Wells Fargo: Solar Energy for Los Angeles Branches (a)

Abstract

In the first case of a two-part series, a strategic finance manager at Wells Fargo with experience installing solar panel systems on bank branches crunches the numbers for a similar project in the Los Angeles area given the uncertain future of a government rebate. Excerpt UVA-QA-0800 Rev. Nov. 1, 2016 Wells Fargo: Solar Energy for Los Angeles Branches (A) In August 2011, Sheri Lucas, vice president and strategic finance manager at Wells Fargo & Company (Wells Fargo), needed to decide whether to install solar panels at three branches in the Los Angeles area. She had led a similar installation project in Denver, but the current decision was made more difficult by the uncertain future of a government rebate. Background In February 2010, under Lucas's leadership and as a kickoff to the Wells Fargo–Wachovia merger, Wells Fargo installed solar (photovoltaic, or PV) systems at 10 Denver metro branches, the company's first such use of solar energy. The initiative was successful both in economic terms—the panels supplied about 20% of the branches' electricity—and public relations terms, earning Lucas (then Sheri Elbert) a full page in Wells Fargo's annual report. . . .