Phoenix is financing the system through a solar services agreement with SunPower. Under terms of the agreement, Wells Fargo owns the system that SunPower designed, built, and will operate and maintain. The city will buy the electricity at rates that are competitive with retail electricity, minimizing the effect of rising electricity costs with no capital investment. The renewable energy credits (RECs) associated with the system will be transferred to Arizona Public Service (APS) in fulfillment of the state's renewable energy standard. The project was facilitated in part by APS's Renewable Energy Incentive Program, which offers financial incentives to customers that help to offset up to 40 percent of the costs of installing solar energy.
About the Phoenix Water Services DepartmentThe City of Phoenix's Water Services Department is more than 100 years old and treats and distributes tap water to 1.5 million customers over approximately 540 square miles. Water Services also manages Phoenix's sewer system, and treats wastewater for 2.5 million residents in five Valley cities. Water Services infrastructure includes 7,000 miles of water lines, 5,000 miles of sewer lines, seven treatment plants, 50,000 fire hydrants and 90,000 manholes. Phoenix's water and sewer rates are among the lowest of comparable-sized cities nationwide. Phoenix's tap water supply is in very good shape due to decades of planning and multiple water sources. Phoenix performs more than five million tests and measurements each year to meet or surpass stringent water quality regulations. The city reuses nearly all of its wastewater on crops, wetlands and energy production. Visit phoenix.gov/water.
About SunPower SunPower Corp. (NASDAQ: SPWR) designs, manufactures and delivers the highest efficiency, highest reliability solar panels and systems available today. Residential, business, government and utility customers rely on the company's quarter century of experience and guaranteed performance to provide maximum return on investment throughout the life of the solar system. Headquartered in San Jose, Calif., SunPower has offices in North America, Europe, Australia, Africa and Asia. Visit sunpowercorp.com.
SunPower is the registered trademark of SunPower Corp. All other trademarks are the property of their respective owners.SOURCE SunPower Corp.
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