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Verizon boosts renewable energy investment to $140 million

<p>SunPower&#39;s custom systems for various sites will boost Verizon into the top 10 U.S. companies for solar capacity.</p>

Many companies no longer see renewable energy as "nice to do," but rather as part of business strategy. In Verizon's case, it raises shareholder value.

After announcing a $100 million investment to run facilities on solar and fuel cells last year, Verizon is spending $40 million more on solar systems in 2014.

Eight facilities in California, Maryland, Massachusetts, New Jersey and New York are getting a combined 10.2 megawatts (MW) after adding 14.2 MW of solar and fuel cells in 2013.

When the 25 MW is installed, Verizon will lead the telecommunications industry and be among the top 10 U.S. corporations for solar capacity. Its goal is to cut carbon intensity (carbon emissions produced per terabyte of data flowing through its U.S. and global networks) in half by 2020.

Solar power can improve networks

Besides reducing carbon emissions, Verizon points to solar's ability to reduce strains on commercial power grids and improve resiliency of services, especially during power outages — all of which improves shareholder value.

Rather than purchasing the energy or signing lease agreements, Verizon owns the on-site solar and fuel cell systems. SunPower is designing and installing rooftop, ground-mounted and parking canopy solar systems that vary based on the site.

Verizon — the largest wireless carrier in the U.S. — is also working with DOE's National Renewable Energy Lab energy efficiency, energy management and smart grid technologies; and is developing smart grid offerings, such as cloud-based meter data management for the utility industry and smart phone controls on home appliances.

Its industry is among the most energy intensive — consuming 3 percent of U.S. electricity and about 2.5 percent of global greenhouse gas emissions, according to the International Telecommunications Union. Because of industry growth, emissions could rise to a 4 percent share if it doesn't vastly increase efficiency by 2020, said GreenTouch.

GreenTouch

A consortium of leading companies, academic and non-profits formed GreenTouch to "fundamentally transform communications and data networks, including the Internet, and significantly reducing the carbon footprint of ICT devices, platforms and networks."

In other words, they plan to overhaul the industry for energy efficiency. Its goal: by next year, deliver the architecture, specifications and technologies — and demonstrate key components — needed to increase network energy efficiency by a factor of 1,000 compared to 2010 levels.

Top image of Verizon sign by Mike Mozart via Flickr. This article first appeared at SustainableBusiness.com.

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