Applied Materials, Inc.(NYSE: AMAT), announced today that it will install over 1.9 megawatts of solar power generation capability at its research campus in Sunnyvale, California. This is believed to be the largest solar power installation on an existing corporate facility in the United States and will be rolled out in three phases.
“When the project is complete we will have a silent, non-polluting 1.9 megawatt power plant on what is currently open roof space and parking areas, and a great hedge against future energy cost increases,” said Mike Splinter, president and CEO of Applied Materials. “As we pursue our strategy to significantly drive down the overall solar cost-per-watt we feel it is important to lead through example and that installations of this size will help lower consumer cost and spur overall market growth.”
Applied Materials will start installing panels later this year that use a variety of state of the art solar technologies. Once completed in 2008, Applied Materials’ system will generate over 2,330 megawatt hours annually – the equivalent of powering 1,400 homes.
This megawatt installation by a single company is certainly the way for all companies to go in the future. This is the ultimate example of distributed renewable power. Applied Materials has its own interests also, recently entering the market as a supplier of equipment to manufacture solar cells and solar panels that they believe will reduce the cost of this equipment through greater efficiency in production.