Wednesday, March 27, 2019 10:06 PM

BLUECROSS BLUESHIELD TO INSTALL 10000 SOLAR PANELS TO POWER ...

Tennessee's biggest health insurer is turning to the sun to power its corporate headquarters atop Cameron Hill in Chattanooga. BlueCross BlueShield of Tennessee plans to start installing the first of about 10,000 solar panels next month on top of the company's five major office and parking facilities at its Chattanooga headquarters. The $10 million project will be capable of generating 4.3 megawatts of electricity and will be the second biggest solar array in Chattanooga - behind only the $30 million solar farm installed at the Volkswagen assembly plant in 2012 to generate up to 9.5 megawatts of electricity. BlueCross officials said Wednesday the solar panels will help reduce the company's carbon footprint and, at times, should be sufficient to generate all of the energy needs for the company's main office. But beyond the environmental reasons, BlueCross said the declining costs and improved efficiency of solar panels, combined with the 30 percent federal investment tax credit for solar installations this year, make solar generation cheaper than purchased electricity. "We expect to save $23 million in energy costs over the projected useful (25-year) life of the solar equipment," said John Giblin, executive vice president and chief financial officer for BlueCross. "This long-term ...

News source: GOOGLE NEWS

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