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Bank Of America Launches On-Site Solar Initiative

Bank of America plans to install more than 60 new on-site solar installations over the next three years.

The addition of solar power at financial centers, ATMs, office locations and other operational buildings will reduce energy costs and greenhouse-gas (GHG) emissions, the bank says. The program is expected to generate more than 25 MW of renewable electricity, which will directly power the bank’s operations with clean energy.

“Low-carbon energy programs like this demonstrate how Bank of America is working to meet our goal to use 100 percent renewable electricity by adding new solar sources and energy options to our operational footprint,” says Tom Scrivener, global real estate and enterprise initiatives executive at Bank of America. “The on-site solar initiative is a critical component that will directly offset the bank’s energy use and lower energy costs, resulting in an estimated savings of $50 million over 25 years.”

Six financial centers in California, Florida and Pennsylvania and two office locations in Nevada and North Carolina are already benefiting from on-site solar.

The company’s total sourcing of renewable electricity in 2018 was 1.8 million MWh, amounting to 91% of its global energy use – the equivalent of powering 153,000 homes for one year.

In 2019, the initiative will focus on installing solar panels at select financial centers and community financial centers and on ATMs in Arizona, California, Connecticut, Florida, Illinois, Kansas, Massachusetts, Maryland, Missouri, Nevada, New Jersey, New York, North Carolina, Rhode Island, Texas and Virginia.

In 2020 and 2021, the bank will focus on administrative offices in Arizona, Delaware, Florida, New York, North Carolina, Rhode Island and Texas.

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