Renewable energy development company SunEdison has signed off on a 20-year power purchase agreement with the Rialto Unified School District in California for 8.4MW of solar energy.
As part of the deal, SunEdison will install solar canopies over the parking lots of all 28 schools located throughout the district.
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The schools estimate that the solar systems will produce a 20% relief on their electricity bills — amounting to around US$1 million saved in their first year of operation. Through the course of the 20-year deal, the district expects to net around US$30 million in energy cost savings.
Sam Youneszadeh, SunEdison managing director of Western U.S. commercial and industrial, said: “The Rialto Unified School District is taking a financially savvy approach to control their energy costs. The SunEdison solar canopies will generate clean, affordable energy while providing welcome shade for cars in the parking lot.”
Dr. Cuauhtémoc Avila, Rialto Unified School District superintendent, added: “These SunEdison solar systems have the potential to generate millions of dollars in savings for our school district over the next 20 years. These savings can be used to fund other critical needs, and the solar systems can be incorporated into the curriculum as real life examples of innovative science at work. SunEdison has a great track record of solar installations for schools throughout California and we're delighted to be working with them on this project.”
The solar systems are expected to produce enough energy to power over 1,300 homes and are also slated to be completed in the second half of 2016.
Operation and maintenance of the projects will be handled by SunEdison Services, while clean energy power plant owner TerraForm Power expects to acquire the installations once completed.
