(WMT) Wal-Mart Stores to Install Solar Projects

As committed to generate renewable energy in California, Wal-Mart Stores Inc. (WMT) planned to install solar-power panels in more than 60 stores in California, which means that 75% of the stores will have solar power.

Further, the state’s largest solar installer – SolarCity will own, install and maintain the new solar power systems for Wal-Mart. At present, SolarCity will install rooftop panels on about 65 California stores.

Through this solar program, Wal-Mart has cut down its energy expenses by more than a million dollars, which will also come as a benefit to the customers. In addition, Wal-Mart’s first solar project had created more than 500 new full-time jobs.

Once the solar projects are completed, Wal-Mart’s solar panel is expected to generate up to 70 million kilowatt hours of clean, renewable energy per year, and avoid spreading 21,700 metric tons of carbon dioxide into the air. Further, it might provide 20% – 30% of a Wal-Mart store’s energy demand.

Going ahead, Wal-Mart expects to raise more than 130 stores by the end of 2013. Besides, the investment in solar power will be able to create hundreds of jobs in California through its partnership with SolarCity.

Wal-Mart already has solar installations in the stores of Sacramento, Stockton and Yuba City. The company is further planning to consider West Sacramento, Elk Grove, Citrus Heights, Orangevale and Roseville for the installation of its solar projects.

We believe that Wal-Mart has got a good opportunity to expand and accelerate its solar power initiative program in California. Besides creating jobs and protecting the environment, these solar projects have also reduced costs for businesses by lowering power bills.

Further, Wal-Mart is making efforts to use renewable technologies to make progress toward the goal of being supplied by 100% renewable energy. We thus remain confident that Wal-Mart will continue to grow its solar energy program in the U.S. and around the world.

Wal-Mart reported its better-than-expected first-quarter 2012 results on August 16, with quarterly earnings of 98 cents a share, up by 12.6% over the prior-year earnings of 87 cents a share as well as surpassing the Zacks Consensus Estimate of $1.08. However, Wal-Mart faces stiff competition from Target Corp. (TGT) and Costco Wholesale Corporation (COST), and has a Zacks #3 Rank, indicating a short-term Hold recommendation.

COSTCO WHOLE CP (COST): Free Stock Analysis Report

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