RGS Energy Selected to Deploy $22 Million in Solar Power Systems for Stockton Unified School District in California
April 10 2014 - 8:31AM
RGS Energy (Nasdaq:RSGE) and SEC SUSD Solar One, LLC, have executed
agreements to begin construction on solar energy projects at up to
22 sites within the Stockton Unified School District (SUSD).
When completed later this year, the solar photovoltaic (PV)
sites will generate a total of up to 6.7 megawatts (MW) of clean
solar power for schools and facilities in the district. The systems
are expected to allow the district to pay less for electricity over
the course of a 25-year power purchase agreement executed with SEC
SUSD Solar One. The first year savings alone are expected to be
approximately $900,000.
The anticipated energy savings will benefit the district's
school programs and services, with the solar PV systems delivering
substantial environmental benefits. Collectively, the systems are
expected to eliminate more than 290 million pounds of annual carbon
dioxide emission or the equivalent of taking roughly 1,000 cars off
the road.
Through this transaction, the district is able to install solar
PV systems with no upfront cost and while experiencing lower energy
costs. RGS Energy, a nationwide solar provider with five operations
centers in California, will be responsible for construction of the
projects.
The SUSD deployment will involve more than 22,000 solar panels
installed on top of parking lot carports at the school campuses,
including four high schools. The installations will also
demonstrate how solar technology works and reveal its benefits, as
students monitor online in real-time the school's energy
production.
"We have successfully deployed solar energy systems at many
schools and academic institutions, and are always impressed by the
great value proposition solar brings to the educational sector in
particular," said RGS Energy CEO Kam Mofid. "RGS Energy is
delighted to help the Stockton Unified School District achieve its
goals of fiscal responsibility, educational excellence and
effective environmental stewardship."
RGS Energy, which has designed and installed nearly 75 MWs of
solar power on schools, universities and colleges across the
nation, expects to complete the projects, valued at up to
approximately $22 million, by the end of 2014.
SEC SUSD Solar One is a wholly owned subsidiary of NextEra
Energy Resources, LLC.
About Stockton Unified School District Stockton
Unified School District, headquartered in Stockton, California, is
made up of elementary, high and specialty schools that service the
majority of Stockton students.
About RGS Energy RGS Energy (Nasdaq:RSGE) is
one of the nation's pioneering solar energy companies serving
commercial, residential, and utility customers. Beginning with one
of the very first photovoltaic panels sold to the public in the
U.S. in 1978, the company has installed more than 19,000 solar
power systems representing well over 170 megawatts of 100% clean
renewable energy. RGS Energy makes it very convenient for customers
to save on their energy bill by providing a comprehensive solar
solution, from design, financing, permitting and installation to
ongoing monitoring, maintenance and support.
As one of the nation's largest and most experienced solar power
players, the company has 17 offices across the West and the
Northeast. For more information, visit RGSEnergy.com, on Facebook
at www.facebook.com/rgsenergy and on Twitter at
www.twitter.com/rgsenergy. RGS Energy is a trade name and RGS
Energy makes filings with the Securities and Exchange Commission
under its official name "Real Goods Solar, Inc."
Cautionary Statement Regarding Forward-Looking
Statements This communication includes forward-looking
statements relating to matters that are not historical facts.
Forward-looking statements may be identified by the use of words
such as "expect," "intend," "believe," "will," "should" or
comparable terminology or by discussions of strategy. While RGS
Energy believes its assumptions and expectations underlying
forward-looking statements are reasonable, there can be no
assurance that actual results will not be materially different.
Risks and uncertainties that could cause materially different
results include, among others, introduction of new products and
services, completion and integration of acquisitions, possibility
of negative economic conditions and other risks and uncertainties
included in RGS Energy's filings with the Securities and Exchange
Commission. RGS Energy assumes no duty to update any
forward-looking statements.
CONTACT: Media and Investor Relations Contact
Ron Both
Liolios Group, Inc.
Tel 1-949-574-3860
RGSE@liolios.com