Macy's Goes Green In California

Macy's today announced it will install solar power systems and significantly reduce energy consumption in 26 stores throughout California in partnership with SunPower Corporation (Nasdaq: SPWR), a Silicon Valley-based manufacturer of high-efficiency, commercially available solar cells, solar panels and solar systems.

SunPower’s subsidiary PowerLight will install PowerGuard® rooftop solar power systems under contracts totaling 8 megawatts on Macy’s stores. “The move to solar shows Macy’s commitment to using cleaner technologies, and in doing so we will reduce energy demand,” says Macy’s, Inc. Vice Chair Tom Cole. “We are proud to join the fight against greenhouse gas emissions in California because we believe a successful business is dependent on a healthy environment.” PowerLight will also assist Macy’s in improving the energy efficiency of the 26 California stores. Combining solar power with efficiency will allow Macy’s to achieve an estimated 40% reduction in utility-provided energy, almost doubling the impact of the solar power alone. “By combining energy efficiency with solar power, Macy’s is taking the extra step to cut our peak load demand,” Cole said.

Energy efficiency upgrades will include high-efficiency lighting and HVAC systems and energy management systems. The solar systems, combined with the energy efficiency upgrades, are expected to offset 24 million kilowatt hours of energy consumption annually.

For 15 of the 26 stores, Macy’s will purchase solar-generated electricity under the SunPower Access™ program, a solar services agreement that allows the retailer to purchase just the electricity generated at its stores – not the solar power systems themselves — from a third-party financier. At the end of a 10-year term, Macy’s will have the option to renew the agreement, transfer the equipment to a new site, or buy the system. Macy’s will buy solar power systems for the remaining 11 stores through an outright system purchase. “SunPower Access is an easy, affordable way for forward-thinking companies to benefit from the use of clean, renewable solar power,” says Chief Executive Officer of SunPower Tom Werner. “With this move to combine energy efficiency upgrades with a very significant commitment to solar power, Macy’s is wisely capturing the extra environmental benefits while also improving their financial returns.