Verizon invests $40 million in new solar energy projectAugust 29, 2014
Project will help lower Verizon’s production of carbon dioxide emissions
Verizon, one of the largest and most influential telecommunications companies in the U.S., has announced plans to invest $40 million into a new solar energy project. The project will be managed by Verizon itself and the company will use it to produce electrical power for eight of its network facilities. Verizon expects that the new solar power project will lower its production of carbon dioxide and make the company’s operations more environmentally friendly.
Solar energy is becoming the most popular option for large companies looking to cut emissions
Solar energy has become one of the most aggressively supported forms of clean energy in the U.S. New emissions regulations coming from the federal government have forced large companies to make changes to the ways they consume electrical power. Many of these companies have turned to solar energy in their response to the emissions regulations that they must comply with. As such, the demand for photovoltaic products has grown.
Verizon has invested $140 million in on-site clean energy projects
Verizon has plans to cut its production of carbon emissions in half by 2020. In order to accomplish this goal, the company has begun heavily investing in solar power and other forms of renewable energy. To date, Verizon has invested some $140 million in on-site renewable energy projects. The company’s most recent investments are likely to double the amount of renewable energy capacity that the company has at its disposal.
Verizon works with SunPower to install solar energy systems at eight of its network facility sites
Verizon is currently working with SunPower, a leading solar energy company, to develop all of its solar projects. The latest project will span across eight network facilities that have significant energy demands. Much of this energy demand is likely to be met through the solar installations that take root at these facilities, but Verizon will likely continue receiving electrical power from utilities that use fossil-fuels. It could be several years before large companies like Verizon manage to abandon fossil-fuels completely in favor of renewable energy.