Ranked seventh among U.S. states for the most solar capacity, Massachusetts is adding 6.9 megawatts to its 1,487 megawatts of solar currently installed and operating. Solect Energy and Green Street – members of SunPower's reputable national dealer network – have developed two high-efficiency SunPower® solar systems that will provide electricity to 10 Massachusetts schools.
In Easton and in partnership with SunPower (NASDAQ:SPWR), Solect Energy has constructed a 2.8-megawatt SunPower solar carport system at Stonehill College. The college will buy electricity generated by the system at a competitive rate under a power purchase agreement (PPA) arranged by SunPower which requires no upfront investment. As part of the RPS Solar Carve-Out II – a market-based incentive program designed to support solar growth across the Commonwealth – the system will help meet the state's Department of Energy Resources' goal of 1,600 megawatts of solar installed by 2020. The system is expected to meet about 20 percent of the college's energy needs.
"We applaud Stonehill College for its proven commitment to sustainability," said Scott Howe, partner and senior vice president of sales at Solect Energy. "With the addition of this SunPower solar canopy system, the College now has a grand total of six megawatts of solar installed on campus – and they are able to reinvest savings earned from the solar systems into areas of need such as student scholarships, maintenance, and campus upkeep."
In Bridgewater, Green Street has developed a 4.1-megawatt SunPower® Helix™ Roof system at Ajax United Drive, LLC. Green Street will own the offsite solar power system – as well as the associated renewable energy credits – while Attleboro Public Schools will buy the power produced through a PPA, saving an estimated $3 million over 20 years. Energy from the system is expected to meet about 75 percent of electricity needs for five elementary schools, three middle schools and one high school.
"With SunPower's innovative solar solutions, we were able to transform an unused, offsite rooftop into a mini power plant that benefits a number of partners including the building owner and local school district," said Scott Kerner, CEO of Green Street. "It's incredibly rewarding to know that this SunPower solar system will deliver long-term value to the students of Attleboro by generating meaningful savings that can be reinvested into local classrooms."
Across the Commonwealth, there are more than 14,500 skilled professionals in the solar industry. A total of about 90 workers contributed to both the Stonehill College and Attleboro Public Schools installations during peak construction.
"Massachusetts solar installations grew 23 percent year over year in 2016 as an integral part of the state's commitment to creating a diverse, clean energy economy," said Nam Nguyen, SunPower executive vice president. "Working in partnership with SunPower dealers, we're proud to continue increasing solar adoption in the Commonwealth by leveraging our 30 years of experience and reliable clean energy solutions."
SunPower solar technology has helped a number of Massachusetts schools save on energy costs, including Cape Cod Community College, Clark University, Edgerly School, Harvard University, and University of Massachusetts Lowell. Visit SunPower's site for more about the benefits of solar for schools, or the company's business feed for an informational guide on commercial solar PPAs.
With more than 30 years of proven experience, SunPower is a global leader in solar innovation and sustainability. Our unique approach emphasizes the seamless integration of advanced SunPower technologies, delivering The Power of One® complete solar solutions and lasting customer value. SunPower provides outstanding service and impressive electricity cost savings for residential, commercial and power plant customers. At SunPower, we are passionately committed to changing the way our world is powered. And as we continue shaping the future of Smart Energy, we are guided by our legacy of innovation, optimism, perseverance and integrity. Headquartered in Silicon Valley, SunPower has dedicated, customer-focused employees in Africa, Asia, Australia, Europe, North America and South America. Since 2011, we've been majority-owned by Total, the fourth largest publicly-listed energy company in the world. For more information, visit www.sunpower.com.
About Solect Energy
Solect is a full-service solar photovoltaic (PV) project developer and installer based in Hopkinton, Massachusetts, delivering smart solar and energy management solutions to help businesses and organizations reduce energy costs. As an industry leader in commercial-scale solar energy, Solect takes a practical approach to the development, installation and on-going support of each system. We partner closely with our customers, providing strong financial insight and solar technology expertise to optimize their investment while creating a positive impact on the environment. Solect currently has installed over 57 MW (megawatts) of commercial PV systems, with a primary focus on commercial, light industrial and institutional properties in New England. For more information, visit www.solect.com or follow us on Twitter at @SolectSolar.
About Green Street
Green Street Solar Power provides solar energy systems to homes and businesses throughout the northeast. Headquartered in the Bronx, NY, Green Street has grown from two founders to more than 60 employees in less than two years. Green Street continues to experience rapid growth with 100 MW of commercial and community solar projects in development. As they expand their solar coverage, Green Street consistently provides the best available solar technology coupled with an unwavering commitment to customer service. To find out more about Green Street Solar Power, visit GreenStreetSolarPower.com.
SunPower 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 project timeline, projected energy output, and 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.