Amazon said that it 'proactively powered off our onsite solar installations in North America' after a recent string of costly fires at warehouses.
Circle Squared Alternative Investments' Jeff Sica discusses the importance of Amazon earnings, the upcoming GDP report and Treasury Secretary Yellen admitting to an economic slowdown in the U.S.and other facilities forced the e-commerce giant to temporarily shut down rooftop solar panels that were blamed for the costly blazes.
"Out of an abundance of caution, following a small number of isolated incidents with onsite solar systems owned and operated by third parties, Amazon proactively powered off ourin North America, and took immediate steps to re-inspect each installation by a leading solar technical expert firm," an Amazon spokesperson told Fox Business on Sunday.
According to internal documents obtained by CNBC, which originally reported the news, Amazon experienced "critical fire or arc flash events" at six sites in North America with solar installations, representing about 12.7% of all applicable facilities. "The rate of dangerous incidents is unacceptable, and above industry averages," an Amazon employee wrote in an internal report, according to CNBC.
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