MDUSD will finance this solar power project with Clean Renewable Energy Bonds (CREBs), which it has secured under the American Recovery and Reinvestment Act of 2009 with an interest rate of 1.7% to be paid by the district.
SunPower, which has more than 550 solar power systems in operation or under contract globally, will deploy shade structure solar systems in school parking lots and hard court areas in phases through early 2012 under the MDUSD project.
The solar project in conjunction with SunPower’s technology, experience and service capabilities is expected to save the district $192m over the 30-year life of the systems, while also reducing the region’s emission.
SunPower president of presidential and commercial business group, Jim Pape said that the Mount Diablo Unified School District is capturing a great opportunity to reduce its utility costs while helping the state meet its renewable energy goals.
"It is especially rewarding to see the high efficiency solar technology developed here in California by SunPower, now being deployed to deliver tremendous benefits to California schools," Pape said.
