The main goal of Walmart’s drive to be 100 percent sustainable and renewable is to reduce costs and provide savings to customers, according to comments made by the company’s vice president of energy to the Arkansas Advance Energy Association (AAEA), according to The City Wire.
The executive, Mark Vanderhelm, said that the interim goal is produce or procure 7 billion kWh of renewable energy by the end of 2020. Currently, the company produces 26 percent renewable energy annually. The next step, Vanderhelm told the AAEA, will be more difficult and complex. It involves working with vendors, universities, researchers, innovators, companies in Walmart’s supply chain and others. The main focus currently is solar. Wind and fuel cell storage are next on this list.
Deloitte’s 2015 resources study found that most companies consider energy management to be an essential corporate strategy. Among other findings, the study found that energy management programs account for about 17 percent of total capital budgets, which is 5 percent more than in2014. Seventy-nine percent view reducing electricity costs as essential to creating and maintaining a competitive advantage.