Tech and Retail Giants Lead Record-Breaking Solar and Energy Storage Investments
WASHINGTON, D.C. — In a groundbreaking shift toward clean energy, major players in the tech, retail, and manufacturing industries are driving record-level investments in solar and energy storage systems. According to the Solar Energy Industries Association’s (SEIA) Solar Means Business report, companies have installed nearly 40 gigawatts (GW) of solar capacity through Q1 2024, with total corporate energy storage surpassing 1.8 gigawatt-hours (GWh).
Meta and Google Take the Lead
Leading the charge is Meta, maintaining its position as the top corporate solar user with nearly 5.2 GW of installed capacity. Meanwhile, Google has emerged as the frontrunner in energy storage, boasting 936 megawatt-hours (MWh) of battery capacity. Alongside Amazon, these tech giants have secured the largest solar procurement pipelines, collectively powering their operations with massive renewable energy portfolios.
“Adding new solar energy to the grid is a critical part of our strategy,” said Carolyn Campbell, Head of Clean and Renewable Energy at Meta. “We’re proud to rank first in corporate solar procurement and continue working toward our goal of matching global operations with 100% clean energy.”
Retail and Manufacturing Sectors Shine
Retailers like Target, Walmart, and Home Depot have also embraced solar energy at scale. Target, now in its ninth consecutive year as the top onsite corporate solar user, highlighted its commitment to achieving 100% renewable energy sourcing by 2030.
Manufacturers such as General Motors, Toyota, and U.S. Steel have followed suit, ranking among the top ten companies with new solar contracts. Their investments in clean energy signal a broader trend of renewable adoption in traditionally energy-intensive sectors.
Technology Firms Dominate Solar Expansion
As demand for electricity skyrockets due to data center growth, technology companies have emerged as dominant players in the solar market. Amazon leads the nation with an astonishing 13.6 GW of solar procurements under contract, while Meta and Google follow closely with nearly 6 GW each.
These numbers are over ten times larger than the solar portfolios of other companies in the rankings, cementing the tech industry’s position as a clean energy trailblazer.
Growing Trends in Energy Storage
For the first time, the Solar Means Business report tracks corporate energy storage use. Companies like Google, Apple, and Meta are leveraging batteries to manage real-time power needs, while major retailers such as Walmart and Target are pairing storage solutions with solar installations.
Additionally, leaders in the healthcare industry, including Kaiser Permanente, are adopting battery-powered microgrids to enhance energy resilience during outages. SEIA President Abigail Ross Hopper emphasized the growing appeal of these technologies, stating:
“Some of the largest industrial and data operations in the world are turning to solar and storage as a reliable, low-cost way to power their operations.”
Policy and Future Outlook
The report highlights the Inflation Reduction Act as a critical driver of corporate renewable energy investments. Long-term clean energy incentives have spurred companies to expand their solar and storage portfolios. Looking ahead, businesses are calling for simplified tax credit monetization, interconnection reforms, and community solar legislation to further accelerate adoption.
Industry Voices
“Target’s long-term investments in clean energy are driving value for our communities and shareholders,” said Erin Tyler, Vice President of Property Management at Target Corporation.
Aaron Binkley, Vice President of Sustainability at Digital Realty, added, “This recognition in SEIA’s report reflects our commitment to building a cleaner, more sustainable future.”
As businesses across the United States continue to adopt solar and storage at unprecedented levels, the path toward a greener, more resilient energy future appears brighter than ever.
Source: Solar Energy Industries Association’s Solar Means Business Report
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