SolarCity Corp (NASDAQ:SCTY) Signs New Solar Project With Wal-Mart Stores, Inc. (NYSE:WMT)

SolarCity Corp (NASDAQ:SCTY) entered into a new contract with Wal-Mart Stores, Inc. (NYSE:WMT) for the installation of solar projects at Walmart’s facilities in up to 36 states. It will take four years to complete the new solar power project.

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 Energy storage project

SolarCity Corp (NASDAQ:SCTY) will also work on ten energy storage projects along with solar power generation at Wal-Mart Stores, Inc. (NYSE:WMT) locations in the next year. The new energy storage installations will make use of 200 kilowatt battery. It will further reduce energy expense and at the same will expand battery storage capabilities.

The extended association

SolarCity Corp (NASDAQ:SCTY) is meeting the solar projects need of Walmart since 2010. It has worked on more than 200 solar projects for Wal-Mart Stores, Inc. (NYSE:WMT) at various locations. Apart from the solar power projects, SolarCity has even worked on energy storage projects at 13 Walmart facilities. It is one of the key clients for SolarCity’s Energy Storage projects. The 13 energy storage projects were installed across California. Walmart made additional savings by using stored electricity. The energy storage projects help the organizations to lower peak demand charges and save on utility bills.

The completed projects

SolarCity Corp (NASDAQ:SCTY) has completed almost 50 solar power projects for Wal-Mart Stores, Inc. (NYSE:WMT) since 2013. Some of the solar projects completed in last one year are:

  • 2 rooftops and 10 carport projects at Arizona
  • 3 carports and 12 rooftops projects at Walmart California
  • 4 rooftop projects at Walmart New York
  • 3 rooftop projects at Walmart Oregon
  • 13 rooftop projects at Puerto Rico

The message

Wal-Mart Stores, Inc. (NYSE:WMT) is one of the finest examples of the retail company focusing on storage technology. Not only Walmart is promoting commercialization of solar energy but also is helping SolarCity to create more jobs in the U.S. Since the time SolarCity Corp (NASDAQ:SCTY) started working on Walmart’s projects, it has created about 5,000 permanent jobs in the U.S.

About the Author

John is a special projects and general assignment reporter, noted for breaking several exclusive stories.

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