El Paso, Tex. – SolarCity (NASDAQ: SCTY) has completed commercial solar installations at two Walmart stores in El Paso, Texas, representing the first full size rooftop solar installations at Walmart stores in the state and SolarCity’s first commercial solar projects in the City of El Paso. Similar to SolarCity’s residential solar offering for El Paso homeowners, the new solar arrays were installed for no upfront cost and are expected to help the company manage energy costs, provide long term price stability, and help the company meet its renewable energy goals.
Comprising more than 2,100 panels and a total of 644 kilowatts of generation capacity, the two installations at Walmart stores on Hondo Pass Dr. and Dyer St. are expected to generate enough solar energy over the next 10 years to power nearly 950 average homes for a year. Over the same period of time, the solar systems will also prevent more than 13 million pounds of carbon dioxide from entering the atmosphere – the equivalent to taking more than 1,200 cars off the road for one year or planting more than 150,000 trees.*
Through a power purchase agreement, Walmart will pay SolarCity only for the renewable electricity it generates at the two sites. SolarCity designed and installed the systems and will operate, insure, monitor and maintain them throughout the agreement.
SolarCity has completed more than 200 solar projects at Walmart locations since 2010. In November, SolarCity announced that it entered into contracts to install new solar projects at Walmart facilities in up to 36 states over the next four years.
SolarCity’s service to El Paso businesses and homeowners makes it possible to install solar with no upfront cost and pay a lower rate for solar electricity than for utility power. To learn more about how to go solar simply and affordably, visit SolarCity online at www.solarcity.com or call 1-888-SOL-CITY (1-888-765-2489) for a free, no-obligation solar consultation.
*Environmental calculations are based on data from the United States Environmental Protection Agency, with a system contract of 10 years.
This release contains forward-looking statements including, but not limited to, statements regarding future projects and cost savings. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved, if at all. Forward-looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward looking statements. You should read the section entitled "Risk Factors" in SolarCity's quarterly report on Form 10-Q, which has been filed with the Securities and Exchange Commission and identifies certain of these and additional risks and uncertainties. We do not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.
SolarCity® (NASDAQ: SCTY) provides clean energy. The company has disrupted the century-old energy industry by providing renewable electricity directly to homeowners, businesses and government organizations for less than they spend on utility bills. SolarCity gives customers control of their energy costs to protect them from rising rates. The company makes solar energy easy by taking care of everything from design and permitting to monitoring and maintenance. Visit the company online at www.solarcity.com and follow the company on Twitter.