SolarCity will install, own and manage the solar power system, and HP will purchase the solar electricity generated through a contract with SolarCity. The installation is expected to help HP reduce its utility power costs by about $1 million over the next two decades. The system will provide about 20 percent of the company’s energy.
The City of Palo Alto Utilities (CPAU) serves HP’s corporate headquarters. HP’s system, the largest solar system in Palo Alto to date, increases the amount of local solar power installed in Palo Alto by about 21 percent.
SolarCity provided a package for HP that includes a rooftop solar system with more than 4,000 panels as well as insurance, monitoring, and maintenance throughout the 20 year agreement.