ATLANTA, Nov. 30,
2022 /PRNewswire/ -- The Home Depot announced that
100 MW of solar energy purchased from National Grid Renewables at
its solar and storage project in Denton
County, Texas (known as Noble) will generate the approximate
equivalent of nearly eight percent of The Home Depot's total
electricity usage. The solar farm is National Grid Renewables'
largest solar energy project to date, and its first utility-scale
energy storage project.
The Home Depot has pledged to produce or procure 100% renewable
electricity equivalent to the electricity needs for all Home Depot
facilities by 2030, expanding the company's previous commitment to
produce or procure 335 megawatts of renewable or alternative energy
by 2025.
"Solar energy is the most abundant energy resource on earth,"
said Ron Jarvis, chief
sustainability officer for The Home Depot. "With this purchase, we
are getting a step closer to our goal to produce or procure 100%
renewable electricity equivalent to the needs of our facilities. We
anticipate about three-quarters of our alternative and renewable
energy capacity will come from solar energy by the end of
2023."
Noble is a 275 megawatt (MW) solar and 125 megawatt hour (MWh)
energy storage project located in the Electric Reliability Council
of Texas (ERCOT). Noble is
projected to avoid 450,000 metric tons of carbon dioxide emissions
annually during operation.
The Home Depot is reducing its carbon footprint by improving the
efficiency of the company's operations and investing in alternative
energy solutions. Since 2010, The Home Depot has reduced
electricity consumption in its U.S. stores by 50 percent
and currently operates rooftop solar farms on more than 80 stores
and electricity-generating fuel cells in more than 200 stores.
The Home Depot currently purchases solar power from a 75 MW
facility and is under contract for another 50 MW of solar
capacity. The company also purchases energy from a 50 MW wind
facility. The Home Depot expects the combined annual renewable
energy generation from these agreements would be enough to power
more than 500 stores.
For more information about how The Home Depot is doing its part
to operate sustainably,
visit corporate.homedepot.com.
About The Home Depot
The Home Depot is the world's largest home improvement specialty
retailer. At the end of the third quarter of fiscal year 2022, the
company operated a total of 2,319 retail stores in all 50 states,
the District of Columbia,
Puerto Rico, the U.S. Virgin Islands, Guam, 10 Canadian provinces and Mexico. The company employs approximately
500,000 associates. The Home Depot's stock is traded on the
New York Stock Exchange (NYSE: HD) and is included in the Dow Jones
industrial average and Standard & Poor's 500 index. The Home
Depot is #17 on the 2022 Fortune 500.
About National Grid Renewables
National Grid
Renewables develops and operates large-scale renewable energy
assets across the United States,
including solar, wind, and energy storage. As a farmer-friendly and
community-focused business, National Grid Renewables repowers
America's electricity grid by reigniting local economies and
reinvesting in a sustainable, clean energy future. National Grid
Renewables supports National Grid's vision of being at the heart of
a clean, fair, and affordable energy future for all. To learn more
about National Grid Renewables, visit
www.nationalgridrenewables.com or follow the company on Twitter or
LinkedIn.
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SOURCE The Home Depot