) business wing - Constellation Energy Resources, LLC
- has constructed a 1.6-megawatt solar generation
project in the Somerton School District, Yuma County, Ariz. The
company owns and preserves the solar power systems of the
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The plant is situated in five locations - Desert Sonora
Elementary School, Orange Grove Elementary School, Somerton
Middle School, Tierra del Sol Elementary School and Valle del
Encanto Learning Center. The solar system consists of roughly
6,600 photovoltaic panels on 10 carports and 8 shade structures.
It will generate nearly 2.3 million kilowatt-hours of power
annually. At the same time, it will reduce carbon dioxide
emission by 1,300 tons per year.
Constellation Energy will sell the output to the Somerton School
District over the next 20 years. The long-term power purchase
agreement will help the Somerton School District to get
approximately 60% of its electricity requirements.
We believe Exelon Corporation's efforts toward expansion of its
solar portfolio will create a win-win situation for both the
parties. Per the solar service agreements, the company offers
solar installations without upfront capital investments from
customers and tries to offer electricity at fixed prices lower
than the prices offered by other utilities in the region.
Globally, utilization of renewable energy is rising primarily due
to its clean nature and a growing awareness among the masses
regarding its benefits. These influence utility providers to
shift their mode of power generation to solar, wind and water.
Exelon Corporation generates 55% of its electricity from the
nuclear power plants. The company is currently venturing into
environment-friendly power projects, which will subsequently
enable it to avoid incidents like Japanese nuclear plant
massacres. At present, nearly 10% of Exelon Corporation's total
production comes from renewable sources, with the ratio rising
Constellation Energy itself has installed approximately
28-megawatts of solar projects at the Arizona school districts.
Exelon Corporation intends to invest $800 million between 2013
and 2014 in order to expand its renewable assets.
Apart from Exelon Corporation, other utility providers including
Wisconsin Energy Corporation
) also invest substantial amounts to expand and upgrade their
Chicago, Ill.-based Exelon Corporation, a utility services
holding company, engages in the generation, transmission,
distribution and sale of electricity to residential, commercial,
industrial and wholesale customers. The company currently has a
Zacks Rank #3 (Hold).