Energy Efficiency, Energy Procurement, Industrial - June 15, 2018
Energy innovation by large corporations power Ohio growth
Large corporations, including Campbell Soup Company, General Motors, JP Morgan Chase & Co., and Owens Corning were among those cited as leading investors in energy innovation in Ohio.
A new report, Powering Ohio: A Vision for Growth and Innovative Energy Investment, completed by Synapse Energy Economics and Case Western Reserve University’s Great Lakes Energy Institute, noted that Ohio could attract more than $25 billion in investments by successfully transforming the state’s energy economy.
Windpower Engineering noted that integrating clean technology and energy innovation will be critical for economic growth, adding that Ohio already has a strong start, with more than 15,500 manufacturers producing $106 billion of annual industrial output.
The report addresses five opportunities for growth in Ohio: attracting investment from corporate clean energy leaders; transforming transportation; building clean electricity generation; boosting Ohio’s energy productivity and harnessing a 21st-century electric grid.
Investments by corporate leaders in energy efficiency, renewable energy, and transportation transformation include:
- General Motors, with a 100-MW wind farm in Ohio to power its plants in Ohio and Indiana, as part of its commitment to reach 100% renewable energy by 2050
- JPMorgan Chase & Co. will build up to 20 MW of onsite solar at its Polaris Corporate Center
- Campbell Soup Company installed 9.8 MW of solar at its plant in Napoleon
- Owens Corning powers its Toledo headquarters with an on-site 2.4-MW solar array
“The development and growth of the clean energy industry isn’t happening in a vacuum. It’s an extremely competitive sector of the global economy, with companies and investors fighting to acquire technological and funding advantages," said Grant Goodrich, director of the Great Lakes Energy Institute at Case Western Reserve University. "Ohio is blessed with a highly productive workforce, a strong manufacturing presence with robust supply chains, and innovative companies in the energy and tech sectors. But in order to secure future investments in clean energy, or from Fortune 500 companies with renewable energy mandates, Ohio will have to demonstrate a commitment to creating an environment where clean energy technology is welcome and thrives."