) has completed the installation of its high efficiency
1.3-megawatt solar power system on the terrace of Exploratorium's
future home on San Francisco's Embarcadero.
The SunPower solar power system will generate 100% of the
electricity demand at the new state-of-the-art facility that is
expected to open in spring 2013. On the roof of the Exploratorium,
5,874 high-efficiency solar panels have been installed that have
the capacity to offset 33,150 tons of carbon dioxide emissions over
the 30-year life of the system. Moreover, the system generates
power that is sufficient to provide energy to more than 1,000
average American homes each year. This is equal to removal of
approximately 5,910 cars from California's highways. Any idle
energy, which is not used by the Exploratorium, will be fed into
the utility grid for the use of customers of Pacific Gas and
Electric Company ('PG&E"), a subsidiary of
This installation will allow Exploratorium to meet its 'net-zero
energy' goal, thereby reducing the impact on the environment while
slashing significant operational cost.
SunPower Corporation designs, develops, manufactures, markets and
sells high-performance solar electric power technology products,
systems and services worldwide for residential, commercial and
utility-scale power plant customers.
Recently, Tucson Electric Power ("TEP") had modified an agreement
with SunPower to incorporate six megawatts of SunPower's new C7
Tracker technology into a planned facility. The facility also
includes two megawatts of SunPower's T5 Solar Roof Tile technology.
SunPower C7 Tracker is a solar photovoltaic tracking system, which
concentrates the sun's power seven times during day time and can
deliver the lowest cost of electricity for utility-scale solar
Prior to this, SunPower Corporation extended its partnership with
Toshiba. The two companies joined forces to meet the growing demand
for solar cells in Japan. Toshiba has been working with SunPower
since 2010 and has already taken delivery of 70 megawatts (MW) of
high-performance solar panels. Per the new agreement, SunPower will
be delivering another 100 MW of solar panels to Toshiba.
The company is a vertically-integrated solar manufacturer, with
presence along the entire solar value chain from cells through
installation. Moreover, these kinds of installations and supply of
solar panels would result in the emission of clean and renewable
Going forward, we are bullish on the company due to its diversified
channel strategy, a strong presence in the residential and
commercial market, along with its status as a conversion efficiency
leader. The company also has a steadfast focus on spreading its
revenue stream by climbing the solar value chain. All these
catalysts give us greater confidence in the company's future growth
prospects despite the current tepid economic environment.
Currently, the company retains a short-term Zacks #2 Rank (Buy). We
have a long-term Neutral recommendation on the stock.
PG&E CORP (PCG): Free Stock Analysis Report
SUNPOWER CORP-A (SPWR): Free Stock Analysis
To read this article on Zacks.com click here.