Real Goods Solar (dba RGS Energy) to Deploy 1.1 MW Solar Power System for Ironhouse Sanitary District
Solar Project Expected to Reduce Electricity Costs by More Than $5.9 Million Over the Next 25 Years
Louisville, Colo. – August 29, 2013 – RGS Energy, the commercial and utility division of Real Goods Solar, Inc. (NASDAQ: RSOL), has been selected by Ironhouse Sanitary District (ISD) to deploy a 1.1 megawatt (MW) solar power system at its water recycling facility and administration building in Oakley, California.
RGS Energy will design, install, monitor and maintain the solar power system at the water recycling facility and the administration building. The installation will be comprised of a 1 MW single-axis tracking system and 60 kilowatt carport system, which will generate more than 2.3 million kilowatt hours of solar electricity per year to power the facilities. Construction is scheduled to begin in the fall of 2013 and be completed in the first quarter of 2014.
ISD’s current electrical cost for these facilities is more than $600,000 per year, but harnessing energy from the sun is expected to reduce the company’s cost of electricity by at least $95,000 in the first year alone, with a total savings of more than $5.9 million over the next 25 years. Over that 25 year period, the solar energy produced is expected to offset more than 89 million pounds of carbon dioxide emissions, or equivalent to taking more than 8,400 cars off the road (per EPA-based data).
RGS Energy’s financing partner, Smart Energy Capital, brokered a power purchase agreement between ISD and Constellation Energy Group, an energy supplier and business unit of Exelon. The agreement allows ISD to purchase the solar energy generated on site at less than market rates while funding 100% of the installation cost.
“RGS Energy showed us how going solar can be a sound and easily affordable investment, while providing significant environmental benefits to the community we serve,” said Jenny Skrel, ISD’s district engineer. “This new solar power system will drastically reduce our electrical costs and decrease our carbon footprint, while requiring zero capital to implement.”
Tim Seamans, RGS Energy’s general manager, commented: “We are proud to bring 100% clean renewable energy to the Ironhouse Sanitary District facilities. They are a perfect example of how a water recycling district can better serve the community by trimming costs and being good stewards of the environment.”
About Ironhouse Sanitary District
In existence since 1945, Ironhouse Sanitary District (ISD), located in Oakley, California, utilizes a staff of 32 field and office personnel to maintain sanitary services for nearly 38,000 customers in the Oakley and Bethel Island area. The district treats approximately 2.5 million gallons of wastewater every day at its modern treatment facility. Reclaimed water is applied to 334 acres of agricultural land on Jersey Island and discharged into the San Joaquin River. For more information, visit www.ironhousesanitarydistrict.com.
About Real Goods Solar and RGS Energy
Real Goods Solar, Inc. (RSOL) is one of the nation’s pioneering solar energy companies serving commercial, residential, and utility customers. Beginning with one of the very first photovoltaic panels sold to the public in the U.S. in 1978, the company has installed more than 15,000 solar power systems representing well over 100 megawatts of 100% clean renewable energy. Real Goods Solar makes it very convenient for customers to save on their energy bill by providing a comprehensive solar solution, from design, financing, permitting and installation to ongoing monitoring, maintenance and support. As one of the nation’s largest and most experienced solar power players, the company has 14 offices across the West and the Northeast. It services the commercial and utility markets through its RGS Energy division. For more information, visit RealGoodsSolar.com or RGSEnergy.com, on Facebook at http://facebook.com/realgoodssolar and on Twitter at http://twitter.com/realgoodssolar.
This press release includes forward-looking statements relating to matters that are not historical facts. Forward-looking statements may be identified by the use of words such as “expect,” “intend,” “believe,” “will,” “should” or comparable terminology or by discussions of strategy. While Real Goods Solar believes its assumptions and expectations underlying forward-looking statements are reasonable, there can be no assurance that actual results will not be materially different. Risks and uncertainties that could cause materially different results include, among others, introduction of new products and services, completion and integration of acquisitions, the possibility of negative economic conditions, and other risks and uncertainties included in Real Goods Solar’s filings with the Securities and Exchange Commission. Real Goods Solar assumes no duty to update any forward-looking statements.
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