DuPont targets 10% more profit through Solar Energy by 2010
While looking for viable solutions to energy consumption and ongoing company costs, DuPont, one of the worlds leading companies in electronics and technology, has decided to look no further than its own products, enter Dupont Photovoltaics
Solar energy has been around for years, but recently, DuPont has made it a commercial goal by the year 2010 to satisfy at least 10% of the company’s ongoing electricity bills with renewable energy sources, among which solar energy is a big one.
Since March 2nd of 2006 the Chestnut Run DuPont facility in Delaware has been running roughly 10% of its own energy consumption off of a solar powered system that produces some 40 kilowatts of electricity alone.
Chestnut Run is one of DuPont’s R&D buildings, 178,000 square feet of office in Delaware using enough energy to power 80 homes. This would be a very large monthly expenditure for Delaware’s Energy Office.
The cost of the recently installed solar energy panels was $500,000 of which the DEO will grant DuPont with $250,000 to help cover about half the cost. In the end, the DEO saves money on expensive plants that they might have to build otherwise to cover the growing consumption in Delaware.
DuPont’s entrepreneurial spirit, to invest in renewable energy, is part of a corporate strategy to help make products like solar energy more commercially viable to the everyday consumer.
Of the annual $28.5 billion in revenue that DuPont makes currently, one third comes strictly from products less than five years old, their goal by 2010, however bold it may seem, is to make 35% of yearly revenue come from products less than four years old.
By capitalizing on such issues as “energy hikes” at strategic moments, like the one in Delaware, which will go from 8 cents per kilowatt-hour to 15 cents on May 1st, DuPont is able to make a statement in the market.
DuPont doesn’t just make an appearance in the commercial market with this, as both the industry and in the State Department’s Office begin to see the potential for renewable alternatives every time something like this happens.
Currently, DuPont worldwide gets 5% of its energy from renewable sources such as solar energy and has put down a budget of $100 million over the next two years to take that to 10% like the Chestnut Run office in Delaware. All willing, they will pave the way for common folks who have the will, but not the money for solar energy.