Asbury Park, N.J. — Solar Landscape, a leading commercial and community solar developer, has teamed up with Walmart, which plans to invest in 74 Solar Landscape community solar projects in Maryland and Illinois as part of a 3 million-square-foot clean energy portfolio.
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 $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,” says Frank Palladino, vice president, 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.
“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,” says Clayton Avent, chief financial officer 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.
Walmart Inc. has more than 10,500 stores in 19 countries. Walmart continues to be a leader in sustainability, corporate philanthropy and employment opportunity. For more information, visit www.corporate.walmart.com.
Solar Landscape is a 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. For more, visit www.solarlandscape.com.
SOURCE: Solar Landscape