Google Community Solar Program March 10, 2010
Agenda – Google Community Solar Program • Section I - Overview • Benefits of Solar • The Google Program • SunPower Overview • Cobalt Power Systems Overview • Section II – Nuts and Bolts • How Solar Works • Time of Use (TOU) Net Metering • Financial Incentives • Monitoring • Section III • Google Program Details • Two Case Studies • Financing • Next Steps
Economic, Environmental and Social Benefits of Solar 1 4 2 5 3 • Eliminate or significantly reduce your electricity bills Attractive local/state/federal incentives make solar affordable Hedge against rising and volatileelectricity prices • Over 25 years, a 5 kW system will benefit the environment equivalent to planting 25 acres of trees or not driving 200,000 miles Reduced carbon footprint & zero emissions — Be part of the solution!
What is the Google Community Solar Program? • An exciting opportunity for employees of Google to - • Learn how you can benefit from installing solar on your home • Get a free proposal • Participate in a great group-purchase discount • Beat the coming rebate reduction • More information and sign up: • via web: www.cobaltcommunitysolar.com/Google • via phone: 650-938-9574 • via email: email@example.com
SunPower – the World Leader in Solar Home in Los Altos, CA San Jose Tech Museum, San Jose, CA Nellis Air Force Base, Nevada Commercial Power Plants Residential Largest Largest Largest Residential Install Base in North America Solar Power Plants in North America Commercial Install Base in North America In 1985, SunPower founder, Dr. Richard Swanson, Professor of Electrical Engineering at Stanford University, led a team to develop the unique technology on which SunPower products are based. Through the next 25 years, SunPower has continued to refine high efficiency photovoltaic systems, and today is the recognized leader.
Why SunPower? - The Planet’s Most Powerful Solar • Best Technology – SunPower Solar Panels are 40% more efficient than a typical solar panel • Best Warranty – 10 year materials and workmanship , 25 year power output • Design - Unique design combines high efficiency and a sleek, black appearance to blend elegantly with the roof. Conventional 170 Watts SunPower 225 Watts
Same Energy with Fewer SunPower Panels 2.5-kW System Under Real World Conditions 150 square feet 11 SPWR 225W Panels 210 square feet 15 Conventional 170W Panels SunPower Panels: 18.1% efficiency Conventional Panels: 13.0% efficiency
Cobalt Power Systems Overview 885 Maude Ave. Mountain View, CA 94043 Tel 650-938-9574 www.cobaltpower.com • 7 years experience; over 450 systems installed • Specialize in residential solar • SunPower Premier Dealer™ • Diamond Certified™ • Licensed, bonded, insured • Strong community involvement: GRID Alternatives, Sierra Club, Atherton GreenSTART, CALSEIA, Mt. View Chamber of Commerce, NCSEA, SolarTech
How Solar Works - Overview Solar Panels - Capture the sun’s energy and convert it to DC power. Inverter - Converts DC power to AC power. Electrical Panel - The AC power is fed to the main panel for use by your home. Utility Meter - Net Metering- your meter will spin backwards when you generate more electricity than you use. Electric Grid - Your home will still be connected to the utility grid. 1 5 4 3 2
Time of Use (TOU) Net Metering • When your meter is spinning backwards, the utility must pay you the retail rate • On-Peak electric rates are 3x Off-Peak rates • Sell High / Buy Low • E-6 On-Peak is 1-7 PM, Mon-Fri, Summer only • Summer is May-Oct • Install a smaller system with a bigger effect on your bill
Financial Incentives Available for Google Employees • Google Community Solar Program – Up to $4,000 Discount • California Rebate • Currently $1.10/Watt • Will drop by 40% in the April/May/June 2010 time frame • Can lock in your rebate before the reduction • Federal Tax Credit • Part of the $700B stimulus bill, Oct 2008 • 30% tax credit – can include all system costs • No cap • Not subject to AMT (Alternative Minimum Tax)
Monitor Your Energy Production An intuitive interface to view your real-time and cumulative solar energy output • For maximum flexibility and convenience, we offer three ways to access your system: • Online through a web-based interface - you can slice and dice your energy information over hours, days, months, years. • On a wireless, wall-mounted display - which we will install in any location in your home. • With our monitoring app for the iPhone™ or iPod touch® - you can access your information wherever you are, and share your SunPower experience with friends. • App for Android phones is in development
Google Community Solar Program • Goal: To bring down the cost of solar with community pricing • Expands current Google/SunPower discount of $0.30/W • Timeline: Sign a solar agreement between March 1 and May 15, 2010 • May not be combined with any other discount 13
Example 1 – Smaller System Assumptions: 5.4%/yr electricity cost increases; 28% Fed and 9.3% CA tax bracket; 5.75% APR if financed, S facing 4:12 comp roof, minimal shade, 90% reduction of bill, Tier 2 discount. Consult your financial advisor to verify applicability in your particular case
Example 2 – Larger System Assumptions: 5.4%/yr electricity cost increases; 28% Fed and 9.3% CA tax bracket; 5.75% APR if financed, S facing 4:12 comp roof, minimal shade, 90% reduction of bill, Tier 2 discount. Consult your financial advisor to verify applicability in your particular case
Financing Options Through SunPower • Equity Loans and Lines of Credit • Tax-deductible interest* • No money down • Variety of loan options to fit your needs • Solar Loans • Loans up to $50,000 • Extended repayment options • No loan fees or prepayment penalties • Low fixed rates Sample system in San Jose, CA • With a financed solar system you set • your monthly expense, not the utility co. *please consult with your tax advisor
What the Process Looks Like Step 3 Cobalt will handle all paperwork for rebate, local permit, and utility Interconnect Agreement Step 5 Cobalt will install and test your system and obtain final city signoff. Then enjoy your savings! Step 2 We will provide you a detailed system proposal - including all rebates and incentives available for your home Step 4 We will schedule the installation, and materials will be delivered. Typical lead time is 2 months, and installation is 1 week or less Step 1 Cobalt will conduct a free site visit to assess your roof and electricity bills • As a SunPower Premier Dealer™, Cobalt Power Systems has committed to: • provide customers with superior levels of service; • participate in stringent post-installation site quality inspections; • complete rigorous training in the installation of SunPower products.
If you have additional questions, or would like to sign up for a free evaluation, please contact us: • www.cobaltcommunitysolar.com/Google • Info on the program • Video of this presentation • FAQ’s • Ask questions (chat function) • Sign up for 5 minute phone consultation • via phone • Call 650-938-9574 • via email • firstname.lastname@example.org • Thank you!