In order to be energy efficient, departmental store Kohl’s Corporation (KSS) has announced it will install solar panels in about 30 additional locations in 2012. The company had added 20 solar locations in 2011.
In addition to installing the solar plants in the states of California, Connecticut and Maryland where Kohl’s already has a solar presence, Kohl’s will install solar plants for the first time in the states of Massachusetts, New York and Ohio. Kohl’s expects to install such solar panels in more than 150 locations across 13 states by the end of 2012.
The solar panels will supply about 20% to 50% of a store’s energy on an average. With the installation of the 30 new locations, the company’s portfolio of solar panels will produce more than 74.2 million kWh of energy annually, which simply means that it will help in checking greenhouse gas emissions from 10,032 vehicles or the annual carbon dioxide emissions from the electricity use of 6,380 homes.
Kohl’s started its solar program with the installation of solar panels in its California store in 2007, and has expanded the program over the last five years. We believe that Kohl’s has a good opportunity to expand and accelerate its solar power initiative program. Besides creating jobs and protecting the environment, these solar projects have also resulted in cost savings.
Like Kohl’s, the retail giant Wal-Mart Stores, Inc. (WMT) has installed about 100 solar-power panels in the U.S. Walmart has partnered with SolarCity, which installs, owns and maintains solar power systems for Walmart, to install solar-power panels in its stores.
Currently, we have a Neutral recommendation on Kohl’s, and the stock has a near-term recommendation with a Zacks #3 Rank (a short-term Hold rating).
KOHLS CORP (KSS): Free Stock Analysis Report
WAL-MART STORES (WMT): Free Stock Analysis Report
