GE and Tesla to Outfit 50 Home Depot Stores With Solar Panels

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.

About BloombergNEF

BloombergNEF (BNEF), Bloomberg’s primary research service, covers clean energy, advanced transport, digital industry, innovative materials and commodities. We help corporate strategy, finance and policy professionals navigate change and generate opportunities.

Available online, on mobile and on the Terminal, BNEF is powered by Bloomberg’s global network of 19,000 employees in 176 locations, reporting 5,000 news stories a day.
Sign up for our free weekly newsletter →

Want to learn how we help our clients put it all together? Contact us