U.S. Companies Are Getting Hip to Solar
A growing number of U.S. companies are installing solar-power systems at their facilities, driven at least in part by government tax credits and incentives that make solar more financially attractive. Johnson & Johnson, for example, has built a large solar installation on the roof of a major facility in Titusville, N.J.; as one of the largest solar installations on the East Coast, it can produce 500 kilowatts of energy, enough to power about 500 homes. “[N]ew incentive programs made the project financially neutral, and we felt it was the best time to jump in and do something good for the environment,” said John Subacus of Johnson & Johnson’s Janssen Pharmaceutica Products unit. Lowe’s, Toyota, BJ’s Wholesale Club, and a number of other companies have made similar solar forays. Many of the solar-power systems they install will pay for themselves within 10 years and then produce essentially free electricity for 15 or more years.
