1 Solar Projects Michael E Finn October 11, 2012

Santa Fe Elementary– 384kW DC Desert Harbor Elementary– 397kW DC Cheyenne Elementary- 489kW DC Coyote Hills Elementary- 462kW DC Zuni Hills Elementary- 475kW DC Peoria High School- 933kW DC 2 Recommended Sites

System Size Array - 3,140 kW DC Annual Production - 5,505,047 kWh System Array Square Feet – 234,996 Annual Degradation rate -.5% 3 Total District Specifications

20 year term District pays for electricity generated by system – Pays nothing for construction or maintenance Option to purchase at any time based on Fair Market Value Guarantee not to increase costs to District (ARS ) District may increase size of project up to 10% or reduce by up to 20% without risking rebates 4 Contractual Summary

Total System Cost to Vendor- $11.2 M Total System Cost to PUSD - $0 Total Lifetime Incentives - $6.76M – Large Scale Commercial - $4.02 – Schools and Governments - $2.74 Pre-tax kWh rate - $.00771/kWh with 3% accelerator – $.0853/kWh including tax – Current blended rate with tax - $.1298/kWh Total term savings projection of $5.0M – Assumes 4% annual utility inflation factor 5 Financial Details

First deposit due 10/20/12 – Paid for by Kennedy Partners Signed credit purchase agreement due 11/4/12 Interconnection application and second deposit due 1/18/13 – Paid by Kennedy Partners Proof of project advancement required due 3/19/13 Estimated completion date due 6/7/13 Project completion date 9/20/13 6 Timelines and due dates to APS