Wal-Mart Stores Inc.
) has committed to double the number of solar energy projects at
its stores, Sam's Clubs and distribution centers nationwide by
2020. The announcement was made at an event with President Barack
Obama on May 9. Through this global initiative, Walmart expects to
stimulate the production of renewable energy to 7 billion kilowatt
hours (kWh) globally every year by Dec 2020, up 600% from 2010
In addition to the on-site solar products, Walmart has committed
to reduce the intensity of its energy use by 20% compared to 2010
levels. Thus, efficiency investments and investments in renewables
are expected to save $1 billion a year in energy costs at
The company has already been recognized by the Solar Energy
Industry Association as the largest on-site solar user. Walmart has
saved approximately 4.8 million kWh to date through its 240 solar
projects in partnership with SolarCity, which installs, owns and
maintains solar power systems for the company.
Walmart is well on track to reach its goal of supplying 100%
renewable energy and is way ahead of other companies when it comes
to the use of renewable power. Walmart now has over 300 renewable
energy projects in operation or under development around the world.
Besides solar plant installations, Walmart has plans to develop
projects in wind, fuel cells and other technologies.
We believe that Walmart's commitment to expand and accelerate
its solar power initiative program will not only create jobs and
protect the environment but will also reduce costs for local
businesses by lowering electricity bills. According to SolarCity,
its projects with Walmart alone have created an estimated 9,000
construction jobs in the U.S., while SolarCity alone has created an
additional 5,000 permanent American jobs since it initiated its
first project with Walmart in 2010. We thus remain confident that
the company will continue to grow its solar energy program in the
U.S. and around the world.
Walmart currently holds a Zacks Rank #4 (Sell).
Other better-ranked stocks in the retail sector include
Spartan Stores Inc.
Companhia Brasileira de Distribuicao
The Kroger Co.
). While Spartan Stores holds a Zacks Rank #1 (Strong Buy),
Companhia Brasileira de Distribuicao and Krpger carry a Zacks Rank
Want the latest recommendations from Zacks Investment Research?
Today, you can download 7 Best Stocks for the Next 30 Days.
Click to get this free report
COMPANHIA BRASL (CBD): Free Stock Analysis
KROGER CO (KR): Free Stock Analysis Report
SPARTAN STORES (SPTN): Free Stock Analysis
WAL-MART STORES (WMT): Free Stock Analysis
To read this article on Zacks.com click here.