Tucson Electric Power (TEP) Company Research Report

Company Overview

Name:

• Tucson Electric Power (TEP)

Mission of the Company:

• To be an exceptional energy provider that positively impacts the lives of employees, customers, and communities.

Founded:

• No information is available

Founders:

• No information is available

Key People:

• No information is available

Headquarters:

• Tucson, Arizona, USA

Number of Employees:

• More than 1,500

Revenue of the Company:

• No information is available

Known For:

• Providing safe, reliable, and affordable electric power to more than 447,000 customers in the Tucson metropolitan area.

• Local leader in community service, volunteerism, and economic development efforts.

• Offering comprehensive energy services through traditional resources and a growing renewable power portfolio.

Products

What Products Do They Offer:

1. TEP GoSolar Home:

• Allows homeowners to buy all of their power from a local 15 MW TEP solar array for a fixed monthly price for 10 years.

2. TEP GoSolar Shares:

• Allows customers to purchase solar energy in flexible "shares" of 150 kilowatt-hours per month.

3. Private Solar Solutions:

• TEP supports customers interested in installing private solar arrays.

High-Level Description of the Products:

• TEP GoSolar Home:

A solar energy program providing fixed-rate solar power for homeowners.

• TEP GoSolar Shares:

A flexible, share-based solar energy purchase program for residential and business customers.

• Private Solar Solutions:

Tools and services to support customers in installing and maintaining private solar power systems.

Key Features of Each Product:

• TEP GoSolar Home:

• Fixed monthly energy rate for 10 years.

• No equipment or maintenance costs.

• Ideal for renters and homeowners, including those whose rooftops are shaded or unsuitable for solar panels.

• TEP GoSolar Shares:

• No up-front expenses or long-term commitment.

• Monthly commitment with the ability to cancel anytime.

• Fixed power supply cost component for up to 20 years.

• Supports expansion of TEP's renewable energy resources.

• Private Solar Solutions:

• Solar Analysis tool for comparing solar options.

• Information on benefits and costs based on individual usage and TEP pricing plans.

Recent Developments

Recent Developments in the Company:

• Work Begins Next Year on TEP’s Largest Solar Plus Battery System:

• Doubling the generating capacity and more than quadrupling the storage capacity at Wilmot Energy Center.

• TEP Receives Highest Employer Honor from U.S. Department of Defense:

• Received the 2024 Secretary of Defense Employer Support Freedom Award.

• TEP Partners with Wildfire to Support Heat Relief Initiative:

• Collaboration with a nonprofit group to combat heat-related deaths.

New Products Launched:

• TEP GoSolar Home:

• New solar array generating power for fixed monthly pricing over ten years.

• Roadrunner Reserve:

• Announced plans for a 200 MW battery energy storage system to be online by 2025.

• Winchester Solar:

• New 80 MW solar and 80 MW energy storage system in Cochise County slated for completion by 2027.

New Features Added to Existing Products:

• No information is available

New Partnerships:

• TEP Partners with Wildfire:

• Partnership with a nonprofit community action group to support heat relief initiatives.

• Fortis Acquisition:

• Among family utilities owned by Fortis, Canada’s largest investor-owned gas and electric utility holding company.

This report compiles the available data regarding TEP and focuses on providing a comprehensive overview of the company, its products, and recent corporate activities.