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Solar Stocks News: Real Goods Solar (NASDAQ:RSOL) to Install $30 Million Solar Power Program for Fremont Union High School District
Largest Direct Purchase by a Secondary School System in North America
CAMPBELL, Calif. -- June 5 -- Real Goods Solar (NASDAQ:RSOL) announced today it has signed a contract to design and install solar electric systems totaling 3.65 megawatts for the Fremont Union High School District in Sunnyvale, Cupertino and west San Jose, California. The new solar systems will be constructed as carports at all five high schools in the District and are expected to save District taxpayers over $12 million in the total cost of electricity over the next 25 years. The five systems will contribute enough electricity to cover about 45% of the power usage of each school. This solar program, exceeding $30 million, is believed to be the largest direct purchase by a secondary school system in North America, financed by a portion of a $198M school bond approved by the District’s voters in June 2008.
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The District researched many alternative energy options before choosing Real Goods Solar for these installations across school campuses. The system monitoring that Real Goods Solar provides will enable campuses to track their electricity offset in the years ahead.
Glenn Evans, COO/Associate Superintendent, stated, "Electricity is our single largest expense other than teachers and staff and we can only use school bond funds for facilities and equipment. By investing bond dollars in solar, we will save many tens of millions of dollars on electric utility bills over the coming decades and that savings will go directly into supporting educational programs and students. Real Goods Solar worked very closely with us to develop a solar power system customized to our energy needs. Solar electricity will be a huge win for everyone – for taxpayers, for students, for our community and for the environment."
A Groundbreaking ceremony will take place at the Homestead High School site on June 9 at 12:45 p.m.
About the Fremont Union High School District:
Located in the heart of Silicon Valley and the San Francisco Bay Area in the State of California, the Fremont Union High School District currently serves over 10,000 students in a 42 square mile area covering all of the City of Cupertino, most of Sunnyvale and portions of San Jose, Los Altos, Saratoga, and Santa Clara in Santa Clara County. People move to the community because of the outstanding elementary and high school districts. The five high schools — Cupertino, Fremont, Homestead, Lynbrook, and Monta Vista — continue to hold top ranking throughout the region, state, and nation.
About Real Goods Solar:
Real Goods Solar is a leading solar energy integrator, having installed over 4,500 solar electric systems for both residential and commercial properties. Real Goods Solar offers turnkey solar energy solutions, and has 30 years of experience in solar energy, beginning with its sale of the first solar photovoltaic panels in the United States in 1978. With offices in San Rafael, Richmond, Campbell, Fresno, Santa Cruz, Murrieta, and Hopland, California, as well as in Boulder, Colorado, Real Goods Solar is one of the largest residential solar installers in the United States. Real Goods Solar is publicly traded under the symbol RSOL (NASDAQ). For more information, go to www.realgoodssolar.com or call 1-888-507-2561.
Contacts:
Real Goods Solar
Liz Huntington, 415-456-2800
liz.huntington@realgoods.com
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