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ImaginIt bringing solar power to Walgreens
Wednesday January 11, 12:36 pm ET
Walgreen Co. and ImaginIt Inc., a solar energy consulting company based in Denver, will install solar electric systems in 96 Walgreens stores and two distribution centers in California and 16 stores in New Jersey -- the largest solar energy project ever done in the United States.
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The new systems will generate more than 13.8 million kilowatt-hours per year. The first systems are expected to be operational in early 2006.
Walgreens (NYSE: WAG, NASDAQ: WAG) is based in Deerfield, Ill.
"This is an unprecedented environmental initiative," said ImaginIt president Patrina Eiffert, in a statement. "Walgreens is demonstrating a level of social responsibility that could make a significant difference for our future."
Solar roof tiles will enable each store or distribution center to generate between 20 percent and 50 percent of its own electricity on site. The stores will host solar electric systems that will replace energy equivalent to more than 22 million gallons of gas and avoid hundreds of tons of carbon dioxide emissions comparable to growing more than 5 million tree seedlings, the companies said in the announcement.
"Climate change, air pollution and depletion of natural resources are some of the most significant environmental problems facing the world today," said Tom Bergseth, divisional vice president of facilities, planning and design for Walgreens, in a statement. "We're excited about implementing this progressive approach toward using clean, renewable energy to benefit the communities we serve."
Walgreen Co. is the nation's largest drugstore chain with fiscal 2005 sales of $42.2 billion. The company operates 5,080 stores in 45 states and Puerto Rico.
ImaginIt Inc. was founded in October 2000 by Eiffert, an award-winning energy expert recognized as a pioneer in the field of commercializing photovoltaics (PV) in the built environment.
Four percent of ImaginIt's profits from this project will fund "ImaginIt Now," a 501(c)(3) non-profit organization dedicated to providing solar electric systems to rural health clinics in developing countries currently operating without electricity.
Published January 11, 2006 by The Denver Business Journal |
