SunPower To Build 1-MW PV Plant in Yolo County

Yolo County, which will own the system and associated renewable energy credits, is financing the purchase using multiple funding sources, including clean renewable energy bonds and qualified energy conservation bonds available through the American Recovery and Reinvestment Act of 2009.

In addition to the subsidized bonds, which were financed by Bank of America, SunPower assisted the county in securing a 15-year loan from the California Energy Commission.

"With the funding we secured as a result of the federal stimulus bill and the California Energy Commission loan, Yolo County has no out-of-pocket expenses to build the project, and will be net cash flow positive from the first day of the system's operation, expected to be later this year," said Yolo County General Services Director Ray Groom. "We estimate that savings over the next 25 years will be about $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."

The solar power system, which is expected to be complete by September, will utilize SunPower solar panels, the most efficient solar panels on the market, with the SunPower Tracker system.

"We believe this is 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."