One of the nation’s leading information technology companies partnered with SolarCity to outfit its Palo Alto headquarters with more than 4,000 solar panels. SolarCity and HP, along with the City of Palo Alto, City of Palo Alto Utilities and SolarCity financing partner Direct Energy Business (DEB), worked together to complete the one-megawatt system, which offsets more than 20 percent of HP’s current power usage onsite.
SolarCity owns and manages the solar power system, while HP purchases the electricity the solar system generates through a power purchase agreement (PPA) with SolarCity. The installation is expected to help HP reduce its utility power costs by approximately $1 million over the next two decades. In addition, the system will save more than 130 million gallons of fresh water over the next two decades that would otherwise be consumed to produce electricity from fossil fuel or nuclear sources.