Walmart plans to invest in 74 community solar projects developed by Solar Landscape in Maryland and Illinois.
Takeaway Points
- Walmart to Invest in 74 Community Solar Projects Developed by Solar Landscape
- The commercial rooftop projects are under construction and are expected to be energized in 2024 and 2025.
- The investment will also help create new local jobs.
Walmart Invests in Community Solar Projects
Solar Landscape, a leading commercial and community solar developer, and Walmart on Wednesday announced that Walmart will invest in 74 Solar Landscape community solar projects in Maryland and Illinois.
The commercial rooftop projects are under construction and are expected to be energized in 2024 and 2025 and will create nearly 43 megawatts (DC) of solar capacity for the surrounding communities, enough power to serve the equivalent of over 3,600 homes, the company said.
Frank Palladino, Vice President, Renewable Energy Strategy for Walmart, said, “Our investment in this community solar portfolio is aligned with our purpose to help people save money and live better. Once operational, these projects will enhance grid infrastructure in dozens of communities in Maryland and Illinois, while expanding access to affordable clean energy and helping thousands of households save money on energy bills.”
Clayton Avent, CFO of Solar Landscape, commented, “Walmart’s investment into this community solar portfolio is an important first step in our relationship together and a catalyst for our mission to make solar more accessible and affordable across the country. Developing community solar projects on commercial rooftops is the quickest and most efficient way to bring electricity savings to communities. We look forward to increasing access to solar and creating savings for residents surrounding the projects in this portfolio.”
The Benefits of the Investment
The company said that half of the portfolio is designed to reduce energy costs for low- and moderate-income (LMI) households and estimated that the projects will save subscribers about $1 million annually on energy bills.
Once complete, the 43 MW (DC) portfolio will help avoid the emissions of nearly 40,000 tons of carbon dioxide annually, equal to almost 40 million pounds of coal burned, according to the EPA, and will also help create new local jobs.
About Solar Landscape
Solar Landscape is the leading commercial and community solar developer in the United States. The company partners with the world’s largest real estate companies to develop, install, and operate solar projects on commercial and industrial rooftops. Through the groundbreaking community solar model, households in surrounding communities can subscribe to receive solar power at a guaranteed discount. Solar Landscape has deployed more than 500 megawatts of renewable energy projects – totaling over $1 billion in capital investment – and leased 100 million square feet of commercial rooftops. The company was named the #1 Distributed Generation developer for 2023 by New Project Media and was awarded the U.S. Department of Energy’s Equitable Community Solar Grand Prize.
About Walmart
Walmart Inc. (NYSE: WMT) is a people-led, tech-powered omnichannel retailer helping people save money and live better — anytime and anywhere — in stores, online, and through their mobile devices. Each week, approximately 255 million customers and members visit more than 10,500 stores and numerous eCommerce websites in 19 countries. With fiscal year 2024 revenue of $648 billion, Walmart employs approximately 2.1 million associates worldwide. Walmart continues to be a leader in sustainability, corporate philanthropy, and employment opportunity.
