Solar Monkey(TM) Selected to Install 555 kW Solar System for Lafayette School District

Innovative Model Lights the Way for School Districts and Colleges
Nationwide
LAFAYETTE, Calif. & IRVINE, Calif.--(Business Wire)--
By the end of 2008 Lafayette School District will be producing the
majority of its own power through rooftop solar energy, and saving
money in the process. They have selected Solar Monkey as their partner
and entered into a Power Purchase Agreement (PPA) with Solar Monkey
who will install, own, and operate solar power systems on 4 of 5 of
the district schools: Burton Valley, Springhill, Lafayette Elementary
School and Stanley Middle School.

The agreement comes after a year of investigative work on the part
of the school district evaluating solar energy integrators and the
different programs and financing options available from each. "We
chose Solar Monkey because we believe their innovative PPA program
provides the best and most flexible model for how school districts can
begin generating solar power quickly and cost-effectively," said Frank
Tom, Lafayette School District Superintendent.

The estimated power savings for the school district are 10% to 30%
over current energy costs annually. Savings can be recouped over the
next 25 years of the contract. But, according to the School Board
President, Stephanie Teichman, "Those savings would be even more
significant if the district bought the panels from Solar Monkey." The
unique structure of this PPA allows customers an option to buy the
system outright at the greater of the buy-out price or fair market
value starting in year six of the contract and then every two years
thereafter. "That price would be lower than what it would cost to
install the system," added Teichman.

Many customers, both private and public, wishing to find new ways
of saving money can enter into a PPA for zero out of pocket with the
intent to purchase the system further down the road. This allows an
opportunity to not only save money immediately and hedge against
increasing electricity prices but to also eventually save
substantially more as a solar system owner.

Market trends have heavily favored a PPA with more end users
wishing to install solar and many of them hoping to do this with
minimal cost out of pocket. "We've focused on developing our PPA
product which, coupled with our excellent control of installation
costs, makes the Solar Monkey PPA a smarter investment for our
clients. We feel that with a strong PPA we are able to offer a
versatile array of options for clients that wish to become more
sustainable and also see substantial savings on operational costs,"
said Matthew McCullough CEO and founder of Solar Monkey.

About Solar Monkey(TM)

Solar Monkey is based in Irvine, California and offers solar power
solutions to commercial and industrial properties owners and public
entities throughout the western United States and has recently opened
an office in Washington DC to service the growing east coast market.
Further information on Solar Monkey and the ways in which Solar Monkey
makes it easy and intelligent to go solar is available at
www.solarmonkey.net.

Solar Monkey
Doug Faust, 650-863-2202
doug@monkeyis.com
www.solarmonkey.net

Copyright Business Wire 2008