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Large Retailers Install Solar Roof Panels Several large retail chains are installing solar panels on store roofs, hoping to complete projects in advance of a Dec. 31 deadline that offsets their costs with tax incentives.
Whole Foods Market, Macy’s, Safeway, Wal-Mart, REI and Kohl’s are among the retailers tapping this new energy source, along with the tax benefits that accompany it. Though most chains have outfitted fewer than 10 percent of their stores, the continuation of favorable tax provisions in Congress and at the state level will eventually see panels installed at most stores throughout the country.
As green energy becomes a priority for more consumers, many predict retailers will respond with installations that improve their energy “profile.”
Solar panels can generate between ten and 40 percent of a store’s power needs, depending on its location and weather—this means that if lots of stores install such panels, total electricity consumption could be reduced slightly.
But solar components, already a costly energy source to install, are climbing in price as a result of ballooning demand. That demand is largely a result of retailers and other entities betting on emissions curtailment policies that will drive up the cost of power derived from coal and natural gas.
Critical to continued installations is a federal tax credit set to expire Dec. 31 of this year. Its renewal has been held up by Congressional disagreement over offshore oil drilling. Projects not completed by that deadline will not receive tax credits, so many retailers are postponing further investment until the credit provision is renewed.
A system for a store the size of Wal-Mart can cost between $4 and $6 million, which makes tax credits or else third-party arrangements with utility companies appealing. Retails are experimenting with a variety of solar panels and technologies, as well as solar water heaters and skylights. Return to September 2008 Western Energy News To sponsor Western Energy News , please contact WEI at 503 231-1994.
Copyright © 2008. Reuse of this publication or its contents is allowed with credit to Western Energy Institute. WEI - 827 NE Oregon Street, Portland, Oregon 97232-2172
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