iStock
Yet for every company that makes the leap to solar power, there are hundreds of others who can't make the switch. What holds many of these companies back is that going solar is a multi-faceted process involving complex financing, a lot of third-party coordination, and the challenging search for a trusted, credible vendor.
But there's a more affordable and efficient way for businesses to adopt solar energy. Panasonic Eco Solutions has teamed up with financing platform Coronal Group to offer a one-stop shop model for design, payment, delivery, and servicing of solar projects. Coronal provides flexible and customized financing packages, which help companies get their solar efforts off the ground without any large upfront capital investments.
This new integrated model not only provides a high level of support and quality assurance, but it also removes the risks and frustrations of dealing with those different vendors at various stages of the project - which can often lead to delays, missed deadlines, and unexpected costs. Traditionally the burden to coordinate these different teams has fallen to the energy or facilities managers, but through this partnership Panasonic manages and owns the execution and risk.
This latest development in Panasonic's solar offering is a big step toward enabling businesses and communities to power themselves more sustainably. And the timing couldn't be better, with some presidential candidates having big plans for solar power, which would result in an additional 500 million panels installed across the country by 2021.
Panasonic has already worked with numerous businesses to deliver solar solutions that are helping them to cut costs and shrink their carbon footprints. Here are a few examples.
More sustainable shopping malls
One of the first businesses to benefit from this new model is Macerich, a real estate investment trust. It partnered with Panasonic for solar roof installations at 11 shopping centers in Arizona, California, New York, and Connecticut. Combined these buildings can generate up to 10.2 megawatts of clean energy capacity - enough to power about 10,000 homes.
The solar systems for all 11 shopping centers were installed without interrupting retail operations for the tenants or shoppers. Also, there is an added peace of mind for Macerich because Panasonic guaranteed it a servicing and maintenance program for the next two decades.
A major benefit is that the financing side of the project was designed to suit Macerich's individual needs. Panasonic knew from the start when designing its turnkey solar solution that the financial element of the package needed to be flexible. For example, what Macerich needed to successfully finance each of its installations differed from the unique needs of other clients and their facilities, such as schools and sports venues.
Carbon cutting for a car rental company
The Hertz Corporation was looking to install solar energy solutions at four of its locations nationwide. It chose Panasonic based on its long-standing reputation for quality and innovation, as well as the ease of having everything provided in one package.
The first stage of the project involved installing a canopy of 1,106 panels at the Hertz facility at Denver International Airport. Hertz estimates it will offset more than 9 million pounds of carbon dioxide and produce more than 324,000 kilowatts of renewable energy every year. The other projects in the Hertz portfolio include canopy installations at the St. Louis Airport, Newark Liberty International Airport, and JFK International Airport. All of these projects combined are expected to generate approximately 918,000 kilowatt hours of energy in the first year of operation.
The choice to invest in clean, renewable energy systems is one that requires proper financing, as well as a trusted partner who can provide a one-stop shop model. The Macerich and Hertz projects had very different design elements and financing requirements. Yet, what these companies have in common is that they've been able to use Panasonic's ability to provide a turnkey solar solution to economically cut their carbon emissions and energy costs while becoming more sustainable.
This post is sponsored by Panasonic Eco Solutions.
Find out more about Sponsored Content.