Prologis has increased its solar generating capacity by 91% from the year 2011 until 2015. They control 149 megawatts of solar generating capacity and anticipate to have 200 megawatts by 2020.
Their decision to invest in solar was financially motivated as it is the company’s way to generate more revenue from underused rooftops.
Close to three quarters of the company’s entire portfolio uses energy efficient lighting. Prologis ranks second in terms of solar capacity by the Solar Energy Industries Association.
Prologis is a real estate investment trust with $64 billion in assets under management and a market capitalization of $28 billion. The company controls 149 megawatts of solar generating capacity atop its global portfolio of warehouses and industrial facilities.
That’s double the amount that it had at the end of 2011.
A ranking tallied earlier this year by the Solar Energy Industries Association places Prologis second only to Walmart in terms of capacity. Prologis, doesn’t use all that much power in its buildings, compared with commercial offices or retail space.
The company views this as one way to generate more revenue from underused rooftops according to the VP of global sustainability for Prologis.
The amount of power that Prologis isn’t huge, but the company figures it adds enough power to the North American grid each year to power 11,218 homes. The projects are managed by Prologis Energy, which partners with utilities, developers and financing organizations.
Locations are picked depending on a variety of factors including the quality of the solar resources at the site, the state or municipal incentives offered in a given geography and the age and condition of the roof involved. That latter consideration is a huge one: Solar panels are weighty.
Prologis replaces the roofs on its facilities roughly every 20 years, so it’s a long cycle of renewal.
Most of Prologis’ solar sites can be found in the United States, with the rest split between locations in Europe and Asia. The company doesn’t disclose what percentage of its buildings are solar hosts because the size of its portfolio grows and shrinks regularly with acquisition activity.