Obama Praises Wal-Mart as a Solar Power Powerhouse

Bill Simon, CEO of Wal-Mart
Bill Simon, CEO of Wal-Mart

President Obama spoke at a Wal-Mart last week in Mountain View, California, to highlight the huge retailer’s role in advancing the cause of solar power. Wal-Mart is already the largest commercial customer of solar energy, according to the Solar Energy Industry Association and the U.S. Environmental Protection Associations, and plans on doubling the number of projects which generate this renewable energy source within the next six years. They hope to produce about seven billion kilowatt/hours of solar sourced power by 2020.

Obama said that there are over 300 companies and state and local governments who have already promised to make solar power a major source of energy. Obama also announced projects the White House is planning to undertake to improve energy efficiency with the main goal being to lower the US dependence on carbon-based fuels.

“The commitments we’re announcing today prove that there are cost-effective ways to tackle climate change and create jobs at the same time,” Obama stated in front of the giant Wal-Mart store, which gets 15 per cent of its power from solar.

According to Wal-Mart CEO Bill Simon renewable energy lowers expenses.

“We know from experience that investing in energy innovation allows us to save money, reduce carbon pollution, and create jobs. Every day, millions of Americans depend on us to watch every penny so that we can provide the best prices on products they love. Our customers can feel good that we’re watching out for both their wallets and their children’s future,” Simon said.

With more companies committing to the use of solar power every day, marketplace risk is reduced and initial costs drop. In a press release Wal-Mart stated that its greenhouse gas emissions have hardly gone up over recent years despite the fact that the company has continued to grow.

About Michelle Grathers

Michelle Grathers is an international tax expert. She has consulted for a variety of firms and high net worth individuals on all tax- and legal-related issues. She also helps new companies develop payroll services, statutory audits and mergers and acquisitions. Contact Michelle at michelle[at]businessdistrict.com