Walmart, SunPower Announce 23-Megawatt Solar Agreement
Walmart announced that it has reached an agreement with SunPower to have the commercial energy provider install solar systems at 19 stores and two distribution centers in Illinois. As part of the project, a mix of rooftop and ground-mount solar systems are expected to account for 23 megawatts, with start of construction targeted for the first half of 2019. This commitment moves Walmart closer to its 2025 goal of supplying its global operations with 50 percent renewable energy. According to the U.S. Environmental Protection Agency (EPA) Greenhouse Gas Equivalencies Calculator, the amount of anticipated annual carbon offset by this initiative will be equal to the amount of carbon sequestered by over 24,000 acres of U.S. forest in one year – the size of Elgin, Ill. Walmart is financing the solar projects through a power purchase agreement (PPA) arranged by SunPower, allowing Walmart to buy power at competitive prices and hedge against future utility rate increases with no upfront capital costs. Click read more below for additional detail.