10/20/2014 06:26 pm ET Updated Oct 20, 2014

Patagonia To Pay For Homeowners' Solar Panels In Hawaii

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Patagonia plans to use state and federal tax credits to invest $13 million in the construction of solar panels on 1,000 homes in Hawaii, turning the eco-conscious retailer into the financial backer of a green electrical utility.

With the announcement on Wednesday, Patagonia hopes companies across America will follow suit with similar efforts. “Any U.S. public or private company who pays their fair share of taxes can use this strategy to speed up the development of new energy infrastructure,” Rose Marcario, Patagonia’s chief executive, said in an interview. “And they can make money doing it and create jobs.”

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