DSD Renewables will work with The Home Depot to install 13 MW of rooftop solar across 25 store locations in California. The installations contribute to The Home Depot’s goal to produce or procure 100% renewable energy by 2030 equivalent to the electricity needs for all its facilities.
“Our teams have worked hand-in-hand to design solar solutions to optimally power the portfolio of 25 stores in California and effectively reduce demand on the grid,” said Jason Chiang, senior director of direct origination at DSD. “We are excited to deploy our industry-leading capabilities across this significant new portfolio and play a role in helping The Home Depot achieve its sustainability goals.”
The portfolio will begin construction in early 2023, and upon completion is expected to generate more than 17 million kWh of clean energy annually that directly power The Home Depot’s store locations within the portfolio.
“Reducing The Home Depot’s environmental impact is essential to our efforts to build a better business, workplace and world,” said Ron Jarvis, VP and chief sustainability officer for The Home Depot. “Harnessing power from the sun is essential to our renewable electricity aims, and we’re happy to work with DSD as we expand our solar program and continue to invest in alternative energy solutions.”
DSD is continuing to work on projects with The Home Depot to broaden its solar energy usage in New Jersey, Connecticut, Maryland and Massachusetts, with additional projects planned in Arizona, California, Illinois and New York.
“This project marks 98 stores that will have deployed solar rooftops with DSD,” said Dan O’Brien, Vice President of Direct Origination at DSD. “The Home Depot shares our commitment to reduce its carbon footprint and we applaud the expansion of its renewable energy program.”
News item from DSD Renewables
California seems to be the target market. In California the so called NEM 3.0 has changed the overall philosophy of solar PV adoption. It might be better for Home Depot to load their roofs with solar PV and take at least 50% or more of that daily generation into a large ESS and use this stored energy during the TOU 4PM to 9PM time each day to save money on electricity rates above and beyond the wholesale energy rate (plus) the so called avoided cost adders above the wholesale energy rate, which for now is decreasing to zero over a period of years. Offsetting that TOU rate spiking during those 5 hours each day could well save Home Depot up to around 50% of its monthly electric bill.
“DSD is continuing to work on projects with The Home Depot to broaden its solar energy usage in New Jersey, Connecticut, Maryland and Massachusetts, with additional projects planned in Arizona, California, Illinois and New York.”
When the local electric utility has retail electricity rates at or over $0.16/kWh, it is time to make these systems solar PV + smart ESS. Some electric utilities already have baked in bundled retail costs like, standby generation fuel charges, emergency demand charges or confirmed TOU (Time of Use) rate spiking each day to grab more revenues from the customers. The emergency charges and TOU charges are where a system that has a 25% daily energy generation solar PV array, can be stored, time shifted and used during these “emergency” or TOU periods to save up to 50% on the monthly electric bill of these big box stores. Allowing some energy to be used to power the building during the solar PV harvest time of day while storing energy for later rate spiking clipping using the cheap stored energy could be more lucrative in the long term.