HP To Build 1-Megawatt Solar Power System

November 27, 2007

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HP will install a large-scale solar power system at its San Diego facility and buy windpower to run a number of facilities in Ireland. The company has a goal to reduce its energy use by 20 percent by the end of 2010.

HP’s agreement with SunPower covers installation of a 1-megawatt solar electric power system and required maintenance of the system for the next 15 years. HP will buy back solar power from SunPower at a reduced, locked-in rate. The system will be financed and owned by a third-party financier.

Initial estimates indicate that the project will save HP approximately $750,000 in energy costs during the next 15 years. HP also will earn renewable energy credits as the installation will reduce carbon dioxide emissions by more than 1 million pounds per year, or nearly 16 million pounds during the next 15 years.

HP is also creating a solar employee purchase program in the U.S. Employees will receive a rebate of up to $2,000 from SunPower when they install a solar power system for their homes. HP will match the SunPower rebate of up to $2,000 per installation.

The installation will include 5,000 solar panels atop five of the seven buildings. The panels will provide more than 10 percent of HP’s energy use at the San Diego facility.

The contract with Airtricty will ensure that nearly 90 percent of HP’s energy use in Ireland is renewable, exceeding the company’s 2007 target for carbon emission reductions. The electricity will be generated by both onshore and offshore wind farms.

Through the contract, HP will purchase more than 80 gigawatt-hours of renewable energy. It is estimated that the agreement will save HP approximately $40,000 over the year-long contract.

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