This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

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.

Copyright 2009 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
ZBB $0.67 0.00%
AAPL $124.25 0.00%
FB $81.66 0.00%
GOOG $542.56 0.00%
TSLA $187.59 0.00%

Markets

DOW 17,698.18 -77.94 -0.44%
S&P 500 2,059.69 -8.20 -0.40%
NASDAQ 4,880.2280 -20.6570 -0.42%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs