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Energy

Chipotle Goes Partly Solar (CMG)

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Updated Published
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Chipotle Mexican Grill (NYSE: CMG) is trying the solar gimmick, yet this is actually just another step on building upon its social already-respectable image.  This morning the company announced that it is partnering with Houston-based Standard Renewable Energy to install solar panels on about 75 Chipotle restaurants over the next year that will ultimately produce 500 kilowatt hours of electricity.  Chipotle claims that this will make it the largest direct producer of solar energy in the restaurant sector.

The company did note that solar panel installations have already begun in Denver, Austin, Dallas and San Antonio.  This won’t be a system-wide roll-out where solar may be used is based on a formula that includes a restaurant’s electricity consumption, local utility solar rebates, and its access to direct sunlight.

This solar effort, according to the company, is meant to reduce its power consumption during peak hours, and it noted that this will reduce more than 41 million pounds of CO2 emissions.  This is not Chipotle’s first green initiative, as it has used alternative energy and energy efficient power consumption at many restaurants, and the company has demonstrated in many cases how it has some of the cleanest and best quality of ingredients and meats of all fast food companies.

As far as how 75 restaurants compares to its system-wide operations, Chipotle operates nearly 900 stores.

JON C. OGG

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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