Panasonic has been touting its eco-minded efforts for quite some time now, but it's gone one step further at the currently-happening Fortune Brainstorm Green Conference. The company has announced the formation of a new Eco Solutions business unit, which will be focused on "end-to-end energy solutions" for the United States and Canada. Things remain a bit vague beyond that, but the company will apparently help design, implement and finance various renewable and energy efficient projects, and Panasonic hopes that the new unit will help it become "the leader in green innovation in the electronics industry by 2018." It does have one firm commitment to get things started though; the new division has partnered with the Denver-based Renewable Social Benefit Funds to develop commercial-scale solar projects in North America -- something Panasonic itself already has a fair bit of experience with.
Company Aims at End-to-End Energy Solutions in U.S. and Canada, Aligns With Renewable Social Benefit Funds to Drive Renewable Energy
LAGUNA NIGUEL, Calif., April 17, 2012 /PRNewswire/ -- FORTUNE BRAINSTORM GREEN CONFERENCE -- Today at the FORTUNE Brainstorm Green Conference, Panasonic announced the establishment of Panasonic Eco Solutions North America, a new business unit of Panasonic Corporation of North America that will focus on the design, implementation and financing of renewable energy and energy efficiency projects in the U.S. and Canada. The new unit also made public a strategic alliance with Denver, CO-based Renewable Social Benefit Funds, L3C (RSB Funds) to provide development and financing capabilities to organizations interested in solar photovoltaic solutions.
"Panasonic Corporation (NYSE: PC) is committed to becoming the leader in green innovation in the electronics industry by 2018, and the launch of this company will take us one step closer to achieving that goal," explained Jim Doyle, President, Panasonic Eco Solutions North America. "With a focus on the long term, Panasonic recognizes that saving, generating and storing energy are fundamental needs that require practical solutions both now and moving forward. Panasonic has a broad range of technologies from solar panels, to lighting controls, to high-capacity energy storage batteries to create solutions."
Panasonic Eco Solutions North America will provide comprehensive renewable energy and energy efficiency solutions to corporate and public sector organizations from the planning and engineering stages through implementation, construction and permanent financing, as well as ongoing system maintenance.
Among Panasonic's accomplishments in the field is a major renewable energy installation at Infineon Raceway in Sonoma, CA, which uses more than 1600 Panasonic HIT solar panels and related technologies. The high-efficiency solar panels cover 41-percent of the track's energy usage, making Infineon one of the world's most energy-efficient raceways. More recently, Panasonic completed a solar panel system installation at Safeco Field, the home of the Seattle Mariners.
Panasonic Eco Solutions North America has established an exclusive relationship through the end of 2012 with RSB Funds for the co-development of commercial-scale solar projects in North America. The two will work together to provide financing, building and maintenance of commercial solar PV projects for the private sector as well as nonprofits, municipalities, hospitals, schools, low-income housing projects and other tax-exempt entities.
The first Panasonic-RSB Funds collaboration was the creation of a 115 Kilowatt solar power generation installation on the corporate campus of the Conrad N. Hilton Foundation in Agoura Hills, CA.
"As a company that aims to help enable a sustainable future, Panasonic is delighted to be working with RSB Funds," continued Doyle. "They have a great record of achievement in making the benefits of solar power available to non-profits and other similar organizations."
Panasonic is a bronze-level sponsor of the three-day FORTUNE Brainstorm Green Conference in Laguna Niguel, CA, April 16-18. Learn more about Panasonic's commitment to sustainability and our energy solutions business by visiting www.panasonic.net/eco.
About Panasonic Corporation of North America
Based in Secaucus, NJ, Panasonic Corporation of North America provides a broad line of digital and other electronics products and services for consumer, business and industrial use. The company is the principal North American subsidiary of Osaka, Japan-based Panasonic Corporation (NYSE: PC), and the hub of Panasonic's U.S. branding, marketing, sales, service and R&D operations. Panasonic was the only Consumer Electronics brand to be listed in the top ten brands on the Interbrand Best Global Green Brands 2011 ranking (http://www.interbrand.com/en/best-global-brands/Best-Global-Green-Brands/2011-Report/BestGlobalGreenBrandsTable-2011.aspx).
As part of its continuing efforts to reduce its carbon footprint, Panasonic Corporation of North America will relocate its operations to a new eco-efficient office tower adjacent to a mass transit hub in Newark, NJ in 2013. Information about Panasonic Eco Ideas initiatives is available at http://panasonic.net/eco/ecoideas/. Information about Panasonic and its products is available at www.panasonic.com. Additional company information for journalists is also available at www.panasonic.com/pressroom.
Renewable Social Benefit Funds, L3C
Renewable Social Benefit Funds (RSB Funds) is an alternative energy company focused on bringing solar power to nonprofits, municipalities, hospitals, schools, low-income housing projects and other tax-exempt entities. RSB Funds develops solar projects for its clients that require no initial investment, provide the best-in-breed operation and maintenance, and always reduce energy costs so that savings can be used to support mission-critical programs.