SAN JOSE and EL CAJON, Calif., Feb. 21, 2017 /PRNewswire/-- This spring, Cajon Valley Union School District (CVUSD) and SunPower Corp. (NASDAQ:SPWR) will begin construction of SunPower® Helix™ solar systems at 24 school sites in the El Cajon region of San Diego County. The solar installations totaling 4.6 megawatts (MW) will primarily include carports, as well as a few rooftop systems, and should be operational by the end of this year.
"With CVUSD's solar investment, we continue to enrich both our schools and our communities by generating clean, renewable energy which will help save on electricity costs and improve our local environment," said Scott Buxbaum, CVUSD Assistant Superintendent of Business Services. "After reviewing qualifications and proposals from six firms, we are very pleased to have selected SunPower's proposal as the best value to the District. Their team has been great to work with."
CVUSD owns the solar power system, along with the associated renewable energy credits. To finance a majority of the project, the District secured U.S. Department of Treasury clean renewable energy bonds (CREBs), which are available to certain entities, primarily in the public sector, to finance renewable energy projects.
"We're pleased to welcome CVUSD to a growing number of school districts across the country that are seeing the economic and environmental value that reliable solar energy solutions from SunPower can generate," said Nam Nguyen, SunPower senior vice president. "Innovative financing options like CREBs and local bonds can accelerate the return on a solar project, making it easy for schools to reinvest savings into their classrooms."
A leader in delivering innovative energy solutions to California schools, SunPower has installed more than 135 MW in 30 districts. According to the Solar Energy Industries Association (SEIA), this is enough to power 33,750 average California homes. Recently announced SunPower education customers include Bonita Unified School District, West Contra Costa Unified School District, and Colton Joint Unified School District.
Attendees of the 38th Annual Conference on School Facilities hosted by California's Coalition for Adequate School Housing in Sacramento, can visit SunPower at booth 209 to learn more about the benefits of solar for schools.
About Cajon Valley Union School District
The Cajon Valley Union School District (CVUSD) serves a diverse population of over 16,500 students from preschool through 8th grade at 27 sites. CVUSD recognizes each student enters our schools with his or her own unique strengths, interests, and values. Our schools use digital resources, technology and a blended learning environment to offer personalized programs and educational opportunities to support students' academic success and develop their strengths and interests.
About SunPower
As one of the world's most innovative and sustainable energy companies, SunPower (NASDAQ:SPWR) provides a diverse group of customers with complete solar solutions and services. Residential customers, businesses, governments, schools and utilities around the globe rely on SunPower's more than 30 years of proven experience. From the first flip of the switch, SunPower delivers maximum value and superb performance throughout the long life of every solar system. Headquartered in Silicon Valley, SunPower has dedicated, customer-focused employees in Africa, Asia, Australia, Europe, and North and South America. For more information about how SunPower is changing the way our world is powered, visit www.sunpower.com.
SunPower's 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, projected energy output, and expected 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.
©2017 SunPower Corporation. All Rights Reserved. SUNPOWER, the SUNPOWER logo and HELIX are trademarks or registered trademarks of SunPower Corporation in the U.S. and other countries as well.
SOURCE SunPower Corp.