Asbury Park-based Solar Landscape and Walmart on Wednesday announced that the retail giant will invest in 74 Solar Landscape community solar projects in Maryland and Illinois.
The commercial rooftop projects will create nearly 43 megawatts (DC) of solar capacity for the surrounding communities.
Approximately half of the portfolio, currently under construction and expected to energize in 2024 and 2025, will create enough power to serve the equivalent of over 3,600 homes.
In total, Solar Landscape estimates that the projects will save subscribers about $1 million annually on energy bills.
“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,” Clayton Avent, CFO of Solar Landscape, said. “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.”
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.
Solar Landscape and Walmart plan to explore follow-on investments and opportunities to achieve shared goals in the domestic community solar space.
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.
