« Back to Home Page

Sign up for the 3p daily dispatch:

BP Solar Lights the Way for Entire Company

| Friday May 27th, 2005 | 3 Comments

bp.jpgWhat’s a major oil company to do when faced with an evolving market moving steadily toward a renewable energy future? While some oil companies might stick their heads in the sand (literally in the case of Alberta), farsighted companies might rebrand themselves as “energy” companies and begin large scale investments in non-oil based energy sources.
British Petroleum, now known as Beyond Petroleum is now one of the world’s largest producers of solar energy. Leading the way in a market that grew 40% last year, BP’s solar division is keeping the company viable and competitive as oil begins its inevitable decline. Full article on LOHAS journal.


Newsletter Signup
  • http://www.makower.com Joel Makower

    Let’s be very clear: BP is still overwhelmingly an oil company. For starters, it is not “now known as Beyond Petroleum” — that moniker is merely a marketing tagline, not the company’s name.
    And the renewables component of BP’s revenue is tiny. BP made just under 6% of its revenue from what it calls “gas, power, and renewables” — a category that includes the marketing and trading of liqud natural gas (LNG), along with the operation of LNG terminals and other facilities.
    Which is not to say BP doesn’t deserve credit for its solar operations — it does. But it’s critical that we look past the hype and keep things in perspective.

  • http://www.thoughtsonthings.com Nick

    Thanks Joel, I didn’t realize it was that miniscule. I myself get a little caught in the hype sometimes. It’s a heck of a good marketing campaign, and I try not to be cynical. Even if they exaggerate their efforts, sending the message to the public that “solar is cool” and we’ll all soon have little personal wind turbines on our houses (or something like that) gives people the expectation that it’s coming some day. This *might* help a lot of other business eventually.

  • Peter Abah

    I am really glad that BP has taken an initiative to join other companies in a rewenable energy source. I have started solar energy business and have undertaken initiative both in the US and developing countries promoting the essence of renewable energy.