JCPenney Co. Inc. plans to install solar and wind power projects that will supply electricity to 10 stores and one distribution center. According to the company, the pilot projects represent the next step for JCPenney in its efforts to leverage new technologies and engage its 155,000 associates in innovative energy programs. In conjunction with these initiatives, JCPenney also announced plans to obtain ENERGY STAR certification for at least 200 stores.
JCPenney has engaged SunPower Corp. to install solar power systems on 10 JCPenney stores in California and New Jersey. Producing more than 4 MW of clean electric power, the systems will help avoid emissions of approximately 146,000 tons of carbon dioxide over their 30-year expected lifetime, which is equal to the annual greenhouse gas emissions generated by more than 800 cars.
The solar systems will be financed, owned and operated by a third-party financier, from which JCPenney will purchase the solar-generated electricity under a SunPower Access power purchase agreement. The rooftop installations, expected to be complete in November, will provide immediate savings through lower-than-utility solar energy costs and a long-term energy hedge for nearly 25% of the energy used at the stores.
SOURCE: J.C. Penney Co. Inc.