TEMECULA, Calif. — SolarCity (NASDAQ: SCTY) and Temecula Valley Unified School District (TVUSD) are together installing a six megawatt solar and energy storage project across 19 schools and the district’s administrative office. The project, which includes energy storage systems at five sites, required no upfront investment and is expected to save the district more than $520,000 within the first year of operation alone, and $35 million over 25 years by providing affordable power at a discount to utility rates.
“Like many schools districts across the county, Temecula Valley has faced increasing budget cuts and rising operational expenses,” said Janet Dixon, Director of Facilities Development at Temecula Valley Unified School District. “With SolarCity, we found a creative way to cut our electricity bills. This money will free up funds for the district to invest in student programs and curriculum.”
The project includes 18 solar carports and two ground mount solar arrays. The carports incorporate SolarCity’s ZS Beam technology, which is safer, faster and more cost efficient to install than previously possible. Carports also provide shade for parking and even the district’s students during break and lunch hours. Five of the project’s sites will also be equipped with DemandLogic™, SolarCity’s smart energy storage system for businesses. Together, the DemandLogic systems will have 2,600 kilowatt hours of energy storage capacity that can later be intelligently dispatched during times of highest demand. TVUSD will reduce energy costs by using stored electricity to lower peak demand, further contributing to the district’s overall cost savings.
TVUSD chose a SolarCity Power Purchase Agreement, which allows the district to pay for only the power the systems produce at a fixed rate that is less than what it is currently offered by the local utility. The district retained Sage Renewable Energy Consulting, Inc. an independent energy consulting firm, to help assess the feasibility of the projects and determine the most cost-effective designs for each site to optimize energy savings. The firm also helped to solicit and organize proposals for the projects and select the best candidate to meet TVUSD's specifications and goals.
Beyond savings, the projects provide a terrific opportunity for students to learn firsthand about solar energy and storage. With SolarCity’s PowerGuide, a solar production monitoring system, students can also see how much energy the schools’ photovoltaic panels are producing on an hourly, daily, monthly and yearly basis.
Temecula Valley Schools are an example of taxpayer-funded California institutions which benefit from net metering, a cornerstone policy which allows them to control energy costs and protect school budgets by contributing the excess energy their systems produce back to the grid for neighbors to consume.
With all its elements combined, the system is expected to prevent more than 96,000 metric tons of greenhouse gas emissions from entering the atmosphere over its lifetime. That’s equivalent to taking more than 20,000 cars off the road for a year. In addition, because solar power production requires virtually no water—unlike energy generated by thermoelectric power plants—the system is expected to avoid the use of more than 4 billion gallons of water, which drought-stricken California so sorely needs.*
About Temecula Valley Unified School District
The Temecula Valley Unified School District is located in Riverside County. The District recently earned the distinction of receiving the highest overall assessment scores in Riverside County on the new California Smarter Balanced Tests. The District covers 213 square miles (north to French Valley, south to the Riverside County line, east to Vail Lake, and, west to the Temecula city limit. The District began operations as a unified school district in 1989. Currently, there are seventeen elementary schools, six middle schools, three comprehensive high schools, one continuation high school, one independent study high school, one virtual school, two charter schools, and one adult school in the District for a total of thirty-two schools. The District also conducts a childcare program called BASES at various elementary school sites. The District employs approximately 1,316 certificated employees and 1,459 classified employees. Total 2015-16 enrollment is approximately 27,700. The District received voter approval of the $165 million dollar Measure Y Bond in November 2012. The funds will be provided by the issuance of bonds planned to occur four times over approximately 10 years. A master facility plan and bond projects list have been established to prioritize projects for completion during the lifetime of the bond.
SolarCity (NASDAQ: SCTY) provides clean energy. The company has disrupted the century-old energy industry by providing renewable electricity directly to homeowners, businesses and government organizations for less than they spend on utility bills. SolarCity gives customers control of their energy costs to protect them from rising rates. The company makes solar energy easy by taking care of everything from design and permitting to monitoring and maintenance. SolarCity currently serves 19 states. Visit the company online at www.solarcity.com and follow the company on Facebook & Twitter.
About Sage Renewables
Sage Renewables is an independent renewable energy consulting and project development firm with over 156 MW of project experience. From project conception to operations management, Sage provides unbiased expertise on all aspects of energy projects. Sage is technology and vendor neutral, and has implemented energy projects with all market-ready renewable technologies including solar PV, energy storage, energy management systems, solar thermal, fuel cell and wind. For more information, visit www.sagerenew.com.
This release contains forward-looking statements including, but not limited to, statements regarding expected cost savings and offsets. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved, if at all. Forward-looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward looking statements. You should read the section entitled "Risk Factors" in SolarCity's quarterly report on Form 10-Q, which has been filed with the Securities and Exchange Commission and identifies certain of these and additional risks and uncertainties. We do not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.