News Center - Verizon Corporate
July 2, 2014 - News Article

6 Key Reasons Why Investing in Solar Makes Sense

Author: Sandra Arnette
Responsibility, Local
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When Verizon made its $100 million investment last year in onsite green energy, the company knew it would be money well spent. After all, this investment would generate more than 90 million kilowatt hours of clean fuel cell and renewable solar power at nearly 20 Verizon facilities in six states – Maryland included.

6 Reasons for Solar Investments

  1. It’s renewable since sunlight is a consistent power source, which means it always will be available.
  2. Annual returns from green and renewable energy range anywhere from 5 percent to 30 percent, and the system will function for 20 to 40 years with little to no need for upgrades or additional investment.
  3. Solar cells don’t release gases or anything else into the air, which makes solar energy environmentally friendly.
  4. Solar panels are extremely reliable, with no moving parts that require replacement.
  5. Solar cells collect energy quietly, unlike other renewable energy sources.
  6. In the long run, renewable energy is not only great for the environment, but also for the bottom line and is low-risk, considering it always will reduce energy costs for the lifespan of the system. 

Verizon’s Chesapeake Complex in Silver Spring, Maryland, contains the company’s largest renewable solar energy system built to date. The system, which began operating earlier this year, has more than 5,500 solar panels and is expected to produce over 2.4 million kilowatt hours of electricity annually – enough to power 226 homes for one year. This will offset 1,729 metric tons of CO2, which is equal to the annual greenhouse gas emissions of 364 passenger cars. This is just one way Verizon is showing its commitment to green energy and making a difference.

“Technologies like solar, wind, geothermal, gas turbines and fuel cells provide significant advantages for businesses,” said James Gowen, Verizon’s chief sustainability officer. “Globally, we are constantly looking for innovations to harness energy without pollution.”

Last May, Montgomery County Executive Isiah “Ike” Leggett and other county officials visited the Chesapeake Complex to see firsthand what Verizon is doing to support green energy and technology investment.

There is no contradiction between a sound environment and strong economic growth, and Verizon’s commitment to sustainability is evidence that good environmental strategy equals good business strategy,” Leggett said during his visit. “Montgomery County applauds Verizon’s efforts and looks forward to our long, continued partnership.”

Tags: sustainability

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