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Apple's Investment in Solar Energy

Apple's Investment in Solar Energy

In May of this year, the internet giant Google invested $12 million in the Jasper Power Project - a solar farm that is being constructed in the Northern Cape Province of South Africa - as part of their Google Green project. Less than two months later, another heavy weight in technology has jumped in: Apple is making investments in solar energy. 

CBS News reported today (3 June) that Apple is to build a new solar farm, which will provide the power for their newest data centre located in Nevada, in the United States. Partnering with Apple in this new venture is a company called NV Energy, and the project is set to hit the $1 billion mark.

Upon completion, the solar farm will be producing 43.5 million kilowatt hours of power annually, according to CBS. That is enough energy to carry the nearby Sierra Pacific Power's electric grid. 

This is good news for the company and its investors, seeing as Apple scored a  in Greenpeace's 2012 renewable energy grading. At the time, Apple promised a change in its ways and a number of environmentally friendly centres have since popped up. The newest statement from the company now stands as follows: All of Apple's data centres use 100 percent renewable energy and we are on track to meet that goal in our new Reno data centre using the latest in high-efficiency concentrating solar panels.

To put the magnitude of Apple's investments in solar energy into perspective; the company estimates that it will be saving so much in fossil fuel that it would be equivalent to taking 6,400 vehicles off the road each year. That is a big difference. If you are also keen on investing in solar energy you should know that the investment experts at CTFM are ready to help you make the right investment. 

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