot as the top corporate solar user with nearly 5.2 GW of capacity, while Google is the leading energy storage user with 936 MWh of installed battery capacity.
Meta, Google, and Amazon added the most solar to their electricity portfolios through Q1 2024 and have the largest pipelines of new solar procurements under contract. Major manufacturers like General Motors, Toyota and U.S. Steel are also among the top ten companies for new solar contracts.
Through Q1 2024, U.S. businesses have installed nearly 40 GW of onsite and off-site solar capacity. Total corporate storage use exceeds 1.8 GWh, and corporates have reported over 3 GWh of contracted battery storage expected to come online over the next five years.
“Some of the largest industrial and data operations in the world continue turning to solar and storage as a reliable, low-cost way to power their operations,” said SEIA president and CEO Abigail Ross Hopper. “These industry giants are investing in solar through a diverse range of applications, including onsite and off-site installations, on carports, paired with storage, or even as an anchor tenant for a community solar project.”
Technology firms have become the dominant industry investing in solar as electricity demand soars to keep pace with data center growth. Amazon has a nation-leading 13.6 GW of solar procurements under contract, while Meta and Google each have nearly 6 GW under contract. These pipelines are over ten times larger than the next company in the rankings.
“Adding new solar energy to the grid is a critical aspect of our approach to ensuring our data centers are supported by clean and renewable energy,” said Carolyn Campbell, head of clean and renewable energy, East at Meta. “We’re thrilled to rank number one for corporate solar procurement in SEIA’s report this year and we continue to find ways to grow the grid to benefit everyone and support our goal of matching our global operations with 100% clean and renewable energy.”
For a ninth consecutive year, Target retains its position as the nation’s leading onsite corporate solar user. Prologis, Walmart, Amazon and Blackstone are also among the top five companies for onsite solar installations.
“We began our solar program more than 20 years ago,” said Erin Tyler, VP of property management at Target Corp. “Target’s long-term investments in clean energy continue to drive value for our guests, communities, and shareholders. Through our commitment to solar, we’re well on our way to achieving our corporate goal of sourcing 100% of electricity from renewable sources by 2030.”
For the first time, “Solar Means Business” is tracking the largest corporate users of battery energy storage. Google, Apple, and Meta are also among the top 10 companies turning to storage to cover more of their power needs on a real-time basis, along with major retailers like Target, Walmart, Home Depot, and Kohl’s.
In the coming years, offsite and onsite energy storage will be a dominant trend in corporate renewable energy integration. Leaders in the medical field like Kaiser Permanente are also using batteries to power microgrids at its medical centers to make them more resilient to power outages.
“At Digital Realty, we’re committed to delivering sustainable solutions that drive value for our customers and communities alike,” said Aaron Binkley, VP of sustainability at Digital Realty. “Being recognized in SEIA’s Solar Means Business report is a testament to the hard work of our teams as we continue to source high-quality renewables and expand our 100% renewable energy commitment across our global portfolio. We’re proud to be part of building a cleaner, more sustainable future.”
“Solar Means Business” examines the market drivers behind this historic corporate solar growth, and it includes analysis of the variety of ways that companies are procuring solar, including onsite vs. off-site installations, carport applications, etc.
According to the report, most companies surveyed listed the Inflation Reduction Act’s long-term clean energy incentives as a major reason for expansion of their renewable energy procurement. Looking ahead, companies cited interconnection reforms, new community solar legislation, and simpler tax credit monetization as policy areas that would increase their solar and storage investments.
2024 Corporate Solar Rankings
Read the full report and see where America’s top brands rank among the biggest users of solar and energy storage.
