The Whole Foods Market company has signed an agreement with SolarCity to install solar power systems at more than 100 of its stores nationwide. The installation will take place at the stores and distribution centers, outfitting each with rooftop solar panels. SolarCity and NRG Energy will deliver the solar power services for the stores.
Whole Foods is based in Austin, Texas and indicated the plan aims to increase the production of solar power and offset the need for a traditional grid power while helping the organic food store save money.
Whole Foods has three stores in Oklahoma—-one in Oklahoma City and two in Tulsa. Corporate communications has yet to respond to an inquiry whether the three stores will also be among those getting the solar panels. The firm believes that once the project is completed, the solar power systems will place Whole Foods within the top 25 corporate solar users in the country. Installation will begin this spring and the Texas company expects to save money not just through the solar panels but from buying power from SolarCity at a discount to current electricity costs, locking in low solar energy rates for years into the future.
“We feel that increasing support for renewable energy is a good thing for our company overall and hedging against potential rising energy costs going forward is also important,” said Kathy Loftus, global leader in sustainability for Whole Foods Market in an interview with CNBC.
The announcement could be good news for SolarCity after it reported a bigger than expected first quarter loss and installations falling short of their target. SolarCity is backed by Tesla Motors founder Elon Musk but shares have fallen more than 50 percent in the past year.
