By GlobeNewswire, October 22, 2013, 09:00:00 AM EDT
One-Megawatt System Among State's Largest
HAMDEN, Conn., Oct. 22, 2013 (GLOBE NEWSWIRE) -- SolarCity (Nasdaq:SCTY) have begun work on a 1-megawatt solar system for the South Central Regional Water Authority in Hamden, CT. The ground-mounted solar system is expected to include more than 4,000 solar panels—making it one of the largest in the state. The Regional Water Authority (RWA) will save money by paying less for the solar power than they're currently paying for utility power while reducing both pollution and water use.
"This solar photovoltaic system, one of the largest of its kind in Connecticut, will allow the Authority to be more efficient and lower our energy costs. These savings are passed on to our customers in the form of reduced rate increases," said Larry L. Bingaman, the Regional Water Authority's President and CEO.
SolarCity, with Connecticut operations based in Rocky Hill, will install, finance and maintain the panels. The 1-megawatt (mW) ground-mounted system is expected to provide more than 1.4 million kilowatt-hours (kwh) of energy each year—enough to power more than 120 average-sized Connecticut homes. The project supports the RWA's strategic goals of operating more efficiently and promoting environmental sustainability, and fosters the Town of Hamden's "Clean and Green" initiative.
"The South Central Connecticut Water Authority's use of clean energy is not only saving money for rate payers, it's also saving water by offsetting dirty energy sources that use water as part of the electricity generation process," said Leon Keshishian, SolarCity's East Coast Regional Vice President. "Solar makes sense for all types of businesses, municipalities and homeowners here in Connecticut."
SolarCity can provide Connecticut residents, businesses and municipalities the ability to go solar simply and affordably, in many cases, for less than they pay for utility bills. Interested homeowners, municipalities and businesses in Connecticut can contact SolarCity directly at 1-888-SOL-CITY (1-888-765-2489) for a free, no-obligation solar consultation or visit SolarCity online at: www.solarcity.com/request.
SolarCity® (Nasdaq:SCTY) provides clean energy. The company has disrupted the century-old energy industry by providing renewable electricity directly to homeowners, businesses and government organizations for less than they spend on utility bills. SolarCity gives customers control of their energy costs to protect them from rising rates. The company offers solar power, energy efficiency and electric vehicle services, and makes clean energy easy by taking care of everything from design and permitting to monitoring and maintenance. SolarCity currently serves 14 states and signs a new customer every five minutes. Visit the company online at www.solarcity.com and follow the company on Facebook& Twitter.
This release contains forward-looking statements including, but not limited to, statements regarding expected energy production, cost savings and environmental benefits. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved, if at all. Forward-looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward looking statements. You should read the section entitled "Risk Factors" in SolarCity's quarterly report on Form 10-Q, which has been filed with the Securities and Exchange Commission and identifies certain of these and additional risks and uncertainties. SolarCity does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.
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Source: SolarCity Corporation