SolarCity and City of San José Flip Switch on First in Series of Solar Projects Expected to Save City Millions
SAN JOSE, Calif., June 28, 2012— The City of San José and SolarCity®, a national leader in clean energy products and services, have completed the first of a series of 16 solar power projects totaling nearly 2.5 megawatts, and are evaluating 14 additional sites for potential projects later next year. Installations at Kelley Park (411kW), the Police Activities League Sports Center (160kW), a municipal water office (30kW), and a service yard (95kW) are complete.
SolarCity will install and maintain the solar systems for free, without any cost to the city. SolarCity will then sell the solar electricity to the City at a rate anticipated to be lower than it pays for electricity from Pacific Gas & Electric (PG&E).
The solar power systems are expected to create millions in energy savings for City taxpayers during the 20 year term of the power purchase agreements. SolarCity estimates the Kelley Park project alone will save the city $27,000 in the first year and up to $1.2 million over 20 years.
“San José is a national leader in solar installations and these projects will bring us one step closer to reaching our Green Vision goals,” Mayor Chuck Reed said. “Installing solar on City facilities is not just good for the environment; it will also save the City money and support the region’s clean tech economy.”
These solar projects are key pillars in the City’s ambitious 2007 Green Vision goal to receive 100 percent of its electrical power from clean renewable energy sources.
“The City of San José is proactively embracing opportunities that more American cities should be taking--to save money and reduce pollution by using renewable energy,” said SolarCity’s CEO Lyndon Rive. “These projects are wins for San José’s economy and environment.”
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 offers solar power, energy efficiency and electric vehicle services, and makes clean energy easy by taking care of everything from design and permitting to monitoring and maintenance. SolarCity currently serves 14 states and signs a new customer every three minutes. Visit the company online at www.solarcity.com and follow the company on Facebook & Twitter.