Walmart announced it will invest in 74 Solar Landscape community solar projects in Maryland and Illinois.
The commercial rooftop projects are currently under construction and are expected to be energized in 2024 and 2025. They will create nearly 43 MWDC 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 $1 million annually on energy bills.
“Our investment in this community solar portfolio is aligned with our purpose to help people save money and live better,” said Frank Palladino, VP of renewable energy strategy for Walmart. “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.”
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.
A Solar Landscape project in New Jersey.
“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.
News item from Solar Landscape