In this work, we introduce three algorithmic improvements to reduce the cost and improve the scaling of orbital space variational Monte Carlo (VMC). First, we show that by appropriately screening the one-and two-electron integrals of the Hamiltonian one can improve the efficiency of the algorithm by several orders of magnitude. This improved efficiency comes with the added benefit that the resulting algorithm scales as the second power of the system size O(N 2 ), down from the fourth power O(N 4 ). Using numerical results, we demonstrate that the practical scaling obtained is in fact O(N 1.5 ) for a chain of Hydrogen atoms, and O(N 1.2 ) for the Hubbard model. Second, we introduce the use of the rejection-free continuous time Monte Carlo (CTMC) to sample the determinants. CTMC is usually prohibitively expensive because of the need to calculate a large number of intermediates. Here, we take advantage of the fact that these intermediates are already calculated during the evaluation of the local energy and consequently, just by storing them one can use the CTCM algorithm with virtually no overhead. Third, we show that by using the adaptive stochastic gradient descent algorithm called AMSGrad one can optimize the wavefunction energies robustly and efficiently. The combination of these three improvements allows us to calculate the ground state energy of a chain of 160 hydrogen atoms using a wavefunction containing ∼ 2 × 10 5 variational parameters with an accuracy of 1 mE h /particle at a cost of just 25 CPU hours, which when split over 2 nodes of 24 processors each amounts to only about half hour of wall time. This low cost coupled with embarrassing parallelizability of the VMC algorithm and great freedom in the forms of usable wavefunctions, represents a highly effective method for calculating the electronic structure of model and ab initio systems.Quantum Monte Carlo (QMC) is one of the most powerful and versatile tools for solving the electronic structure problem and has been successfully used in a wide range of problems 1-5 . QMC can be broadly classified into two categories of algorithms, variational Monte Carlo (VMC) 6,7 and projector Monte Carlo (PMC). In VMC one is interested in minimizing the energy of a suitably chosen wavefunction ansatz. The accuracy of VMC is limited by the functional form and the flexibility of the wavefunction employed. PMC on the other hand is potentially exact and several variants exist, such as diffusion Monte Carlo (DMC) 8-10 , Auxiliary field quantum Monte Carlo (AFQMC) 11,12 , Green's function Monte Carlo (GFMC) 13-15 and full configuration interaction quantum Monte Carlo (FCIQMC) [16][17][18][19] . Although exact in principle, in practice all versions of PMC suffer from the fermionic sign problem when used for electronic problems, except in a few special cases. A commonly used technique for overcoming the fermionic sign problem is to employ the fixed-node or fixed-phase approximation that stabilizes the Monte Carlo simulation by eliminating the sign problem at a cost of introduc...