SunPower has now completed the 1MW solar PV installation at the Yolo County Justice Campus in Woodland, CA. Yolo County, which owns the system and associated renewable energy credits, is financing the system using multiple funding sources, including clean renewable energy bonds (financed by Bank of America), qualified energy conservation bonds available through the American Recovery and Reinvestment Act of 2009 and a 15-year loan from the California Energy Commission.
“With the funding we secured as a result of the 2009 federal stimulus bill and the California Energy Commission loan, Yolo County has no out-of-pocket expenses to build this project, and will be net cash flow positive from the first day of the system’s operation,” said Yolo County board of supervisors chairwoman Helen Thomson. “Savings over the next 25 years are estimated to be about US$8.8 million, directly benefiting Yolo County residents and businesses. State and federal funding has helped make solar power an easy, affordable means to reduce county operational costs as well as our dependence on fossil fuels.”
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“This may be the first solar project to make use of the federal stimulus legislation’s clean energy renewable bonds, established last year, and among the first large-scale solar projects to be funded by a California Energy Commission loan. Yolo County is using the federal and state funding to save money, create jobs and produce clean energy for years to come,” said Bill Kelly, managing director at SunPower. “We are thrilled to be supporting the county with the implementation of SunPower’s proven, high performing technology, ensuring impressive savings for years to come.”
“We congratulate Yolo County for taking this step toward increasing its reliance on renewable energy while also improving its fiscal efficiency,” said John Rudberg, energy services sales executive for Bank of America, which has added finance to the project as part of its US$20 billion, 10-year initiative to address global climate change. “This is a great example of the type of energy project our national and state governments are encouraging through tax policies. Bank of America is pleased to be a leader in working with energy services providers such as SunPower to help local governments improve our environment while saving local tax dollars.”