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Tech stocks - Tuesday, November 10, 2009

SunPower Delivers Solar To University of California

The University of California school system continues its push to power
its campuses with renewable energy as SunPower (SPWRA:NASDAQ)
announced the completion of a 1MW solar power system at the Merced
campus. Sunpower and Wells Fargo (WFC:NYSE) are financing the system
through a sale-leaseback transaction..

Utilizing SunPower’s T20 Tracker system, UC Merced expects the newly
installed solar power system to produce 20 percent of the campus’
annual electricity needs. On summer afternoons when usually
administrative assistants are the only ones present on most college
campuses, the system is expected to provide 66 percent of UC Merced’s
electrical needs.

While the amount of power being generated by the new solar power
system may not seem significant to most people, the amount of carbon
dioxide that will not be emitted is sizeable. Over the next 30 years,
the 1MW solar power system is expected to remove 45 million pounds of
carbon dioxide. That’s the equivalent of taking 3,600 cars off the
roads permanently.