SM EXPANDS SOLAR PORTFOLIO FOR GREENER MALLS
The clamor for alternative, cleaner sources of energy such as solar remains just as aggressive today, if not stronger, than a decade ago.
This time, however, it’s no longer just the solar companies nor the government alone that have the bravado to showcase the potentially huge benefits of harnessing solar power, despite receiving the most flak among the other renewable energy sources.
Benefits
Small households wanting to make a difference and to save in the long run, as well as the large businesses who recognize the need for more sustainable and environment-friendly energy sources are the latest advocates of solar power, which has since gained significant ground due to a number of reasons.
It is believed that harnessing solar energy will help combat greenhouse gas emissions and thus help mitigate climate change; reduce the country’s dependence on oil and fossil fuels, whose global prices can be highly volatile; and will likewise help bring the country closer to its goals for energy independence.
Apart from its contribution to the environment and the country’s energy supply, solar power’s growing popularity can also be attributed to the fact that the cost of solar panels and its installation had considerably dropped in recent years.
In fact, the Rotterdam-based consultancy firm, Solarplaza, claimed that as of June 2017, the Philippines’ solar power installed capacity already stood at about 900 megawatts (MW).
Leading by example
In the Philippines, property giant SM Prime Holdings, Inc. has been leading the way by example through the installation of solar panels in its malls. This pioneering move was not only meant to promote the concept of eco-friendly shopping in the country, but to also help reduce the company’s carbon footprint.
So far, the SM Group has installed in eight malls with 28,009 solar panels which can generate an estimated 7.9 megawatts ( MW) to power a portion of their electricity requirements. This kind of capacity will be enough to fully charge some 1.2 million cellphones, or light up 790,000 10-watt LED lamps, or run 263,000 30-watt electric fans, or provide power to almost 5,300 households.
More specifically, solar panels were installed in SM City North Edsa, SM Mall of Asia, SM City Cauayan, SM City Cabanatuan, SM City Iloilo, SM Center Tuguegarao Downtown, SM City Trece Martires, and SM Seaside City Cebu.
Growth catalyst
Hans Sy, SMPrime Holdings, Inc. Chairman of the Executive Committee, explains “this milestone on green energy projects reaffirms the company’s commitment to its role as a catalyst for economic growth, delivering innovative and sustainable lifestyle cities that enrich the quality of life of millions.”
These solar projects formed part of the company’s many other green initiatives as SM Prime goes beyond mall development and management, integrating environmental sustainability into its operations to support communities for a better tomorrow.
“SM Prime has always been committed to reduce greenhouse emissions and maximize energy efficiency in our malls. This is just one of the many renewable projects we have been doing and we will continue with finding ways on how to make our operations more environmentally sound and sustainable,” said Sy during the Memorandum of Agreement signing ceremony between SM Prime and Solar Philippines when the project was launched in 2014.
It can be recalled that SM Prime first ventured into renewable energy then with the launch of its first solar project in the Philippines at SM City North Edsa—the first mall in the country to promote solar power.
While the solar facilities at SM North can generate 1.5 MW or only 5 percent of the mall’s electricity requirements, this was expected to save SM Prime as much as P2 million in power costs every month and offset 1,200 tons of carbon dioxide emissions, equivalent to planting about 6,000 trees a year.
Helping SM Prime achieve its energy sustainability goals is Solar Philippines, headed by its founder Leandro Leviste. Solar Philippines, reportedly Southeast Asia’s largest solar company, has a solar panel factory in Batangas that can produce 2.5 million panels a year. The said panels are to be exported to the United States and Europe.
Indeed, these solar projects are just some of the company’s sustainability initiatives that will surely create shared value not only for the SM malls, but also for their host and surrounding communities.
Other measures
SM Prime’s other programs include SM’s Trash to Cash recycling markets in SM malls, water recycling for non- potable use, and integration of transport terminals in malls to mitigate traffic and ParkFinders for cleaner air.
With disaster resilience now becoming a crucial component of sustainability, SM has also been constructing malls with water catchment basins to help manage floodprone areas, as well as rallying support from private and private sectors for programs or initiatives on disaster risk resilience, such the National Resilience Council and the annual Top Leaders Forum.