Walmart, US Solar Announce Agreement for 36 Community Solar Gardens
BENTONVILLE, Ark. and MINNEAPOLIS, June 11, 2019 /PRNewswire/ -- Today, Walmart announced that it has reached an agreement with US Solar to subscribe to 36 of US Solar's community solar gardens located throughout the state of Minnesota.
US Solar's 36 one-megawatt (MW) community solar gardens will generate clean, renewable energy and provide energy savings to Walmart locations in 13 separate counties. The first solar gardens have completed construction and the remainder are targeted to be online by the first half of 2020.
Community solar in Minnesota allows businesses, public entities, and residents to subscribe to an offsite solar garden without having to site solar directly on their property, thereby enabling subscribers to reduce their retail electricity costs while also supporting clean, local energy. Subscribers receive energy savings in the form of a bill credit on their retail electric bill based on the amount of energy produced each month by their subscribed portion of the solar gardens.
"Solar is a vital component of Walmart's expanding renewable energy portfolio," said Mark Vanderhelm, Vice President of Energy for Walmart Inc. "Walmart plans to tirelessly pursue renewable energy projects that are right for our customers, our business and the environment. This community solar gardens initiative with US Solar is moving us in the right direction toward our renewable energy goals."
"We commend Walmart for their leadership in corporate renewable energy adoption and are proud to have Walmart as an anchor subscriber in so many of our projects, supporting further development of community solar in Minnesota," said Martin Mobley, US Solar CEO.
The bill credits that Walmart will receive are based on Minnesota's Value of Solar methodology, which takes into consideration the value of the solar energy delivered to the utility by the community solar gardens, as well as other grid and environmental benefits.
About Walmart Walmart Inc. (NYSE: WMT) helps people around the world save money and live better - anytime and anywhere - in retail stores, online, and through their mobile devices. Each week, over 275 million customers and members visit our more than 11,300 stores under 58 banners in 27 countries and eCommerce websites. With fiscal year 2019 revenue of $514.4 billion, Walmart employs over 2.2 million associates worldwide. Walmart continues to be a leader in sustainability, corporate philanthropy and employment opportunity. Additional information about Walmart can be found by visiting http://corporate.walmart.com, on Facebook at http://facebook.com/walmart and on Twitter at http://twitter.com/walmart.
About US Solar United States Solar Corporation ("US Solar") makes solar energy accessible with simple solutions that are as good for the wallet as they are for the environment. US Solar is a developer, owner, operator, and financier of solar generation projects with a focus on emerging markets and community solar programs. With its primary offices in Minnesota and Connecticut, US Solar helps residents, public entities, and businesses reduce electricity costs with local, renewable energy. Additional information about US Solar and community solar subscriptions can be found by visiting https://us-solar.com/ and https://facebook.com/USSOLARcorp/.
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SOURCE US Solar