SunPower Awarded $1.8 Million Research Grant From The California Solar Initiative RD&D Program
SAN JOSE, Calif., Sept. 7 /PRNewswire/ -- In a second round of funding by the California Public Utilities Commission (CPUC), SunPower Corp. (Nasdaq: SPWRA, SPWRB), will receive a grant of approximately $1.8 million from the California Solar Initiative Research, Development, Deployment and Demonstration (CSI RD&D) Program. This grant will enable SunPower to research photovoltaic (PV) energy storage for large commercial applications.
SunPower will partner with three energy storage companies, Ice Energy, Xtreme Power and ZBB Energy (NYSE Amex: ZBB), to establish a pilot program for demonstrating the integration of advanced energy storage systems in combination with existing PV systems for commercial customers. Working with a major retailer, SunPower plans to demonstrate the economic and operational benefits of combining PV with each of the partners' storage devices.
"Rooftop solar is affordable today and growing rapidly in cities all across America," said Jim Pape, SunPower president, residential and commercial. "SunPower is excited to work with PG&E, KEMA, Sandia National Laboratories, and our storage partners to evaluate how to make solar power even more valuable during peak energy periods."
The CPUC California Solar Initiative (CSI) has a goal to create 1,940 megawatts of new, solar-produced electricity by 2016, moving the state toward a cleaner energy future and helping to lower the cost of solar systems for consumers. The CSI budget is $2.2 billion over 10 years, and has five distinct program components. The RD&D program, one component of the CSI Program, has an overall budget of $50 million and aims to achieve California's goal of creating a vibrant solar industry. This program provides grants to fund solar research and demonstration projects that will measurably reduce the cost and accelerate the installation of solar and other distributed technologies that could employ solar for generation, storage, or that could reduce the use of natural gas.About SunPower Founded in 1985, SunPower Corp. (Nasdaq: SPWRA, SPWRB) designs, manufactures and delivers the planet's most powerful solar technology broadly available today. Residential, business, government and utility customers rely on the company's experience and proven results to maximize return on investment. With headquarters in San Jose, Calif., SunPower has offices in North America, Europe, Australia and Asia. For more information, visit www.sunpowercorp.com. SunPower is a registered trademark of SunPower Corp. All other trademarks are the property of their respective owners. SOURCE SunPower Corp.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV