Santa Rosa Junior College (SRJC) recently selected SunPower (NASDAQ:SPWR) to deploy a fully-integrated solar and storage project. The 100-acre campus in Santa Rosa will feature the SunPower® Helix™ Carport system and SunPower's Garage Top Carport system totaling about 2.6 megawatts, coupled with a 1.3-megawatt (2 megawatt-hour) energy storage system from Stem, Inc. The 40-acre Petaluma campus will also install a 1.3 megawatt Helix Carport system.
Designed with customers like schools in mind, the Helix Carport system features SunPower's high-efficiency solar panels that maximize energy production, a simplified electrical and cable management system to secure and conceal wires, as well as monitoring software that communicates real-time insights for better energy management. By adding Stem's software-driven energy storage, Santa Rosa Junior College is expected to see significant demand charge savings.
"As a large community college that believes strongly in sustainability, SRJC wants to maximize the value of our solar energy system with energy storage," said Dr. Frank Chong, Superintendent and President at SRJC. "This will cut our energy costs even further to improve our economics, benefit our students, and use taxpayer dollars as wisely as possible."
The college will own the new solar and energy storage systems, which were financed by Measure H bond funds. When complete in 2018, the project will add to a 77-kilowatt SunPower system that has been operating on top of Frank P. Doyle Library since 2007. The SunPower systems combined are expected to deliver significant energy cost savings during their decades of useful life.
SunPower will be responsible for design, engineering and procurement of materials for the solar and storage project, and will operate and maintain the solar system. The storage system will be operated using Stem's software.
"With SunPower headquartered in the San Francisco Bay Area, it's rewarding to see local colleges install solar to save on energy costs, while demonstrating the importance of sustainability to students in our communities," said Nam Nguyen, SunPower executive vice president. "We look forward to helping Santa Rosa Junior College maximize the value of its solar and storage investment with SunPower's comprehensive, cost-effective energy solutions."
SunPower has long been a trusted solar partner for community colleges and schools in California given the company's extensive experience delivering innovative energy solutions to education customers. To learn more, visit the company's solar for higher education webpage here.
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 Santa Rosa Junior College
Santa Rosa Junior College (SRJC) is known for academic excellence, superb faculty and staff, comprehensive student services and beautiful facilities. This beloved community institution, turning 100 years old in 2018, enrolls approximately 26,000 students each semester. SRJC is dedicated to making higher education accessible and successful for all. Student life is vibrant, with over 50 clubs, conference-winning athletic teams, nationally ranked speech and debate teams, and outstanding theatre arts, music and dance programs. The College has campuses in Santa Rosa and Petaluma, as well as Shone Farm, Southwest Santa Rosa Center and the Public Safety Training Center. A 2015 study found that the local economic impact of SRJC totaled $1.6 billion and over 26,000 local jobs.
About Stem, Inc.
Stem creates innovative technology services that transform the way energy is distributed and consumed. The company's mission is to build and operate the largest digitally connected energy storage network for our customers. Our world class analytics optimize the value of customers' energy assets and facilitate their participation in energy markets, yielding economic and societal benefits while decarbonizing the grid. Headquartered in Millbrae, California, Stem is funded by a consortium of leading investors including Angeleno Group, Iberdrola (Inversiones Financieras Perseo), GE Ventures, Constellation Technology Ventures, Total Energy Ventures, Mitsui & Co. LTD., RWE Supply & Trading, and Mithril Capital Management. Visit www.stem.com for more information.
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 plans and timelines, relative generating capacity, anticipated performance of products, and projected electricity 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 reports on Form 10-K and Form 10-Q, 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.