GM currently saves $5 million annually from using renewable energy and it expects this number will increase as more projects come online and the supply of renewable energy increases. In addition, the company expects costs to install and produce renewable energy will continue to decrease, resulting in more bottom-line returns.
“Establishing a 100 percent renewable energy goal helps us better serve society by reducing environmental impact,” said GM chairman and CEO Mary Barra.
GM says using renewable energy over the past 20 years has saved the company $80 million to date. The company has 22 facilities with solar arrays, three sites using landfill gas and four that will soon use wind power.
This new renewable energy goal, along with its focus on electric vehicles and efficient manufacturing, is part of GM’s overall approach to strengthening its business, improving communities and addressing climate change. GM is also joining RE100, a global collaborative initiative of businesses committed to 100 percent renewable electricity, working to increase demand for clean power.