Lowe's Invests in Renewable Energy with Rooftop Solar Panel Installations at 174 Locations as Part of Net-Zero Target
Partnerships with DSD Renewables, Greenskies Clean Focus and Infiniti Energy will also contribute to Lowe’s goal of reaching 50% renewable energy for its facilities by 2030
MOORESVILLE, N.C., April 19, 2023 /PRNewswire/ – In line with its goal to reach net-zero greenhouse gas emissions by 2050, Lowe’s today announced details of rooftop solar panel installations at 174 store and distribution center locations nationwide, including 20 sites currently in operation. Once each site is completed, the solar panels will provide approximately 90% of the energy usage at each location.
Through partnerships with DSD Renewables (DSD), Greenskies Clean Focus and Infiniti Energy, Lowe’s rooftop solar panel installations span locations throughout California, Illinois and New Jersey. These investments will help Lowe’s reduce its operational emissions and reach its goal of having its operations powered with 50% renewable energy by 2030.
“At Lowe’s, we are focused on operating responsibly and reducing our impact on the environment," said Chris Cassell, Lowe's vice president of corporate sustainability. “Investing in renewable energy lowers operating costs and is an important step in reducing emissions associated with our stores and distribution centers. This initial rooftop solar portfolio is one example of the collaboration we seek with partners as we work toward our long-term and interim net-zero goals.”
The rooftop solar portfolio of 174 locations includes:
- 20 stores in New Jersey that are currently operational through Infiniti Energy. Panel installations at six additional Lowe’s stores in the state are in development and scheduled to be operational later this year.
- 55 stores in California as well as 36 stores and three distribution centers in Illinois planned in partnership with DSD. Construction is expected to begin at all sites by the end of 2023.
- 52 stores and two distribution centers in California, in partnership with Greenskies Clean Focus, scheduled to begin construction later this year.
This investment in rooftop solar panels builds on Lowe's recent sustainability progress, including achieving its 2025 goal of reducing scope 1 and scope 2 greenhouse gas emissions by 40% – relative to 2016 emissions levels – four years early.
To learn more about corporate responsibility at Lowe's and read updates on its sustainability initiatives, please visit responsibility.lowes.com.
Lowe’s Companies, Inc. (NYSE: LOW) is a FORTUNE® 50 home improvement company serving approximately 17 million customer transactions a week in the U.S. With total fiscal year 2022 sales of over $97 billion, approximately $92 billion of sales were generated in the U.S., where Lowe’s operates over 1,700 home improvement stores and employs approximately 300,000 associates. Based in Mooresville, N.C., Lowe's supports the communities it serves through programs focused on creating safe, affordable housing and helping to develop the next generation of skilled trade experts. For more information, visit Lowes.com.
Disclosure Regarding Forward-Looking Statements
Included herein are forward-looking statements, including statements with respect to the achievement of future goals. There are many factors that affect management’s views about future events and trends of the business and operations of the company, all as more thoroughly described in the company’s filings with the Securities and Exchange Commission. The company does not undertake any obligation to update forward-looking information included in this release or any of its public filings.