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Banking industry

Yolo County and SunPower Corp. Partner for 1-Megawatt Solar Power System

Strategic Insights

— 1 min read

Yolo County, in collaboration with SunPower Corp. and Bank of America, is set to establish a 1-megawatt solar power system at the Yolo County Justice Center in Woodland, California. This ambitious project is made possible through the utilization of multiple funding sources, including clean renewable energy bonds and qualified energy conservation bonds available through the American Recovery and Reinvestment Act of 2009. The system will be owned by Yolo County, which will benefit from the project's cost savings and renewable energy production.

Key Takeaways:

  • The 1-megawatt solar power system will be designed and constructed by SunPower Corp. at the Yolo County Justice Center.
  • The project is financed through multiple funding sources, including clean renewable energy bonds and qualified energy conservation bonds available through the American Recovery and Reinvestment Act of 2009.
  • Yolo County will own the system and associated renewable energy credits, with Bank of America providing subsidized bonds.
  • SunPower assisted Yolo County in securing a 15-year loan from the California Energy Commission.
  • The system will utilize SunPower's most efficient solar panels, the SunPower Tracker, which follows the sun's movement during the day, increasing sunlight capture by up to 25% over conventional fixed-tilt systems.
  • The project is expected to save Yolo County $8.8 million over the next 25 years.
  • The system is expected to avoid more than 2.2 million pounds of carbon dioxide emissions each year, equivalent to removing over 5,700 cars from California's roads over the 30-year life of the system.
  • Bank of America is a leader in working with energy services providers like SunPower to help local governments improve their environment while saving local tax dollars.

Statistics:

  • The solar power system will be a 1-megawatt system.
  • The system is expected to produce $8.8 million in savings over the next 25 years.
  • The system is expected to avoid more than 2.2 million pounds of carbon dioxide emissions each year.
  • The equivalent number of cars removed from California's roads over the 30-year life of the system is over 5,700.
  • Bank of America is focusing on projects like this as part of its $20 billion, 10-year initiative to address global climate change.

Sources:

  • Bank of America
  • SunPower Corp.
  • American Recovery and Reinvestment Act of 2009
  • California Energy Commission
  • U.S. Environmental Protection Agency

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