TUCSON, Ariz. and SAN JOSE, Calif., Sept. 11, 2012 /PRNewswire/ -- Reinforcing its commitment to promote the use of renewable energy, Tucson Electric Power (TEP) has modified an existing agreement with SunPower Corp. (NASDAQ: SPWR) to incorporate six megawatts of its new C7 Tracker technology into a planned facility that will also include two megawatts of SunPower's T5 Solar Roof Tile technology. The SunPower C7 Tracker is a solar photovoltaic tracking system that concentrates the sun's power seven times and, when at scale, can deliver the lowest levelized cost of electricity (LCOE) for utility-scale solar power plants.
"TEP is committed to maintaining its leadership role in the development of solar energy in Southern Arizona by utilizing new and innovative technologies," said Carmine Tilghman, director of renewable resources and programs at TEP and its parent company, UNS Energy Corp. (NYSE: UNS). "SunPower's C7 Tracker provides us a great opportunity to expand our solar development while providing our customers with cost-effective renewable energy.
"This project, which will be owned by TEP, will assist the company in reaching its goal of incorporating more than 200 megawatts of solar energy into its system by the end of 2013," Tilghman added.
"TEP is leading the way by utilizing proven solar technology with the best economics over the long term," said Howard Wenger, SunPower president, regions. "The SunPower C7 Tracker leverages two decades of experience in reliable tracking systems to deliver bankable technology, guaranteed performance and the greatest return on investment for utility customers."The C7 Tracker combines single-axis tracking technology with rows of parabolic mirrors, reflecting light onto 22.8 percent efficient SunPower Maxeon™ solar cells, which are the world's most efficient commercially available solar cells. Using mirrors to reduce the number of solar cells required to generate electricity lowers the LCOE by up to 20 percent compared to competing technologies. For example, a 400-megawatt C7 Tracker power plant requires less than 70 megawatts of SunPower solar cells.
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 + 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