SunPower to Build 16-MW Solar Plant for UC Davis
The solar system manufacturer SunPower Corp. (SPWR) and the University of California, Davis are building a 16-MW ground mounted solar power plant. The plant is scheduled to come online in 2015 and will provide nearly 14% of the electricity needs of UC Davis.
The objective of this alternate energy project is to lower the dependence on fossil fuel based power generation. Post completion, the solar project will fulfill nearly 33% of the power needs of the UC Davis campus from eco-friendly sources.
For this project SunPower will utilize its SunPower Oasis Power Plant technology. This technology uses a single-axis tracking method to position the solar panels in such a way that it tracks the sun’s rays throughout the day, enhancing energy capture by up to 25% over fixed-tilt solar technology. As a result, a lesser number of units and smaller lots of land are required to generate more power than the fixed-tilt systems, making it more cost effective.
The UC Davis plant will be built on a 70-acre site south of Interstate 80. SunPower will design, construct and operate the project. SunPower has already worked on a 4-MW solar plant in UC Davis and the new project will help UC Davis to achieve its objective of being carbon neutral by 2025.
The demand for alternate energy is on the rise on a global scale egged on by increasing government regulations. Solar cell demand is particularly hot in the emerging markets of China, India and Japan.
China is targeting to install 70 GW of solar power by 2017; India is aiming to install 20 GW of solar power by 2022; and Japan is stepping up its solar panel installation post the deactivation of its nuclear reactors. Indeed, the long-term outlook seems bright. So, the U.S. solar manufacturers like SunPower and First Solar Inc. (FSLR) and Chinese companies like Trina Solar Ltd. (TSL) are looking for further opportunity in these regions.
SunPower Corporation, a subsidiary of TOTAL S.A. (TOT), currently holds a Zacks Rank #3 (Hold).
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