Walmart has announced it is investing in 26 solar projects across the United States, with 20 directly benefiting local communities. The initiatives geared toward residential areas are set to provide energy to approximately 13,000 households and potentially save consumers more than $8 million annually, with three-quarters of those savings earmarked for low- and moderate-income homes.
“These projects are expected to expand access to clean energy, drive new tax revenue to communities, create local jobs and in the case of community solar initiatives, offer direct benefits to Walmart’s customers, members and local communities by helping them save money on energy costs,” Walmart said in a statement.
The retail giant has plans to further expand its investments in green energy projects beyond this in the coming years. By 2030, the company aims to generate up to 10 gigawatts of electricity from renewable sources, sufficient to power over 2 million homes. By 2035, Walmart targets achieving 100% reliance on renewable energy, followed by a net-zero emissions output come 2040.
“An energy system that thrives on emissions-free energy, helps people save money and enables energy resilience for our domestic grid is good for everyone – our business, customers and members, communities and, of course, our planet,” the company said. “Walmart will continue to seek out investments that allow us to expand clean energy capacity and help customers and communities save money and live better, contributing to a more sustainable future.”
To fulfill these objectives, Walmart is already leveraging its global presence, with over 600 clean energy projects either operational or in development spanning more than 10 countries. This commitment to renewable energy marks a significant departure from the company’s previous carbon footprint, which once rivaled that of the entire U.S. fossil fuel industry just a few years ago.
