JP Morgan Chase & Co. Is turning the parking lot at the McCoy Center in Polaris into a huge solar farm. We plan to do the same at other Columbus offices.
The bank, which is the largest private employer in the Columbus region and has about 20,000 workers here, has added solar arrays to three other commercial sites in the Columbus region (Vision Drive, Morse Crossing and Westerville). intend to do something. Similar to the Polaris Project, panels have been added to the site’s carport.
Tyler Deaton, Vice President of Chase’s Global Real Estate Group, which focuses on sustainability, said:
Polaris panels, coupled with previously roof-mounted solar panels Chase, will meet 75% of the electricity demand of the McCoy Center, which is said to be the largest single-user office building in the United States in operation. After the Pentagon.
All projects together provide enough electricity to meet half the electricity demand of the bank’s Columbus commercial business.
The size of the project at the McCoy Center reflects the size of the building.
The McCoy Center is Chase’s largest building in the world and accommodates 10,000 workers. This 2 million square foot building is the same square foot as the Empire State Building.
Completed later this year, the project will consist of approximately 40,000 panels covering approximately 165,000 square feet.
The panels are about 20 to 25 feet off the ground and provide a canopy for most of the parking lot with 9,000 spots by the time the work is completed.
The· business According to Chase, is the second largest commercial office solar facility in the world. The only large is Apple’s headquarters in Cupertino, California.
The panel produces 14.8 megawatts of electricity, enough to run more than 1,000 homes. The other three sites together generate about 13 megawatts of electricity.
Chase has installed solar panels in other offices across the country, but Chase’s presence here makes Columbus stand out.
The work Chase is doing is part of a wide range of efforts by technology companies, retailers and other companies to invest in clean energy to tackle climate change.
In 2019, companies installed more than 1,280 MW of commercial photovoltaic capacity, according to a report released last fall by the Solar Energy Industries Association. Corporate adoption of solar has grown rapidly over the past few years, with two-thirds of its total capacity installed since 2015.
“The world’s most famous brands are making progress in their commitment to clean energy,” SEIA President and CEO Abigail Ross Hopper said in a report. “Companies are choosing solar energy because they can significantly reduce energy costs and add predictability during these uncertain times. Companies are committed to clean energy to combat the climate crisis. As we do and do so, the enterprise sector expects to increase its investment in solar power. “
Other banks behave like Chase.
Cincinnati-based Fifth Third Bank said in January that it had achieved carbon neutrality in its 2020 business, including greenhouse gas emissions from facilities and business trips.
Banks say this was achieved by reducing corporate carbon dioxide emissions, purchasing renewable energy, and using carbon offsets from retail carbon dioxide emissions projects for the remaining emissions. Said.
“Achieving carbon neutrality as the first regional commercial bank based in the United States is environmental sustainability in the financial services industry,” Fifth Third Chairman and CEO Greg Carmichael said in a statement. It demonstrates Fifth Third’s clear commitment to leadership. ” “By achieving and maintaining carbon neutrality, our business minimizes its environmental impact and benefits all stakeholders.”
Huntington Bancshares has pledged to install solar arrays in its Easton offices to reduce greenhouse gas emissions by 31% between 2017 and 2027.
Chase Push is part of the bank’s efforts to help clients reach the climatic goals of the Paris Agreement.
Last month, banks funded more than $ 2.5 trillion (including $ 1 trillion for green activities) over a decade to address climate change and promote long-term solutions that contribute to sustainable development. We have set funding and promotion goals.
Based on the 2017 baseline, banks have set a 2030 goal of reducing greenhouse gas emissions from building, branch and data center operations by 40%.
Chase’s Deaton said sustainability issues were just beginning to gain momentum when he first engaged in commercial real estate.
“It has grown beyond my dream of being a pillar of all industries, not just the real estate industry,” he said. “This is what every company is focusing on.”