Corporate America is investing in clean energy at unprecedented levels, with tech giants spearheading solar and energy storage adoption. According to the Solar Energy Industries Association’s (SEIA’s) latest Solar Means Business Report, Meta, Google, and Amazon are at the forefront of this transformation.
Tech Giants Drive Solar and Storage Growth
Meta remains the top corporate solar user in the United States, with nearly 5.2 gigawatts (GW) of installed solar capacity. Google leads the energy storage sector with 936 megawatt-hours (MWh) of deployed battery storage. In Q1 2024 alone, Meta, Google, and Amazon added the most solar capacity to their energy portfolios, while traditional industrial players like General Motors, Toyota, and US Steel also climbed the rankings.
The report highlights that U.S. businesses have installed nearly 40 GW of solar capacity both onsite and offsite as of Q1 2024. Additionally, corporate energy storage use has exceeded 1.8 gigawatt-hours (GWh), with over 3 GWh of new battery storage projects under contract and expected to come online in the next five years.
“Some of the largest industrial and data operations in the world continue turning to solar and storage as reliable, low-cost energy solutions,” said Abigail Ross Hopper, SEIA’s president and CEO.
Data Center Growth Fuels Solar Expansion
Technology companies are leading this shift as data center expansion drives soaring electricity demand. Amazon tops the U.S. solar procurement rankings with 13.6 GW under contract. Meta and Google follow closely, each with nearly 6 GW of solar projects in their pipelines—more than 10 times the capacity of the next-ranking company.
For onsite solar installations, Target remains the leader for the ninth consecutive year. Other top companies include Prologis, Walmart, Amazon, and Blackstone. This year’s Solar Means Business Report also introduces corporate battery energy storage rankings. Google, Apple, Meta, Target, and Walmart are among the top adopters using batteries to meet more of their energy needs in real-time.
Policy Support and Future Outlook
Looking ahead, both offsite and onsite energy storage will play an increasingly important role in corporate renewable energy strategies. Companies like Kaiser Permanente are already using batteries to power microgrids, enhancing resilience against outages.
Carolyn Campbell, Meta’s head of clean and renewable energy for East operations, stated: “We’re thrilled to rank number one for corporate solar procurement in SEIA’s report this year, and we continue to explore ways to grow the grid to benefit everyone.”
Erin Tyler, Target’s vice president of property management, noted the company’s commitment to clean energy: “Through our 20-year solar program, we’re well on track to achieve our corporate goal of sourcing 100% renewable electricity by 2030.”
The report also emphasizes the role of policies like the Inflation Reduction Act in accelerating corporate clean energy investments. Businesses are advocating for streamlined interconnection processes, new community solar legislation, and simpler tax credit monetization to further boost their renewable energy initiatives.
With technology companies leading the charge and supportive policies in place, corporate America is poised for continued growth in clean energy adoption, reshaping the future of sustainable business practices.
