Walmart Invests in Multi-State Community Solar Portfolio Developed by Solar Landscape
Walmart (NYSE: WMT) has announced an investment in 74 Solar Landscape community solar projects in Maryland and Illinois. The 43 megawatts of commercial rooftop projects are expected to be operational in 2024 and 2025, providing enough power for over 3,600 homes. Approximately half of the portfolio is designed to reduce energy costs for low- and moderate-income households, with an estimated $1 million annual savings for subscribers.
The projects aim to enhance grid infrastructure in densely populated areas, reduce the need for additional transmission, and accelerate clean energy development. Solar Landscape estimates the construction will create about 170 full-time equivalent jobs. Once complete, the portfolio is expected to help avoid emissions of nearly 40,000 tons of carbon dioxide annually.
Walmart (NYSE: WMT) ha annunciato un investimento in 74 progetti di energia solare comunitaria di Solar Landscape nel Maryland e nell'Illinois. I 43 megawatt di progetti commerciali su tetti sono previsti per diventare operativi nel 2024 e nel 2025, fornendo energia sufficiente per oltre 3.600 famiglie. Circa la metà del portafoglio è progettata per ridurre i costi energetici per famiglie a basso e medio reddito, con un risparmio annuale stimato di 1 milione di dollari per gli abbonati.
I progetti mirano a migliorare l'infrastruttura della rete in aree densamente popolate, ridurre la necessità di ulteriori trasmissioni e accelerare lo sviluppo dell'energia pulita. Solar Landscape stima che la costruzione creerà circa 170 posti di lavoro a tempo pieno equivalente. Una volta completato, il portafoglio dovrebbe contribuire ad evitare emissioni di quasi 40.000 tonnellate di anidride carbonica all'anno.
Walmart (NYSE: WMT) ha anunciado una inversión en 74 proyectos de energía solar comunitaria de Solar Landscape en Maryland e Illinois. Se espera que los 43 megavatios de proyectos comerciales en techos estén operativos en 2024 y 2025, proporcionando energía suficiente para más de 3,600 hogares. Aproximadamente la mitad del portafolio está diseñado para reducir los costos de energía para hogares de bajos y medianos ingresos, con un ahorro anual estimado de 1 millón de dólares para los suscriptores.
Los proyectos tienen como objetivo mejorar la infraestructura de la red en áreas densamente pobladas, reducir la necesidad de transmisiones adicionales y acelerar el desarrollo de energía limpia. Solar Landscape estima que la construcción creará alrededor de 170 empleos equivalentes a tiempo completo. Una vez completado, se espera que el portafolio ayude a evitar emisiones de casi 40,000 toneladas de dióxido de carbono anualmente.
월마트(NYSE: WMT)는 메리랜드와 일리노이에 있는 74개의 Solar Landscape 커뮤니티 태양광 프로젝트에 대한 투자를 발표했습니다. 43메가와트의 상업용 옥상 프로젝트는 2024년과 2025년에 가동될 예정이며, 3,600 가구 이상에 충분한 전력을 공급할 것입니다. 포트폴리오의 약 절반은 저소득 및 중간 소득 가정의 에너지 비용을 줄이도록 설계되었으며, 구독자에게는 연간 100만 달러의 절감 효과가 예상됩니다.
이 프로젝트는 인구 밀집 지역의 그리드 인프라를 개선하고, 추가 전송의 필요성을 줄이며, 청정 에너지 개발을 가속화하는 것을 목표로 하고 있습니다. Solar Landscape는 건설 과정에서 약 170개의 정규직 동등 일자리가 창출될 것이라고 추정하고 있습니다. 완료되면 이 포트폴리오는 매년 거의 40,000톤의 이산화탄소 배출을 줄이는 데 기여할 것으로 기대됩니다.
Walmart (NYSE: WMT) a annoncé un investissement dans 74 projets solaires communautaires de Solar Landscape dans le Maryland et l'Illinois. Les 43 mégawatts de projets commerciaux sur les toits devraient être opérationnels en 2024 et 2025, fournissant suffisamment d'énergie pour plus de 3 600 foyers. Environ la moitié du portefeuille est conçue pour réduire les coûts énergétiques des ménages à faible et moyen revenu, avec une économie annuelle estimée à 1 million de dollars pour les abonnés.
Les projets visent à améliorer l'infrastructure du réseau dans les zones densément peuplées, à réduire le besoin de transmissions supplémentaires et à accélérer le développement des énergies renouvelables. Solar Landscape estime que la construction créera environ 170 emplois équivalents temps plein. Une fois achevé, le portefeuille devrait contribuer à éviter des émissions de près de 40 000 tonnes de dioxyde de carbone par an.
Walmart (NYSE: WMT) hat eine Investition in 74 Solar Landscape Gemeinschaftssolarprojekte in Maryland und Illinois angekündigt. Die 43 Megawatt an kommerziellen Dachprojekten sollen 2024 und 2025 in Betrieb genommen werden und genug Energie für über 3.600 Haushalte liefern. Etwa die Hälfte des Portfolios ist darauf ausgelegt, die Energiekosten für Haushalte mit niedrigem und mittlerem Einkommen zu senken, mit geschätzten 1 Million Dollar jährlichen Einsparungen für die Abonnenten.
Die Projekte zielen darauf ab, die Netzinfra-struktur in dicht besiedelten Gebieten zu verbessern, den Bedarf an zusätzlichen Übertragungen zu reduzieren und die Entwicklung erneuerbarer Energien zu beschleunigen. Solar Landscape schätzt, dass der Bau etwa 170 Vollzeitäquivalente Arbeitsplätze schaffen wird. Nach ihrer Fertigstellung wird das Portfolio voraussichtlich helfen, jährlich fast 40.000 Tonnen Kohlendioxid-Emissionen zu vermeiden.
- Investment in 74 community solar projects across Maryland and Illinois
- 43 megawatts of solar capacity to power equivalent of 3,600 homes
- Estimated $1 million annual savings for subscribers on energy bills
- Creation of approximately 170 full-time equivalent jobs
- Reduction of nearly 40,000 tons of carbon dioxide emissions annually
- None.
Insights
Walmart's investment in Solar Landscape's community solar projects demonstrates a strategic move towards sustainable energy and cost reduction. The 43 MW portfolio across Maryland and Illinois is expected to generate $1 million in annual energy bill savings for subscribers, with half benefiting low- and moderate-income households. This initiative aligns with Walmart's corporate social responsibility goals and could potentially improve its ESG profile.
From an investor perspective, while the immediate financial impact on Walmart's
The partnership with Solar Landscape also opens doors for future renewable energy investments, indicating a strategic long-term approach to energy management. This could lead to significant cost savings and risk mitigation against future energy price volatility, positively impacting Walmart's bottom line in the long run.
This investment marks a significant step in corporate-driven community solar initiatives. The 43 MW portfolio will avoid emissions of 40,000 tons of CO2 annually, equivalent to 40 million pounds of coal burned. This substantial environmental impact enhances Walmart's green credentials and contributes to its sustainability goals.
The project's focus on commercial rooftops in densely populated areas is particularly noteworthy. This approach maximizes existing infrastructure, avoiding land use conflicts often associated with ground-mounted solar farms. It also addresses the challenge of power generation in urban "load pockets," potentially reducing transmission losses and improving overall grid efficiency.
The creation of approximately 170 full-time equivalent jobs in solar installation demonstrates the economic co-benefits of such initiatives. This aligns with the growing trend of coupling environmental sustainability with job creation in the renewable energy sector, potentially boosting local economies where Walmart operates.
43 Megawatts of Commercial Rooftop Projects in
Expected to Reduce Energy Costs for Over 3,600 Households
Walmart Invests in Multi-State Community Solar Portfolio Developed by Solar Landscape: 43 Megawatts of Commercial Rooftop Projects in
The commercial rooftop projects are currently under construction and expected to energize in 2024 and 2025. They will create nearly 43 megawatts (DC) of solar capacity for the surrounding communities, enough power to serve the equivalent of over 3,600 homes.
Approximately half of the portfolio is designed to reduce energy costs for low- and moderate-income (LMI) households. In total, Solar Landscape estimates that the projects will save subscribers about
“Our investment in this community solar portfolio is aligned with our purpose to help people save money and live better,” said Frank Palladino, Vice President, Renewable Energy Strategy for Walmart. “Once operational, these projects will enhance grid infrastructure in dozens of communities in
By placing community solar projects on commercial rooftops in densely populated areas, known as load pockets, where it can be difficult to generate new power using traditional means, the portfolio will add significant value to the electrical grid. This reduces the need for additional transmission, furthers equity in the clean energy transition, and accelerates development.
“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,” said Clayton Avent, CFO of Solar Landscape. “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.”
Solar Landscape and Walmart plan to explore follow-on investments and opportunities to achieve shared goals in the domestic community solar space.
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.
The investment will also help create new local jobs. Solar Landscape estimates that the construction of 43 MW of commercial rooftop capacity requires approximately 342,000 person-hours of installation time, equivalent to more than 170 full-time jobs if done in a single year.
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
About Solar Landscape
Solar Landscape is the leading commercial and community solar developer in
View source version on businesswire.com: https://www.businesswire.com/news/home/20241008748531/en/
Brendon Shank, 202-256-2083 brendon@solarlandscape.com
Alanna Papetti, 908-268-3345 alanna@solarlandscape.com
Source: Solar Landscape
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