Meta Platforms Inc. continues to lead as the top corporate solar user in the United States, with nearly 5.2 gigawatts (GW) of solar capacity, according to the Solar Energy Industries Association's (SEIA) latest “Solar Means Business” report. The report, released today, reveals that Meta, Google, and Amazon.com Inc. have added the most solar to their power portfolios in the first quarter of 2024, securing large pipelines of new solar projects under contract.
These technology giants have become major players in the solar sector, primarily driven by the increasing energy demands of their expanding data centers. Amazon leads the way with 13.6 GW of solar procurements under contract, while Meta and Google each have nearly 6 GW under contract, marking a significant portion of the total solar capacity being committed by US businesses.
Other companies, including General Motors, Toyota, and US Steel, have also been expanding their solar footprints, ranking among the top 10 companies for new solar contracts. As of the first quarter of 2024, US businesses have installed nearly 40 GW of both onsite and off-site solar capacity, with corporate storage use surpassing 1.8 GWh, SEIA reported.
In terms of onsite solar, Target retains its position as the largest corporate user, followed by companies like Prologis, Walmart, Amazon, and Blackstone. Notably, this year's report introduces data on corporate use of battery energy storage, with Google topping the list with 936 megawatt-hours (MWh) of installed capacity. Apple, Meta, and retailers such as Target, Walmart, Home Depot, and Kohl's are also among the top 10 battery users. Kaiser Permanente has also been utilizing energy storage to power microgrids at its medical centers, enhancing resilience during power outages.
Most companies surveyed for the report cited the Inflation Reduction Act's long-term clean energy incentives as a key factor driving their increased investment in renewable energy. Moving forward, businesses are optimistic about policy reforms such as interconnection improvements, community solar legislation, and simplified tax credit monetization, which could further accelerate solar and storage investments.
