Porsche signs 25-year solar energy deal

Apparently, solar power is hot right now.

Porsche said Monday that it plans to build and operate a solar power microgrid at its U.S. headquarters in Atlanta, reducing its annual carbon emissions by 3.2 million pounds. The news came days after Ford announced what it called the largest-ever renewable energy purchase from a utility in the U.S., to power its electricity supply in Michigan with renewable energy.

The installation of Porsche’s microgrid, an on-site electrical network that harnesses power from solar panels, will begin in September and conclude in 2023. The renewable energy project is part of a $50 million development at the Porsche Experience Center campus in Atlanta.

Porsche’s 25-year operating agreement with Cherry Street Energy, the largest non-utility provider of solar energy in Georgia, will power Porsche’s on-site fleet of Taycan EVs, among other applications. The energy company will own, operate and maintain the microgrid, selling the power to Porsche.

Both Ford and Porsche said the energy will accelerate their sustainability goals over the next decade. Porsche said in a statement that the energy from solar panels will provide “a significant portion of annual electricity needs.”

Porsche aims to become carbon neutral across its operations by 2030. Ford has set a target to power all of its global facilities with renewable energy by 2035 and go carbon neutral by 2050.