Blog Coverage SolarCity and Balfour Beatty Communities Help Air Force Housing Across Four States Go Green

Installation of 7 MW of Solar Rooftop Panels Nears Completion

LONDON, UK / ACCESSWIRE / October 28, 2016 / Active Wall St. blog coverage looks at the headline from SolarCity Corp. (NASDAQ: SCTY) as the company and Balfour Beatty Communities announced on October 27, 2016, that they are very close to completing the installation of solar rooftop panels at the Air Force family housing across four states. The two companies have installed more than 26,000 solar panels with total capacity of 7 megawatts. More than 2000 housing units at these four locations will benefit from the project. Register with us now for your free membership and blog access at: http://www.activewallst.com/register/.

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Locations of the project

Balfour Beatty Communities which is the largest provider of military housing and manages the Air Force Family Housing at Travis Air Force Base (AFB) in California, Sheppard AFB in Texas, Tyndall AFB in Florida, and Luke AFB in Arizona. The completion will help military family access clean and affordable solar power.

Commenting on the development, Congressman John Garamendi of California said:

“I am very pleased to see this renewable, green-energy project coming to Travis Air Force Base. These types of partnerships leverage private and community resources to produce a win-win scenario that mutually benefits all partners. This project will save taxpayer money, help build long-term sustainability into the base, and is strategically smart for our military, our environment, and our nation.”

Chris Williams, President of Balfour Beatty Communities said: “We are proud to extend our successful solar energy program to select properties within our Air Force portfolio. When installation is complete at these properties, we will have more than 40 megawatts of solar power generating capacity across our military portfolio. We are quite pleased to be able to partner with SolarCity to bring this clean, sustainable energy resource to so many of our communities.”

Solar power generation capacity at these locations

The solar rooftop panels will yield a total of approximately 7 megawatts (MW) of solar power generation. The largest of the installation is at the Luke AFB in Arizona which has the highest power generation capacity at 3.5 MW. The Tyndall AFB in Florida has power generation capacity of 1.4 MW, Sheppard AFB in Texas has power generation capacity of 1.1 MW, and Travis AFB in California has power generation capacity of a little less than 1MW.

SolarCity which designed and built the solar power systems, will also be responsible for the maintenance of the same. Balfour Beatty Communities along with the US Air Force will benefit from the savings accrued due to low cost of solar power.

About SolarCity’s initiatives

SolarCity had started an initiative in 2011 called the SolarStrong initiative wherein SolarCity would install solar power systems at US Military bases. It not only creates employment opportunities across the country, it also saves taxpayers money, promotes green energy by lowering utility costs. SolarCity has become the largest provider of solar energy at military housing with projects at 37 bases, in 12 different cities. Solar City also has a strong veteran hiring culture and hires veterans for various positions in installation, recruiting, business development, and sales across 90 locations in US.

Stock Performance

At the close of trading session on October 27, 2016, SolarCity’s stock price rose 3.25% to end the day at $20.64. A total volume of 4.76 million shares were exchanged during the session, which was above the 3-month average volume of 2.98 million shares. The stock currently has a market cap of $2.13 billion.

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