Ashley Furniture Industries invests $29 Million in solar energy
Ashley Furniture Industries, Inc. has selected ten of its largest U.S. facilities to receive solar installations this year as part of phase one of their new initiative.
The company has committed to a multi-phase effort to reduce their energy footprint, according to a news release.
Phase one of the project will be a $29 million investment for Ashley. By installing solar, the company expects to offset its electrical energy needs by 35% using clean energy from the sun.
“We need a lot of energy to manufacture our products and it only makes sense to use renewable sources,” said Ron Wanek, Founder and Chairman, Ashley Furniture Industries, Inc. “This is a long-term investment, not only for Ashley, but for our environment. We are taking proactive steps and hope to see others in our industry join us.”
Ashley anticipates a cost savings of more than $5 million in the first year, with potential for
even greater annual savings as energy prices continue to increase over time.
“Saving on energy costs will allow us to further invest in our employees and facilities, pass cost savings on to our customers, and give back to the community. These solar panels are just one more example of Ashley’s sustainability in the global marketplace and in our local communities,” said Todd Wanek, President and CEO, of Ashley Furniture Industries, Inc.
Other Ashley solar project sites include three locations in California as well as Florida, Mississippi, North Carolina, Pennsylvania, Texas and Ashley’s advanced manufacturing headquarters in Arcadia, Wisconsin. All projects in this first phase are expected to be completed by the first quarter of 2020.
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