US retailer Lowe's to install rooftop solar at 174 sites

US home improvements retailer Lowe's Companies Inc (NYSE:LOW) said today it will install solar panels on the roofs of 174 store and distribution centre locations across California, Illinois and New Jersey.

The number includes 20 operational sites in New Jersey. These were delivered via a partnership with Infiniti Energy. A further six Lowe's stores in the state will start generating solar energy later in 2023.

In partnership with DSD Renewables, Lowe's will also install panels at 55 stores in California as well as 36 stores and three distribution centres in Illinois. All these projects are expected to start construction by the end of the year.

Together with a third company, Greenskies Clean Focus, the retailer will equip with solar installations 52 stores and two distribution centres in California. The sites should begin construction later in 2023.

Lowe's, which operates over 1,700 stores in the US, said the investment in the initial rooftop solar portfolio will help it reach its goals of having its operations powered with 50% renewable energy by 2030 and achieving net-zero greenhouse gas emissions by 2050.

"Investing in renewable energy lowers operating costs and is an important step in reducing emissions associated with our stores and distribution centres," said Chris Cassell, Lowe's vice president of corporate sustainability.

When completed the solar arrays will meet about 90% of the energy demand at each location.

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