The commercial real estate industry has continued its commitment to environmental sustainability even amid the challenging economic climate, but some real estate owners and managers are more steadfast than others. This is especially true when it comes to incorporating solar installations at their properties. In an inaugural research report, Black Bear Energy identifies the top 20 commercial real estate companies that have deployed onsite solar across their portfolios. Whether they place the solar arrays on rooftops, in parking lots, or on neighboring vacant land parcels, owners and developers of buildings of various property types are increasingly relying on solar power for energy needs and practicing what they preach on the topic of sustainability.
Prologis, the leading provider of logistics properties around the world, tops the list with an installed capacity totaling 217.4 megawatts (MW) across its vast portfolio. Alternative asset manager Blackstone, the largest owner of commercial real estate globally, took third place on the list with a total installed capacity of just over 98.5 MW. Brookfield Properties Retail Real Estate Group led the retail sector with 59.5 MW installed capacity and AvalonBay Communities surpassed all other multifamily property owners, logging a total 8.3 MW of installed capacity. And in the office sector, where solar panels often compete with gardens and cafes for rooftop square footage, Kilroy took the lead, boasting a portfolio of properties with a total installed capacity of approximately 6.1MW. If these large, well-capitalized companies can prove the viability and investor appetite for solar generation at buildings, it could help push smaller landlords to follow suit.