SAN JOSE, Calif., April 21, 2021 /PRNewswire/ -- SunPower Corp.
(NASDAQ:SPWR), a leading solar technology and energy services
provider, announced new projects with Baltimore County to cover two closed landfills
with solar systems. These projects are expected to generate upwards
of 30 megawatts (MW) of clean energy, equivalent to the power used
by one third of the County's municipal buildings including
government facilities.
"Electricity savings from solar can help municipalities invest
more money into our schools, parks and community centers. We
applaud Baltimore County for
transforming otherwise under-utilized land into productive solar
parks, enabling them to achieve their ambitious sustainability
goals while significantly improving the County's budget," said
Eric Potts, Executive Vice President
for Commercial Direct at SunPower.
The projects, located at the closed Hernwood and Parkton landfills, are the first large-scale
solar energy projects in Baltimore
County's history and mark another new milestone for the
County to address climate change. Under power purchase agreements
(PPAs), the County pays $0 upfront
while SunPower and its financiers cover the cost of the arrays.
Over the next 25 years, the County will pay a flat, fixed rate per
kilowatt-hour (kWh) for the solar generation, expected to save
millions of dollars in electricity costs. Through Maryland's "aggregate net metering" rule,
Baltimore Gas & Electric will credit the solar generated at the
landfills against electric loads at other County buildings.
"We're proud to be taking a bold step forward to ensure
Baltimore County remains a
statewide leader in renewable energy and helps build a greener and
cleaner future for our communities," Baltimore County Executive
Johnny Olszewski said. "Climate
change poses one of the most significant threats to our long-term
health and prosperity. That is why we are thankful for this
partnership with SunPower to transform these sites into productive
alternative energy sources, further reducing Baltimore County's carbon footprint and
helping us meet our renewable energy goals."
Along with other sustainability initiatives, the solar project
in Baltimore County is expected to
help the County reach its sustainability goals. Today, County
Executive Olszewski signed an Executive Order setting an aggressive
new goal to complete future renewable energy projects set to
generate electricity equivalent to 100 percent of Baltimore County's electricity demand by 2026
and 125 percent by 2030.
The projects will now enter the design and permitting phase,
with construction expected to begin in 2022 and to be fully
operational by 2023. According to the Environmental Protection
Agency (EPA) greenhouse gas calculator, the 43 million kWh
generated annually by the projects will capture the same amount of
planet-warming carbon dioxide as 40,000 acres of US forests –
nearly the same size as Washington,
DC.
For more information on SunPower's commitment to advance clean
energy, visit www.sunpower.com.
About SunPower
Headquartered in California's Silicon Valley, SunPower
(NASDAQ:SPWR) is a leading Distributed Generation Storage and
Energy Services provider in North America. SunPower offers the only
solar + storage solution designed and warranted by one company that
gives customers control over electricity consumption and resiliency
during power outages while providing cost savings to homeowners,
businesses, governments, schools and utilities. 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 project plans and
timelines, projected energy output, relative generating
capacity, 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
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 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.
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SOURCE SunPower Corp.