General Electric Co.’s Current unit and Tesla Inc. will install solar systems on 50 Home Depot Inc. stores and sell the power output to the retailer.
The solar rooftops will generate enough electricity to reduce each store’s demand from local utility grids by about one third, Atlanta-based Home Depot said in a statement Thursday. It’s part of a company plan to get 135 megawatts of clean energy at its stores by 2020.
Home Depot will buy the output from each of the systems under power purchase agreements in New York, New Jersey, Connecticut, California and Washington, D.C. Six locations will also get battery storage from Tesla. Terms weren’t disclosed.