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Walmart will invest in 3 million square feet of rooftop community solar projects from Asbury Park-based Solar Landscape.

While no figure was provided for the value of the investment, an Oct. 9 announcement from the Bentonville-based retail giant and solar energy company said the 74 projects will create nearly 43 megawatts of capacity for surrounding communities in Maryland and Illinois. According to the partners, that’s enough power to serve more than 3,600 homes.

Looking ahead, the companies say they plan to explore follow-on investments and opportunities.

With commercial rooftop projects currently under construction, the sites expect to energize this year and next, according to the announcement. Solar Landscape estimates the projects will save subscribers about $1 million annually on energy bills. About half of the portfolio is designed to reduce energy costs for low- and moderate-income households.

In a statement, Walmart Vice President, Renewable Energy Strategy Frank Palladino said the investment aligns with the company’s purpose to help people save money and live better.

“Once operational, these projects will enhance grid infrastructure in dozens of communities in Maryland and Illinois, while expanding access to affordable clean energy and helping thousands of households save money on energy bills,” he added.

Shining bright

The announcement continues momentum for Solar Landscape.

According to the company, its work has deployed more than 500 megawatts of renewable energy projects. That represents more than $1 billion in capital investment and leases covering 100 million square feet across commercial rooftops. Near the end of 2023, Solar Landscape revealed plans to hire more than 100 employees in 2024. The boost aimed to double operations in the new year.

Meanwhile, New Jersey expanded its successful Community Solar Energy Program this year. The move more than doubled the size of the existing initiative, enabling it to accommodate an additional 40,000 subscribers across the state. At the time, Solar Landscape CEO and co-founder Shaun Keegan and others commented on the significance of the increase.

“This model began in New Jersey and is now being duplicated across the country,” Keegan said at the time. “Rooftop community solar can be built quickly, preserves precious open space, creates good union jobs, and generates power closer to where it will be used.”

The company’s innovative approach to clean energy has earned support for its work, as well as accolades.

In June, EY recognized Keegan and co-founder and COO Corey Gross among 10 regional New Jersey winners for the Ernst & Young’s 2024 Entrepreneur of the Year.

The Walmart investment also follows other major partnerships. In August, Solar Landscape and National Storage Affiliates Trust announced plans to develop at least 100 megawatts of solar capacity, representing about 8.5 million square feet of rooftop space. Still making strides within the Garden State, that same month, the company also unveiled Atlantic County’s first community solar project.

Creating value

In the work with Walmart, the partners say targeting densely populated “load pockets” will add significant value to the electrical grid.

“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,” said Solar Landscape CFO Clayton Avent. “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.”

Once complete, the 43 megawatt portfolio will help avoid emissions equal to almost 40 million pounds of coal burned (nearly 40,000 tons of carbon dioxide annually), the partners said, citing the U.S. Environmental Protection Agency.

The investment will also help create new local jobs. Solar Landscape estimates the construction requires approximately 342,000 person-hours of installation time — equivalent to more than 170 full-time jobs if tackled in a single year.