Walmart, the world's largest retailer, has announced that it will leverage its power to bring affordable renewable energy to consumers. Rahul Raj, director of sustainability and merchandising innovation at Walmart.com, also said the company's goal is to attain 100 percent renewable power for itself.
"As part of our aspirational goal of being 100% powered by renewable energy, we envision a world where people do not have to choose between electricity they can afford and renewable electricity.
"We believe we will make clean, renewable energy more affordable for everyone.
"A new energy future can contribute to every day low costs and enable everyday low prices for our customers. In our minds, cleantech has arrived."
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Today, about 22 percent of Walmart's energy needs come from clean energy, according to Raj. In California, around 75 percent of its locations will have rooftop solar installations by the end of 2013.
"Our renewable energies are focused on the development and installation of new renewable energy projects. Driving down the cost of renewable energy, building scale and securing cost-effective, stable energy pricing that meets or beats utility pricing."
He did, however, mention the challenge of overcoming regulatory barriers on the path to reaching 100 percent renewable energy. He said that the company believed nine conditions applied to drive a high volume of renewables, including improved technologies and low-cost financing. Regardless, Walmart is determined to overcome those market hurdles.