The Irvine (Calif.) Unified School District (IUSD) Board of Education has approved a plan to enter into an agreement with SunEdison, a subsidiary of MEMC Electronic materials, and SPG Solar to establish solar photovoltaic power systems at 21 sites throughout the district.
The systems will save the district $17 million in energy expenses over 20 years based on conservative estimates, according to deal participants. Under the terms of the power purchase agreement, the Irvine Unified School District will incur no upfront capital costs. SunEdison will finance, build, operate and maintain the solar power systems, with IUSD purchasing energy with long-term pricing.
