|By PR Newswire||
|September 23, 2016 08:01 AM EDT|
COLTON and SAN JOSE, Calif., Sept. 23, 2016 /PRNewswire/ -- Colton Joint Unified School District (CJUSD) and SunPower Corp. (Nasdaq: SPWR) are celebrating the upcoming construction of SunPower® Helix™ carport systems at 28 schools with a kickoff event at Grand Terrace High School on Saturday, Sept. 24.
The SunPower Helix carport systems will generate approximately 6.1 megawatts (MW) of clean energy and are estimated to provide CJUSD with more than $35 million in electricity savings over the next 25 years. On completion, SunPower estimates that 73 percent of the district's electricity will be provided through the SunPower Helix carport systems. CJUSD will buy power at a competitive rate under a power purchase agreement (PPA) with SunPower and will own the renewable energy credits associated with the systems.
The project also features two key elements of SunPower's Smart Energy product suite. SunPower will provide 1.1 MW of battery storage systems at seven schools to reduce the district's demand charges at these sites. SunPower will provide the battery systems under a no-money-down Battery Service Agreement that includes a guarantee of peak demand reductions. In addition to the batteries, SunPower will provide its EnergyLink™ Enterprise energy management software, giving CJUSD powerful insights about its energy use, and accurate reporting about financial savings from SunPower's solar and storage systems.
"This is a truly great project that will allow us to protect the long-term financial health of the district and redirect tens of millions of dollars in future revenue toward other district priorities," said CJUSD Superintendent Jerry Almendarez. "It also allows us to set an example of being environmentally responsible and to teach our students about clean energy and sustainability."
"Colton Joint Unified School District will gain significant value for many years to come through the powerful combination of a power purchase agreement and SunPower systems, storage and software," said Howard Wenger, SunPower president, business units. "School districts work hard to maximize every dollar, so helping reduce electricity costs through innovative solutions, while inspiring students with the great potential of solar power, is extremely rewarding."
In addition to generating power, the project will also include much-need shade for parking and shelters for students on many campuses. It also reflects the district's ongoing commitment to both fiscal and environmental responsibility. CJUSD continually works to reduce energy consumption at schools and other district facilities through its energy management program. The district has increasingly moved from more traditional landscaping such as grass to more drought-tolerant designs using elements such as native plants, concrete and artificial turf.
SunPower will install high efficiency SunPower direct current (DC) solar panels, the most efficient on the market today. They are the world's first solar panels to achieve a Cradle to Cradle Certified™ Silver designation for the sustainable practices and materials used in their manufacturing.
Construction of the carports will take place through 2017, sequenced in three phases to minimize impacts on school operations. Phase 1 schools to be completed by the end of 2016 include Bloomington High School, Grand Terrace High School, Joe Baca Middle School and Ruth Harris Middle School.
SunPower is a leader in delivering innovative energy solutions to California school districts. At 23 school districts across the state, the company has installed solar power systems totaling more than 90 megawatts which, according to the Solar Energy Industries Association (SEIA), is enough to power 22,500 average California homes.
About Colton Joint Unified School District
The Colton Joint Unified School District serves the educational needs of more than 23,000 students, grades K-12. It includes 18 elementary schools, four middle schools, three comprehensive high schools, one alternative school, one continuation high school and a preschool center. CJUSD covers an area of 48 square miles of mostly San Bernardino County in Inland Southern California and includes all or parts of seven different cities. CJUSD leadership places a high value on community involvement and collaboration between employee groups.
As one of the world's most innovative and sustainable energy companies, SunPower (Nasdaq: SPWR) provides a diverse group of customers with complete solar solutions and services. Residential customers, businesses, governments, schools and utilities around the globe rely on SunPower's more than 30 years of proven experience. From the first flip of the switch, SunPower delivers maximum value and superb performance throughout the long life of every solar system. Headquartered in Silicon Valley, SunPower has dedicated, customer-focused employees in Africa, Asia, Australia, Europe, and North and South America. For more information about how SunPower is changing the way our world is powered, visit www.sunpower.com.
SunPower's Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding expected project timelines, projected energy output, and expected cost savings. These forward-looking statements are based on our current assumptions, expectations and beliefs and involve substantial risks and uncertainties that may cause results, performance or achievement to materially differ from those expressed or implied by these forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to: regulatory changes and the availability of economic incentives promoting use of solar energy, challenges inherent in constructing and maintaining certain of our large projects, and fluctuations or declines in the performance of our solar panels and other products and solutions. A detailed discussion of these factors and other risks that affect our business is included in filings we make with the Securities and Exchange Commission (SEC) from time to time, including our most recent report on Form 10-K, particularly under the heading "Risk Factors." Copies of these filings are available online from the SEC or on the SEC Filings section of our Investor Relations website at investors.sunpowercorp.com. All forward-looking statements in this press release are based on information currently available to us, and we assume no obligation to update these forward-looking statements in light of new information or future events.
©2016 SunPower Corporation. All Rights Reserved. SUNPOWER, the SUNPOWER logo, ENERGYLINK and HELIX are trademarks or registered trademarks of SunPower Corporation in the U.S. and other countries as well. Cradle to Cradle Certified™ is a certification mark licensed by the Cradle to Cradle Products Innovation Institute. Cradle to Cradle Certified™ is a multi-attribute certification program that assesses products and materials for safety to human and environmental health, design for future use cycles, and sustainable manufacturing.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/colton-joint-unified-school-district-expected-to-save-millions-with-sunpower-solar-and-storage-300333135.html
SOURCE SunPower Corp.
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