SunEdison (NYSE: SUNE) and Green Charge Networks have teamed up to deliver a solar plus energy storage system to Silicon Valley Power. Silicon Valley Power is the municipal utility serving the City of Santa Clara.
By combining the benefits of solar and energy storage, SunEdison and Green Charge are able to reduce the amount of electricity drawn from the grid.
"Solar plus energy storage is a great way for California customers to realize immediate savings," said Tim Derrick, SunEdison general manager of Advanced Solutions. "Demand charges in California can account for as much as 50 percent of a commercial or municipal customer's electricity bill. By partnering with Green Charge, we're able to deliver a complete solution and address our customers' total energy bill."
The partnership combines SunEdison's solar energy development, asset management and financing services with Green Charge's energy storage system and management platform.
Customers are able to install the system with zero upfront costs by signing a power purchase agreement with SunEdison, and a power efficiency agreement with Green Charge.
Operation and maintenance of the solar power plants will be performed by SunEdison Services, while Green Charge will handle operation and maintenance services for the energy storage systems.
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