SAN MATEO, Calif. and AUSTIN, Texas — SolarCity (NASDAQ: SCTY) and Whole Foods Market, Inc. (NASDAQ: WFM) announce a plan to install solar power systems on locations across the United States. The plan aims to increase the production of solar power and offset some need for traditional grid power while helping Whole Foods Market (WFM) save money.
In total, WFM plans to retrofit up to 100 stores with rooftop solar. SolarCity, America’s #1 solar power provider, will deliver solar power services for many stores across the Whole Foods Market portfolio, in locations such as Connecticut, New Jersey and New York. SolarCity will custom design each solar power system to maximize the amount of grid power offset and expects to begin installation this spring. WFM will also save money with the new solar installations by purchasing power from SolarCity at a discount to current electricity costs, locking in low solar energy rates for years into the future. Once completed, these solar power systems are expected to place Whole Foods Market within the top 25 corporate solar users in the nation.
Direct Energy Business offers managed products with advisory services for a total energy strategy, and has a relationship with Whole Foods Market in some of their stores. Solar is integrated into that strategy as part of a collaboration to provide solar electricity directly to businesses through a dedicated investment fund established by Direct Energy and SolarCity.
SolarCity is the #1 commercial and residential solar installer in the United States.* The company’s services make it possible for many businesses and homeowners to pay less for electricity generated by solar panels than they pay for power.
About Whole Foods Market
Founded in 1978 in Austin, Texas, Whole Foods Market is the leading natural and organic foods supermarket, the first national “Certified Organic” grocer, and uniquely positioned as America’s Healthiest Grocery Store™. In fiscal year 2015, the Company had sales of approximately $15 billion and has 434 stores in the United States, Canada, and the United Kingdom. Whole Foods Market employs approximately 91,000 team members and has been ranked for 18 consecutive years as one of the “100 Best Companies to Work For” in America by Fortune magazine.
SolarCity (NASDAQ: SCTY) provides clean energy. The company has disrupted the century-old energy industry by providing renewable electricity directly to homeowners, businesses and government organizations for less than they spend on utility bills. SolarCity gives customers control of their energy costs to protect them from rising rates. The company makes solar energy easy by taking care of everything from design and permitting to monitoring and maintenance.
About Direct Energy
Direct Energy is a leading energy and energy-related services provider with nearly five million residential and commercial customers in North America. Direct Energy provides customers with choice and support in managing their energy costs through a portfolio of innovative products and services. A subsidiary of Centrica plc (LSE: CNA), one of the world’s leading integrated energy companies, Direct Energy operates in 50 U.S. states plus the District of Columbia and 10 provinces in Canada.