US retail giant Walmart has announced its investment in a portfolio of nearly 43 MW DC of community solar projects developed by Solar Landscape in Maryland and Illinois.
The partnership, confirmed on Wednesday, includes Walmart's commitment to fund 74 commercial rooftop projects, with plans to explore additional investments in the domestic community solar market.
All projects in the portfolio are currently under construction, with operations expected to begin in 2024 and 2025. Once operational, these projects will provide electricity to surrounding communities, powering over 3,600 homes and reducing carbon dioxide emissions by nearly 40,000 tonnes annually.
Approximately half of the portfolio is designed to lower energy costs for low- and moderate-income (LMI) households, potentially saving subscribers about USD 1 million each year on their energy bills, according to Solar Landscape.
“Developing community solar projects on commercial rooftops is the quickest and most efficient way to bring electricity savings to communities,” stated Clayton Avent, CFO of Solar Landscape.
