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Publish Date : 14-Feb-2017

Parcel giant UPS recently has made an announcement on its multi-million-dollar worth of strategy for the expansion of its utilization of solar energy across its worldwide facilities.

The shipping company has planned to boost its use by almost five times in the current year covering its 2,580 facilities throughout the world with almost $18 million in investment.

The company's nearly $18 million worth of solar energy expansion initiative will involve the procurement of 26,000 solar panels.

Fortune 500 companies have set a focused goal of expanding their utilization of renewable energy, and over 50% of them, as early as 2014, have jointly achieved $1.1 billion in savings in power costs through renewable energy program launches, revealed a report.

UPS started solar power development in the year 2004 at its Californian facility in Palm Springs, and after that, the shipping firm has established solar systems at its sites in Lakewood, Parsippany and Secaucus, N.J.

According to the company, it has made over $750 million in investments since 2009 in the alternative-fuel and advanced-technology vehicles and in fueling stations across the world. The firm had revealed in 2014 that its renewable energy program has facilitated almost $200 million in savings.

The individual solar energy generation capacity of UPS, upon the installation of the new solar system, will be augmented by 10MW, a five-fold increase from its existing capacity, and this will be an adequate amount of electricity to meet annual power needs almost 1,200 homes in the US.

The company has revealed that the widened portfolio of solar power is anticipated to help in reduction of carbon emissions by around 8,200 metric tonnes per annum.

In a statement, the UPS Director (Facilities Procurement) Bill Moir disclosed, "Solar technology is a proven way to effectively and efficiently provide long-term power to our facilities.

Moir added, "We have a significant number of facilities that are well positioned to deploy solar at scale and increase our sustainable energy options for our buildings and electric vehicles."

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