Target's logo might be red but the company just got a lot greener thanks to a new agreement the discount retailer with Greenskies Renewable Energy unveiled on March 17. Under the newly signed agreement Target will install solar arrays on the roofs of 180 Target stores and distribution centers across the U.S.—by the end of 2016.
In doing so Target joins a growing number of retail entities like Walmart, IKEA and Kohls that have added in significant amounts of solar energy across their enterprises. In fact, according to last year’s Solar Means Business report from the Solar Energy Industries Association Walmart led the nation with 105 megawatts of solar installed at its locations, up from 89.43 megawatts the year before.
Last year Target had 14.9 megawatts of solar power installed. Under the new agreement with Greenskies, it will have 180 more solar installations that will produce roughly 100 megawatts of electric energy. The new arrays will provide between 20 and 30 percent of the total electricity requirements of the buildings they’re on.
Once completed Target will have solar on 238 retail outlets and distribution centers across 15 states producing 122 megawatts of electricity. That would place it neck and neck with Walmart and likely ahead of Kohl’s which had 50.2 megawatts of solar in last year’s ranking.
“Through Target’s investment in renewables, we have expanded geographic and cost competitive opportunities for clean energy,” said David Hughes, senior group manager, energy management for Target. “Our new goal to build 500 solar sites by 2020 shows how renewable energy is an integral part of our energy strategy.”
Greenskies will start installing solar at Target sites in Arizona, Maryland and New York in Spring 2015. Under the contract it will also install solar at Target sites in California, Maine, Michigan, New Hampshire, Pennsylvania, Rhode Island, South Carolina, Texas and Wisconsin, according to Andrew Chester, Greenskies' executive vice-president.
Though the 20-year power-purchase agreement was signed in mid-February some details weren’t announced until yesterday. The retail store will purchase 100 percent of the electricity produced at each site a fixed and discounted rate for duration of the PPAs, according to Greenskies.Tweet