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Walmart announced it will invest in 74 Solar Landscape community solar projects in Maryland and Illinois.

The commercial rooftop projects are currently under construction and are expected to be energized in 2024 and 2025. They will create nearly 43 MWDC of solar capacity for the surrounding communities, enough power to serve the equivalent of over 3,600 homes.

Approximately half of the portfolio is designed to reduce energy costs for low- and moderate-income (LMI) households. In total, Solar Landscape estimates that the projects will save subscribers about $1 million annually on energy bills.

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Source: Solar Power World

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Walmart is investing in 19 solar projects under development across the US, including 15 community solar projects.

Walmart’s strategic tax equity investment will drive the construction, operation, and maintenance of solar projects across five states – Illinois, Colorado, Maryland, Delaware, and California.

As the American Council on Renewable Energy explains, tax equity investors provide funding to take advantage of the tax benefits and receive cash flows from the project, partnering with the project sponsor to become a partial owner of the project company.

In this case, Walmart is partnering with Colorado-based renewable energy provider Pivot Energy, and the retail giant’s tax equity investment will enable the construction of 72 megawatts (MW) of community solar projects. In Colorado, 41 MW of those projects will serve low and moderate-income homes.

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Source: electrek

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