UPS to spend $18M to install 26,000 new solar panels

UPS plans to expand its use of solar energy nearly five-fold this year, by adding 26,000 solar panels to its 2,580 facilities throughout the world.

The renewable energy expansion project will cost the shipping firm about $18 million; it will begin with at least eight buildings in the U.S.

Increasing the use of renewable energy has become a targeted goal of Fortune 500 companies, and with good reason. As early as 2014, more than half of Fortune 100 companies collectively saved $1.1 billion in energy costs by rolling out renewable energy programs, according to a study.

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