SunEdison Supplies Battery Storage in Net-Zero Energy Home Pilot Project in Fontana, Calif.
BELMONT, Calif., Sept. 16, 2015 /PRNewswire/ -- SunEdison, Inc. (NYSE: SUNE), the largest global renewable energy development company, today announced that it is supplying advanced battery systems in a project to build 9 net-zero energy homes in Fontana, Calif. The project is led by the Electric Power Research Institute (EPRI), with the support of the California Public Utilities Commission, and lead project partners major national homebuilder Meritage Homes and local utility Southern California Edison.
The research institute is leading the project to evaluate how net-zero energy homes that generate and store their own energy impact the local electricity grid. This project is important for future grid planning because under the California Public Utilities Commission's Energy Efficiency Strategic Plan, California aims to have all new homes be net-zero starting in 2020, and all new commercial buildings by 2030.
"With this project, we're pioneering solutions that will help Californians prepare for the future of the grid, where homes and businesses will be generating their own electricity on a much greater scale than we're seeing today," said Tim Derrick, SunEdison's general manager of Advanced Solutions. "By installing SunEdison's advanced battery systems on these net-zero energy homes, we're able to store solar-generated electricity and better manage the interactions of that electricity with the grid."
"EPRI is leading this project to gain insights into how a community of net-zero homes interacts with the local grid," said Ram Narayanamurthy, EPRI's project lead. "We're using advanced controls and energy storage to manage these mini, distributed power plants that are expected to play a much larger role in the grid of the future."
"Meritage Homes is excited to participate in this pivotal project," said C.R. Herro, Meritage Homes' vice president of Energy Efficiency and Sustainability. "Net-zero energy homes will be energy efficient, more cost effective to run, and have backup power in the event of a power cut."
SunEdison designed the advanced battery system, and partnered with Eguana Tech, LG Chem and Geli for this project, and will monitor and control the system to optimize the energy savings and load profile.
Meritage Homes has already started construction on the homes and expects to complete the first homes by the end of September.
Further information about the project is available at: http://www.meritagehomes.com/search/southern-ca/sierra-crest-the-grand-canyon-collection.
About SunEdison
SunEdison is the largest global renewable energy development company and is transforming the way energy is generated, distributed, and owned around the world. The company develops, finances, installs, owns and operates renewable power plants, delivering predictably priced electricity to its residential, commercial, government and utility customers. SunEdison is one of the world's largest renewable energy asset managers and provides customers with asset management, operations and maintenance, monitoring and reporting services. Corporate headquarters are in the United States with additional offices and technology manufacturing around the world. SunEdison's common stock is listed on the New York Stock Exchange under the symbol "SUNE." To learn more visit www.sunedison.com.
Forward Looking Statements
This communication contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Exchange Act. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. These statements involve estimates, expectations, projections, goals, assumptions, known and unknown risks, and uncertainties and typically include words or variations of words such as "expect," "anticipate," "believe," "intend," "plan," "seek," "estimate," "predict," "project," "goal," "guidance," "outlook," "objective," "forecast," "target," "potential," "continue," "would," "will," "should," "could," or "may" or other comparable terms and phrases. All statements that address operating performance, events, or developments that SunEdison expects or anticipates will occur in the future are forward-looking statements. They may include estimates of expected cash available for distribution (CAFD), earnings, revenues, capital expenditures, liquidity, capital structure, future growth, and other financial performance items (including future dividends per share), descriptions of management's plans or objectives for future operations, products, or services, or descriptions of assumptions underlying any of the above. Forward-looking statements provide SunEdison's current expectations or predictions of future conditions, events, or results and speak only as of the date they are made. Although SunEdison believes its expectations and assumptions are reasonable, it can give no assurance that these expectations and assumptions will prove to have been correct and actual results may vary materially.
By their nature, forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those suggested by the forward-looking statements. Factors that might cause such differences include, but are not limited to, a variety of economic, competitive, and regulatory factors, many of which are beyond SunEdison's control and are described in SunEdison's Form 10-K for the fiscal year ended December 31, 2014, as well as additional factors it may describe from time to time in other filings with the Securities and Exchange Commission. You should understand that it is not possible to predict or identify all such factors and, consequently, you should not consider any such list to be a complete set of all potential risks or uncertainties.
SunEdison disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions, factors, or expectations, new information, data, or methods, future events, or other changes, except as required by law.
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SOURCE SunEdison, Inc.
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