REITs Rank High in Solar Energy Usage

The Solar Energy Industries Association, the national trade association for the solar energy industry, has released its seventh annual Solar Means Business report, showing that REITs are ranked among the top corporate solar energy users in the nation.

Data in the report captures nearly 70% of all U.S. commercial solar capacity through the end of 2018.

Prologis, Inc. (NYSE: PLD) placed seventh on a list of top 10 corporate solar users.

In terms of total installed solar capacity, Prologis ranked eighth, followed by Brookfield Properties’ retail group in 11th place and Digital Realty (NYSE: DLR) in 22nd place.

Turning to installed on-site solar capacity, Prologis ranked third and Brookfield Properties’ retail group followed in sixth place.

The report also ranked companies by the number of solar installations. In this category, Brookfield Properties’ retail group was in seventh place, Prologis was in ninth place, and Extra Space Storage Inc. (NYSE: EXR) was in 10th place.

Meanwhile, a ranking of solar capacity installed by companies in 2018 put Digital Realty in seventh place, Brookfield Properties’ retail group in 10th place, and Prologis in 14th place.

In a ranking of the percentage of U.S. facilities with solar, Brookfield Properties’ retail group ranked third, while Unibail-Rodamco-Westfield (Euronext: URW) was listed in seventh place.

Looking at the top five corporate users by the real estate industry as a whole, Prologis ranked first, Brookfield Properties’ retail group was second, and Unibail-Rodamco-Westfield came in fifth place.

The report notes that it does not capture data on every commercial solar installation in the U.S., but every attempt was made to ensure that the solar portfolios of the U.S.’s largest corporate users are accurately represented.

The Solar Energy Industries Association said 2018 ranks as the second-largest year for commercial solar installations, with more than half of all corporate solar capacity installed in the last three years. Corporate solar deployment is 23 times larger today than it was a decade ago, the report said, with growth led primarily by prices that have fallen 63% in the last decade.

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