Energy Storage, Commercial, Finance, Solar - April 24, 2017
Macy's touts new rooftop solar, storage projects
Photo of the 2.25-MW solar system on the Macy’s and Bloomingdale's Fulfillment Center in Joppa, Md., provided by Macy's.
Macy's Inc. has completed the installation of 21 solar energy projects over the past year at Macy's and Bloomingdale's locations across seven states.
The projects collectively total 15 MW of power, and add to the nearly 24 MW of rooftop solar the retailer has had in operation since 2007, Macy's said in an April 21 news release. The electricity generated by the systems will ultimately be sold to other entities; the majority of the projects on its stores were financed with power purchase agreements, allowing Macy's to buy power at competitive rates that act as a hedge against future utility rate increases with no upfront capital cost.
About 70% of the 102 solar power systems in the Macy's and Bloomingdale's renewable energy portfolio feature SunPower's high efficiency technology. Macy's does not own the renewable energy credits associated with most of the SunPower solar energy systems installed on its facilities.
In 2016, Macy's ranked fourth among corporations nationwide for installed solar according to Solar Energy Industries Association.
"As a leading national retailer with 140,000 dedicated associates, we have the opportunity to make a meaningful difference in improving the environment," Chuck Abt, senior vice president of operations for Macy's Inc. said in a statement. "Working with SunPower, we have been able to maximize the value of unused roof areas at our stores and fulfillment centers across the country by deploying the company's high efficiency solar technology that creates more energy in less space."
In addition to solar systems, SunPower also provided Macy's with battery storage systems at three stores in Southern California, according to the release. The energy storage technology is expected to help those locations further manage energy costs by offsetting demand charges incurred by commercial customers.