Intel Increases Renewable Energy Credit Purchase by 10%
Intel Corporation (Nasdaq:INTC) is already recognized as a global leader in the use of renewable energy and was recently named the 2009 largest voluntary purchaser of green power by the Environmental Protection Agency (EPA).
However, these accolades have not prevented Intel making more green moves: recently the company revealed that new contracts are in place to incorporate approximately 2.5 megawatts worth of new solar power projectsat eight U.S. locations in Arizona, California, New Mexico and Oregon.In addition, Intel has renewed and increased by 10 percent its purchasecommitments for renewable energy credits (RECs) to more than 1.43billion kilowatt hours.
RECs are the "currency" of renewable energy markets, and Intel’slatest renewable energy credit purchases equate to approximately 51percent of Intel’s estimated U.S. electricity needs for 2010. Thiscorresponds to the carbon dioxide emissions from the electricity use ofnearly 134,000 average American homes or nearly 200,000 passenger carsremoved from the streets for one year.
These commitments reflect Intel’s continued focus on energyefficiency and conservation programs that will help achieve its 2012goals related to water use, global-warming emissions, energyconsumption, waste reduction and product energy efficiency. Intel alsohopes to inspire more demand for and cost-effective supply of solar andother renewable energies. Since 2001, the company has invested morethan $30 million in and saved more than 650 million kilowatt hours fromenergy conservation and efficiency initiatives.
"Intel is committed to renewable energy to reduce our own carbonfootprint as well as to spur the market and make renewables moreeconomically feasible for individuals and businesses to deploy," saidBrian Krzanich, vice president and general manager of Manufacturing andSupply Chain for Intel. "These announcements represent our broadercommitment which includes diversifying our energy portfolio throughsolar and other clean energy investments, and this will continue to bea priority for us around the globe."
Intel’s new solar installations are planned to be completed over thenext 7 months. Each project would currently rank as one of the 10largest solar installations in its respective region. All of the solarpanels will be installed on the roofs of Intel’s facilities, except thelargest installation, an approximately 1-megawatt solar field inFolsom, California. The Folsom installation will span nearly six acresof land on campus, which would make it one of the largest non-utilityground-mounts in California. All of the installations will use thepower generated at their respective site
As a result of Intel’s continued commitment to purchase RECs, the EPA again placed Intel at the top of its latest Green Power Partner List for 2010. Intel was previously honored with the EPA’s Green Power Partner of the Year Award.
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