United Parcel Service (UPS) has announced it is planning to ‘significantly escalate’ its investment in solar energy in the US.

UPS released a statement today that says the investment in solar will start with the installation of solar panels and energy generation systems at eight of its facilities in the United States. These are set to be completed by the end of the year.

“The estimated $18 million investment will provide a nearly five-fold increase in the amount of power generated from solar at UPS facilities today,” said UPS.

“With more than 2,580 UPS facilities worldwide, UPS is ideally positioned to expand its investment in renewable energy.”

UPS’s investment in solar power began in 2004 in Palm Springs, California. The solar panels at this facility are still generating approximately 110 kilowatts of sustainable energy. Today, UPS also produces solar power at its facilities in Lakewood, Parsippany and Secaucus, N.J.

Popular or not among the powers that be, solar energy generation is falling in price to the point it is becoming very competitive with grid energy. This means that many major companies around the world are investing in it for energy security – a term so often associated before with fossil fuel energy generation. Major players like Tesla are developing energy storage systems that can be scaled up to industrial levels so energy taken from the heat of the day can be used during the evening and night hours too. Given that fossil fuel energy is set to go up in the coming years, UPS move may well be the cheaper option.

 
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