Solar Power Inc. will build and own the solar array it installs next year on the roof of… more
The Sacramento Kings have released the price tag for the downtown arena’s huge solar panels — and how much power they expect to generate.
The solar array will be installed by Solar Power Inc. (OTC: SOPW) under a deal announced in March. Officials this week provided new details, reporting that the installation will cost the team $2.5 million and generate 700 kilowatts. Installing solar power is part of the Sacramento Kings ownership’s goal to have its new sports and entertainment center be the most technologically advanced arena in the country, and that includes being efficient and using renewable energy, said John Jacobs, Kings director of public relations.
Solar Power Inc. will build and own the solar array it installs next year on the roof of… more
The Sacramento Kings also is getting electricity storage technology installed by Solar Power Inc. The array is expected to meet about 15 percent of the building’s electricity needs, said Steve Kircher, the company’s Roseville-based chief strategy officer.
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The news comes as Solar Power’s CEO Roger Ye and Chief Financial Officer Amy Liu, who are based in Shanghai, will be meeting in Sacramento on Monday with Kings executives and touring the arena. The Shanghai-based executives are also attending the Solar Power International, a photovoltaic industry trade show in Anaheim this week put on by the Solar Energy Industries Association.
Solar Power, which was founded in Roseville in 2006, moved its headquarters to Shanghai in January. The company has been largely financed with Chinese investment since the recession.
Under a 10-year contract with the Kings, Solar Power will own the array. The company will get signs in the building, on the floor and ongoing in-game marketing. In addition to installing commercial-scale and utility scale solar plants all over the world, the company is building up its business of residential solar.
Solar Power in 2008 installed a similarly sized array on the roof of the Staples Center in Los Angeles. At that time, it was a $6 million installation. In the intervening eight years, the cost of buying and installing solar arrays has fallen by more than half.
Kings offer new details on massive solar array on downtown arena
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