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  • SunPower Corp. (SPWR) Solar Technology Utilized In Bloomberg's First Completed Onsite Renewable Energy Project 0 comments
    Jun 19, 2012 2:15 PM | about stocks: SPWR

    SunPower announced the completion of a 1.8 megawatt solar power system for Bloomberg in the state of New Jersey. The system, an eight-acre, ground-mounted solar tracking system, is generating the equivalent of 58 percent of electricity demand at Bloomberg's 100,000-square-foot main building at its Skillman, N.J. campus. The system is the first completed renewable energy project at a Bloomberg facility.

    The development of renewable energy is a core component of Bloomberg's overall commitment to environmental sustainability. This solar installation represents a significant contribution to Bloomberg's environmental and financial goals and diversifies New Jersey's energy supply with power that is reliable, clean, and cost-efficient.

    The power generated from the system is being purchased by Bloomberg at prices below retail rates, which will provide a long-term cushion against rising power prices without an initial capital investment. A subsidiary of Integrys Energy Services, Inc. owns the system and is also selling the solar renewable energy credits and environmental attributes associated with the project. Through its Solar Loan Program, PSE&G offers low-interest loans for solar power development, and the system is being financed, in part, through that program.

    The system being installed for Bloomberg uses high-efficiency SunPower solar panels with the SunPower T0 Tracker system, which follows the sun's movement during the day and increases sunlight capture by up to 25 percent over conventional fixed-tilt systems, significantly reducing land use requirements at the same time. The T0 Tracker provides more solar energy per square meter and more energy savings than conventional systems, maximizing the clean, renewable solar power being generated onsite for the next two decades or more. The new system will provide Bloomberg with long-term cost savings on electricity and will support renewable energy development needful for environmental health and energy independence.

    SunPower is a company engaged in designing, manufacturing, and delivering the highest efficiency and most reliable solar panels and systems available today. Customers range from residential and business to government and utility and rely on SunPower's 25 years of experience and guaranteed performance for maximum return on investment throughout the life of the solar system. SunPower is headquartered in San Jose, Calif., and has offices in North America, Europe, Australia, Africa, and Asia.

    For more information, visit the company's Web site at www.sunpowercorp.com

    Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html

    Stocks: SPWR
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