Boston, MA 05/13/2014 (wallstreetpr) – The world’s biggest chain of retail store operator, Wal-Mart Stores, Inc. (NYSE:WMT) announced its commitment of doubling the on-site solar energy projects in the U.S. by the turn off 2020 as part of its initiative to procure renewable energy.
On-Site Solar Energy Projects
The company disclosed at an event with the President Barrack Obama that the assurance is in tune with its worldwide program to fuel the production of renewable energy worth of 7 billion kWh by the turn of 2020 and included Sam’s Clubs, its U.S. stores, and distribution centers. Obama’s visit to the store was to highlight the significance of renewable and energy efficiency that has the potential to keep the U.S. strong.
Wal-Mart Stores, Inc. (NYSE:WMT) said that it has achieved significant progress in its goal of getting 100% renewable energy. The latest assurance has not only extended its commitment of its leadership, but also double its on-site solar energy projects both in the U.S. as well as Puerto Rico in the next six years compared to a baseline of 2013.
Solar Energy Industry Association recognized the company as the number one commercial solar energy user and America’s biggest on-site energy user. Wal-Mart’s commitment towards renewable energy could very well be understood when it signed a deal with the Department of Energy’s Better Buildings Initiative strengthening its assurance to cut down the energy intensity by 20% by the end of the year 2020 compared to a baseline of 2010.
Currently, the company procures solar energy systems to the tune of 14.5% from California-based SolarCity, which disclosed that its projects with Wal-Mart alone created approximately 9K construction jobs besides creating 5K additional permanent jobs for the Americans after it has launched its first project in 2010 with Wal-Mart.
Total Savings
The latest commitment from the biggest retailer in the world could allow Wal-Mart Stores, Inc. (NYSE:WMT) to save a maximum of $1 billion per annum in energy costs by the end of the year 2020.
