SAN JOSE, Calif.,
June 26, 2017 /PRNewswire/ --
The University of California, Merced's
precedent-setting Triple Zero Commitment aims for zero net energy
use, the creation of zero net landfill waste and climate neutrality
on campus by 2020, a goal that coincides with the university's
expansion project to nearly double the campus's physical capacity
by that same year.
In support of UC Merced's goals, the university is working
with SunPower Corp. (NASDAQ:SPWR) to install a 5-megawatt solar
power system featuring a carport-and-rooftop installation,
complemented by a 500-kilowatt energy storage solution from
Stem.
"UC Merced is a sustainability leader in higher education,
and we are committed to supporting economic, socially responsible
and environmentally conscious initiatives," said Colleen McCormick, the university's director of
sustainability. "We have always set ambitious goals for
sustainability in our campus construction and operations, and this
partnership with SunPower will help us reach those
goals."
The system will be UC Merced's second featuring
SunPower® solar technology. A 1-megawatt ground-mounted
tracker system has been in operation and exceeding performance
expectations since 2009, and the two systems combined are expected
to supply more than 50 percent of the campus's energy needs. UC
Merced will own the renewable energy credits (RECs) associated with
the new solar energy system, which is estimated to generate clean
electricity equal to removing approximately 30,000 cars from the
road every year for 25 years.
The 5-megawatt photovoltaic system and 500-kilowatt
battery storage system will be financed by a power purchase
agreement (PPA). In addition to energy cost savings from solar
production, adding Stem's software-driven energy storage positions
UC Merced to achieve significant demand charge savings over the
first 10 years of the project.
"It's an honor to help customers like UC Merced get closer
to their sustainability goals with SunPower's dependable solar
solutions," said Nam Nguyen,
SunPower executive vice president. "With a well-regarded reputation
for delivering high-efficiency, cost effective solar solutions to
schools and higher education facilities nationwide, SunPower looks
forward to helping UC Merced achieve the economic and environmental
value that SunPower's quality solar and storage solution
enables."
SunPower has long been a solar partner with the
University of California system given
the company's extensive experience delivering innovative energy
solutions to higher education customers. SunPower is responsible
for more than 70 percent of solar under construction or operating
at University of California facilities,
which include systems in Berkeley,
Davis, Riverside and Santa
Barbara.
Attendees at this year's California Higher Education
Sustainability Conference (CHESC) in Santa Barbara can visit SunPower at Booth 16
to learn more about the benefits of solar for
schools.
About University of California,
Merced
UC Merced opened in 2005 as the
newest campus in the University of
California system and the first American research university
built in the 21st century. The campus enjoys a special connection
with nearby Yosemite National
Park, is on the cutting edge of sustainability in
construction and design, and supports highly qualified
first-generation and underserved students from the San Joaquin Valley and throughout California. The Merced 2020 Project, a
$1.3 billion public-private
partnership that is unprecedented in higher education, will nearly
double the physical capacity of the campus and support enrollment
growth to 10,000 students.
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.
About SunPower
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.
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, relative generating capacity, expected cost
savings, and projected carbon offset. 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 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.
©2017 SunPower Corporation. All Rights
Reserved. SUNPOWER and the SUNPOWER logo are registered
trademarks of SunPower Corporation in the U.S. and other countries
as well. All other logos and trademarks are properties of their
respective owners.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/sustainability-minded-university-of-california-merced-selects-sunpower-for-5-megawatt-solar-energy-system-with-storage-300479332.html
SOURCE SunPower Corp.