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Chevron To Supply Solar Power To California Town

September 10, 2012

Solar energy is dead? Maybe, if you look at what’s happened in recent months to the share prices of Suntech Power (STP :NYSE), Yingle Green Energy (YGE :NYSE), JA Solar (JASO :NYSE) and a few others but Chevron (CVX :NYSE), known for its profits and diverse business models, would argue that it’s not.

Chevron Energy Solutions, one of the largest solar installers for U.S. public sector buildings, has announced they will install solar arrays and other energy saving infrastructure for the city of Dublin, California.

The City of Dublin is financing the program through expected energy savings that are expected to total $14 million over the next 25 years. The city is also expected to receive $650,000 in solar incentives and rebates.

Along with the solar arrays, Chevron will improve 3,000 streetlights with LED technology.

Considering Chevron’s track record of profits, the San Ramon, California-based company certainly isn’t signing this agreement to help out a neighboring town out of charity. There’s still plenty of money to be made investing in solar, it’s just a matter of selecting the right company to invest in.

Shares of Chevron were down 0.04 percent today.

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