ROSEVILLE, CA--(Marketwired - August 01, 2017) - Sunworks, Inc., (SUNW) a leading provider of solar power solutions for agricultural, commercial, industrial (ACI), and residential markets, today announced a new agreement to install a 370 kilowatt (kW) solar system for The Wiseman Company, a leading commercial real estate holdings firm. The construction site, which is part of The Wiseman Company's portfolio of nearly a dozen properties, is located in Fairfield, California. The Sunworks solar installation is scheduled for completion in 2017 and is expected to produce nearly 96% of the property's electricity needs within its first year of operation.
The Wiseman Company is a development, investment and management firm that owns and leases corporate plazas and shopping centers to commercial businesses in Napa, Solano, and Yolo, California. The Wiseman Company has identified the importance of sustainable energy saving solutions to improve its cash flow and support the environmental efforts of local communities in which it operates.
The Sunworks project includes the installation of a "Park N' Shade" carport structure, which provides a modular installation framework for solar panels while minimizing construction costs and accelerating completion. Sunworks anticipates installing 850 SunPower 435 watt panels partnered with Solectria inverters resulting in a space-saving solar array which reduces The Wiseman Company's electricity expenses.
Sunworks' solar power strategies help commercial real estate firms achieve near-zero electricity costs. By offsetting energy expenses, real estate holding firms, such as The Wiseman Company, can re-allocate funds for other strategic and/or operational needs. Sunworks' team of seasoned construction managers integrate solar panels with unique structural solutions, such as Park N' Shade, to maximize energy savings while preserving real estate space for the customer.
Sunworks' Chief Executive Officer Chuck Cargile said, "This innovative, space-saving solution is designed to produce enough energy to be self-sustaining within its first year of operation, providing energy cost savings over the long-term. Our engagement with The Wiseman Company is another example of how we help businesses reduce electricity costs and create savings that can be reinvested in their business."
Founded in 1983, Sunworks, Inc. is a premier provider of solar power solutions. We're committed to quality business practices that exceed industry standards and uphold our ideals of ethics and safety.
Today, Sunworks continues to grow its presence, expanding nationally with regional and local offices. We strive to consistently deliver high quality, performance oriented solutions for customers in a wide range of industries including agriculture, commercial and industrial; federal; public works; utility; and residential. Our dedication to excellence is reflected in our 25-year warranty, a benchmark that we stand by to support our customers above and beyond their expectations.
Sunworks' diverse, seasoned workforce includes distinguished veterans who are devoted to providing the very best customer experience. All of our employees uphold our company's guiding principles each day. Sunworks is a member of the Solar Energy Industries Association (SEIA) and is a proud advocate for the advancement of solar power.
Safe Harbor Statement
Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These risks include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, products, and prospects for sales, failure to commercialize our technology, failure of technology to perform as expected, failure to earn profit or revenue, higher costs than expected, persistent operating losses, ownership dilution, inability to repay debt, failure of acquired businesses to perform as expected, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company.