The Murrieta Valley Unified School District has installed solar power systems totaling more than 2.3 megawatts at all 19 district schools and the district support center. Designed and installed by SolarCity (NASDAQ: SCTY), the new installations comprise more than 10,000 solar panels mounted atop parking-lot carports, and are expected to save the district about $23 million over 25 years. SolarCity is now providing energy services to more than 300 schools and universities in the U.S., and has more than 2,500 employees.
In addition to installing the solar systems, the contract with SolarCity includes a 25-year-performance guarantee and a 25-year-maintenance contract.
The school district spends about $3.2 million each year on electricity. The solar project is expected to save the district, at minimum, $1 million per year for the first five years. Over the next 25 years, the district is projecting to save $23 million by going solar.
“As these solar projects demonstrate, we want to continue to save money while doing our part for our environment,” said Murrieta Valley Unified Assistant Superintendent Bill Olien. “The savings our district will reap from going solar will benefit our general fund to enhance the academic excellence we strive to maintain for our students.”