• 6 minutes WTI @ 67.50, charts show $62.50 next
  • 11 minutes Saudi Fund Wants to Take Tesla Private?
  • 17 minutes Why hydrogen economics is does not work
  • 4 hours Starvation, horror in Venezuela
  • 3 mins The EU Loses The Principles On Which It Was Built
  • 39 mins Desperate Call or... Erdogan Says Turkey Will Boycott U.S. Electronics
  • 3 hours Crude Price going to $62.50
  • 4 hours WSJ *still* refuses to acknowledge U.S. Shale Oil industry's horrible economics and debts
  • 20 hours Anyone Worried About the Lira Dragging EVERYTHING Else Down?
  • 13 hours Chinese EV Startup Nio Files for $1.8 billion IPO
  • 24 hours Oil prices---Tug of War: Sanctions vs. Trade War
  • 1 day Correlation does not equal causation, but they do tend to tango on occasion
  • 1 day WTI @ 69.33 headed for $70s - $80s end of August
  • 24 hours Russia retaliate: Our Response to U.S. Sanctions Will Be Precise And Painful
  • 1 day California Solar Mandate Based on False Facts
  • 1 day Monsanto hit by $289 Million for cancerous weedkiller
Alt Text

Can Volkswagen Compete With Tesla?

In Volkswagen’s annual shareholder meeting,…

Alt Text

Are Bionic Cells The Future Of Solar?

Scientists from the University of…

Alt Text

The Electric Truck Revolution Is About To Accelerate

Cargo transport companies have begun…

Jen Alic

Jen Alic

 

More Info

Trending Discussions

Verizon Prepares for $100m Renewable Energy Investment

Verizon Prepares for $100m Renewable Energy Investment

Verizon Communications Inc. (VZ) will spend $100 million to green up its facilities with solar panels and fuel cells, putting it in the big leagues with clean energy followers like Google and Yahoo.

The announcement, on Tuesday, will benefit California-based solar panel developer SunPower Corp. (SPWR), which will supply and install solar panels in over a dozen Verizon facilities across five US states.

The clean energy spending spree will also benefit Oregon-based fuel cell maker ClearEdge Power, which will supply and install hydrogen fuel cells at Verizon facilities in California, New Jersey and New York.

Related article: Could MLP’s be Embraced by the Renewable Energy Sector

Verizon says the $100 million price tag on its clean energy plan makes economic sense in the long run.

"We drive shareholder value, but we're also a good corporate citizen," James Gowen, Verizon’s chief sustainability officer, told Fox News.

By 2014, Verizon is targeting a total of 15 megawatts of clean power a year operating its facilities—or the equivalent of the power necessary for 6,000 average residences. According to the math, this would reduce Verizon’s carbon footprint by about 10,000 metric tons of carbon dioxide annually.

While solar panels will reduce Verizon’s carbon footprint, fuel cells have another added benefit: They can serve as a back-up power plan during outages resulting from extreme weather conditions like Hurricane Sandy.

Related article: Clean Economy Doesn’t Mean Cleaner World

Fuel cells use a chemical reaction to produce electricity and heat. The benefits of fuel cells are that the electricity can be created on site where it is used, and if biofuels are used, then the carbon footprint is further reduced.

This $100 million spending plan would be Verizon’s largest investment in clean energy to date.

By. Jen Alic of Oilprice.com




Back to homepage

Trending Discussions


Leave a comment
  • SA Kiteman on May 02 2013 said:
    For that kind of money, they could develop the Liquid Fluoride Thorium Reactor and truly end the energy issue.

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News