Home improvement retailer The Home Depot has bought 100 MW of solar energy from National Grid Renewables that will generate sufficient energy to cover approximately 8% of the firm’s total electricity usage.
The solar power is purchased from National Grid Renewables’ largest solar energy project and first utility-scale energy storage project. The 275 MW solar and 125 MWh storage project, called Noble, is situated in Denton County, Texas, and is expected to avoid 450,000 metric tons of CO2 emissions annually during operation.
The latest purchase aligns with the retailer’s target to produce or procure 100% renewable electricity equivalent to the electricity needs for all Home Depot facilities by 2030. The Home Depot will invest in alternative energy solutions and improve the efficiency of its operations.
Many companies which sign renewable energy power purchase agreements (PPAs) do not receive that carbon-free electricity directly. Instead, it helps fund investment in clean energy projects and off-sets the customer’s energy use.
"Solar energy is the most abundant energy resource on earth," said Ron Jarvis, chief sustainability officer for The Home Depot. "With this purchase, we are getting a step closer to our goal to produce or procure 100% renewable electricity equivalent to the needs of our facilities. We anticipate about three-quarters of our alternative and renewable energy capacity will come from solar energy by the end of 2023."
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The Home Depot also is embracing energy efficiency and demand reduction initiatives. The chain has already reduced electricity consumptions at its U.S. stores by 50% from 2010 levels.
It has rooftop solar farms at more than 80 stores and electricity-generating fuel-cells at more than 200 stores. It purchases power from a 75 MW solar facility and a 50 MW wind facility. It has a contract for another 50 MW of solar capacity.
The energy purchased under these contracts is expected to be sufficient to power over 500 stores.
