LOS ANGELES--(BUSINESS WIRE)--Apr. 18, 2013--
Bank, lead bank of U.S. Bancorp (NYSE: USB), and SolarCity (Nasdaq:
SCTY), are installing solar panels on top of U.S. Bank branches and on
newly constructed canopies over parking areas at a select number of U.S.
Bank locations in Los Angeles, San Diego, Inland Empire and Orange
County. The companies will hold grand openings at some of the locations
in the coming weeks.
SolarCity, a leading provider of clean energy, will sell renewable
energy to U.S. Bank through a Power Purchase Agreement (PPA). The new
solar carports and rooftop systems, which collectively approach one
Mega-Watt (MW) in generation capacity, will generate solar electricity
for the branches while providing shaded parking for customers.
In addition to generating energy savings, the solar systems are expected
to reduce U.S. Bank’s carbon dioxide (CO2) emissions by more
than 35 million pounds, which is equivalent to taking 3,068 cars off the
road or planting more than 19,000 trees, based on computations using
data from the Environmental Protection Agency (EPA).
“We are always evaluating new ways to align our business practices and
customer offerings with our sustainability goals,” said Sean Foley,
president of U.S. Bank in Southern California. “U.S. Bank has long been
a leader in renewable energy investing and we are looking forward to
having our own solar generation on-site while creating a comfortable
banking environment for our customers.”
U.S. Bank and SolarCity will celebrate the installations with grand
opening events in coming weeks. The U.S. Bank branch locations that will
display new solar installations include:
9467 Milliken Ave. in Rancho Cucamonga;
393 W. Foothill Blvd. in Claremont;
25972 Muirlands Blvd. in Mission Viejo;
8444 Florence Ave. in Downey;
10942 Pine St. in Los Alamitos;
9918 Hibert St. in San Diego;
5100 Federal Blvd. in San Diego and
201 W. Bastanchury Rd. in Fullerton.
“SolarCity has benefitted greatly from the environmental leadership of
companies such as U.S. Bank,” said Jim Cahill, SolarCity’s regional vice
president of Southern California. “We are honored that U.S. Bank chose
SolarCity as its clean energy provider.” SolarCity sustains a staff of
468 employees working out of six operations centers in Southern
California and is looking to fill more green jobs around the country.
SolarCity® (NASDAQ: SCTY) provides clean
energy. The company has disrupted the century-old energy industry by
providing renewable electricity directly to homeowners, businesses and
government organizations for less than they spend on utility bills.
SolarCity gives customers control of their energy costs to protect them
from rising rates. The company offers solar power, energy efficiency and
electric vehicle services, and makes clean energy easy by taking care of
everything from design and permitting to monitoring and maintenance.
SolarCity currently serves 14 states and signs a new customer every five
minutes. Visit the company online at www.solarcity.com
and follow the company on Facebook
About U.S. Bank
U.S. Bank has 674 branches and more
than 7,000 employees in California, which is more than double the size
it was in California in 2008. Bank Technology News named U.S. Bank one
of “America’s Greenest Banks” in 2011 and 2012. U.S. Bancorp (NYSE:
USB), with $355 billion in assets as of March 31, 2013, is the parent
company of U.S. Bank, the 5th largest commercial bank in the United
States. The company operates 3,080 banking offices in 25 states and
5,056 ATMs and provides a comprehensive line of banking, brokerage,
insurance, investment, mortgage, trust and payment services products to
consumers, businesses and institutions. Visit U.S. Bancorp on the web at www.usbank.com.
Source: U.S. Bank / SolarCity
Teri Charest, U.S. Bank, (612) 303-0732,
Shah, SolarCity, (650) 963-5674,