GE's Current to add solar to 50 Home Depot stores

US home improvement retailer Home Depot Inc (NYSE:HD) said on Thursday it is partnering with Current, powered by General Electric (NYSE:GE), to install solar panels at 50 of its stores.

The collaboration will help the retailer lower its electricity grid demand at between 30% and 35% per year at each of the selected locations and expand its overall alternative energy portfolio to over 130 MW. Home Depot aims to have 135 MW of alternative and renewable energy facilities by 2020.

As part of the project, each unused rooftop space will be equipped with about 1,000 photovoltaic (PV) panels, the combined output of which will be enough to supply around 2,300 average US homes. The solar arrays will be installed at 20 of Home Depot’s stores in New Jersey and 22 locations in California and New York, while the rest will be installed at sites in Connecticut, Maryland and Washington, DC. Six of the plants will use Tesla Powerpacks energy storage systems.

"Our alternative energy projects are important elements of our sustainability and operations efforts as they reduce carbon emissions while also lowering our energy costs," said David Hawkins, vice president of labor and operations at Home Depot.

Home Depot and Current are currently building the PV facilities and expect work to continue throughout 2017.

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