The stock of SunPower Corporation (NASDAQ:SPWR) closed at $7.60 gaining 6.15% in yesterday’s trading session. SunPower Corp and Redstone Arsenal were a part of the ribbon-cutting event which was meant to serve as the marking for the commencement of operations for the 1-megawatt as well as for the 10-megawatt solar photovoltaic energy storage system. It is crucial to point out that it was at the U.S. Army post which is situated in Alabama.
A person familiar with the matter said, “The solar array and storage project was designed, built and will be operated and maintained by SunPower, with financing provided by Birmingham-headquartered Regions Bank. The solar array, combined with a storage component that maximizes clean electricity use at Redstone is expected to change quite much.”
He got more specific to categorically state that it helped cut down on electricity costs, improve the Army’s energy resilience as well as deliver energy diversity which is much needed at the moment.
It is worth noting that the innovative collaboration between the industry partners, Team Redstone and the Army is a good thing. That is because it sparks about the possibility for the establishment of a cost-effective home-grown renewable energy project which according to experts will move along way helping deliver savings over quite a long period of time. It is about getting the much needed empowerment to move ahead and channel more resources towards the protection of the nation and above all those that the company serves.
Senior Commander working at Redstone Arsenal Lt. Gen. Edward M. Daly while speaking to a group of news reporters disclosed that the collaboration had the SunPower® Oasis® Power Plant system at its cenetrepoint.
Fundamentally, the modular solar power block is designed in such a way that it is able to minimize on the peak power-related demand charges that Redstone Arsenal has always complained about over quite some time.
SunPower executive vice president Nam Nguyen in a recent business conference said that the demand for the solar-and-storage technology had with the passage of time continued to move scale up and the ones that got to reap from the benefits were the customers with high electricity demand.