Press Release: November 27, 2007

HP Expands Renewable Energy Use in its Global Operations

PALO ALTO, Calif., Nov. 27, 2007

HP today announced relationships with two renewable energy providers, SunPower Corp. in the United States and Airtricity in Ireland, as part of the company’s strategy to reduce its global carbon footprint.

Under a power purchase agreement with SunPower, HP will install its first-ever, large-scale solar power installation at its San Diego facility.

The contract with Airtricity will ensure that nearly 90 percent of HP’s energy use in Ireland is renewable, exceeding the company’s 2007 target for carbon emission reductions.

“Switching to renewable energy sources such as solar and wind power makes both environmental and business sense,” said Pat Tiernan, vice president, Social and Environmental Responsibility, HP. “These advances are just part of HP’s comprehensive energy-efficiency program, which we believe is the most aggressive in the technology industry.”

Wind technology in Ireland

HP’s contract with Airtricity, a renewable energy company developing and operating wind farms across Europe and North America, is for the supply of renewable wind energy to a number of its facilities in Ireland for fiscal year 2008. The electricity supplied by Airtricity is generated by both onshore and offshore wind farms.

Through the contract, HP will purchase more than 80 gigawatt-hours of renewable energy. It is estimated that the agreement will save HP approximately $40,000 over the year-long contract. There are also significant environmental benefits – HP will save the release of more than 40,000 tonnes of carbon dioxide, which is equivalent to taking 9,600 cars off the road for one year.

Solar advances in the United States

HP’s agreement with SunPower covers installation of a 1-megawatt solar electric power system and required maintenance of the system for the next 15 years. HP will buy back solar power at a reduced, locked-in rate under the SunPower Access™ program. The HP solar electric system will be financed and owned by a third-party financier, which allows HP to take advantage of the environmental and financial benefits of solar with no upfront capital costs.

Initial estimates indicate that the project will save HP approximately $750,000 in energy costs during the next 15 years. HP also will earn renewable energy credits as the installation will reduce carbon dioxide emissions by more than 1 million pounds per year, or nearly 16 million pounds during the next 15 years.

With this project, HP is taking advantage of incentives provided under the California Public Utilities Commission’s California Solar Initiative, which aims to increase solar energy use statewide.

HP will extend the benefits of solar power beyond its facilities to employees by creating a solar employee purchase program in the United States. Employees will receive a rebate of up to $2,000 from SunPower when using the SunPower Premier Dealer network for the installation of a solar power system for their homes. In addition, HP will match the SunPower rebate of up to $2,000 per installation.

At HP’s San Diego site, the SunPower installation will include 5,000 solar panels atop five of the seven buildings. The panels, which are made up of photovoltaic cells, will convert the sun’s light energy into approximately 1,676,000 kilowatt-hours of electrical energy per year – enough to provide more than 10 percent of HP’s energy use at the San Diego facility.

HP and the Environment

For decades HP has worked to manage its environmental impact by adopting environmentally responsible practices in its product development, operations and supply chain. The company strives to be a global leader in reducing its carbon footprint, limiting waste and recycling responsibly.

HP has implemented a series of environmental advancements in the areas of product development, internal operations and supply chain management aimed at instituting energy-efficient operating practices worldwide, including: In 2007, HP began encouraging all of its logistic and carrier partners to join SmartWay, a voluntary partnership between the U.S. Environmental Protection Agency and the freight industry aimed at reducing fuel consumption, greenhouse gases and other air emissions through better transportation technology. HP’s goals include committing to use more SmartWay carriers, creating a two-tiered authorized vendor list and using HP’s position to educate more carrier partners about SmartWay. In 2006, HP purchased 11 million kilowatt-hours of renewable energy for use in its operations. HP also joined the U.S. Environmental Protection Agency’s Green Power Purchase program – a challenge to Fortune 500 companies to double their renewable energy purchases by the end of 2007. HP plans to increase renewable energy purchases by more than 350 percent by procuring 50 million kilowatt-hours of renewable electricity during 2007. Also in 2006, HP embarked on a joint initiative with the World Wildlife Fund-US to establish an absolute reduction target for greenhouse gas emissions from HP’s operating facilities worldwide, explore efficiency goals for products, educate and inspire others to adopt best practices for climate change initiatives and use HP technology in conservation efforts around the world by 2010.

More information about the company’s environmental programs is available at www.hp.com/environment.

About HP

HP focuses on simplifying technology experiences for all of its customers – from individual consumers to the largest businesses. With a portfolio that spans printing, personal computing, software, services and IT infrastructure, HP is among the world’s largest IT companies, with revenue totaling $104.3 billion for the four fiscal quarters ended Oct. 31, 2007. More information about HP (NYSE: HPQ) is available at http://www.hp.com.


This news release contains forward-looking statements that involve risks, uncertainties and assumptions. If such risks or uncertainties materialize or such assumptions prove incorrect, the results of HP and its consolidated subsidiaries could differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including but not limited to statements of the plans, strategies and objectives of management for future operations; any statements concerning expected development, performance or market share relating to products and services; anticipated operational and financial results; any statements of expectation or belief; and any statements of assumptions underlying any of the foregoing. Risks, uncertainties and assumptions include the execution and performance of contracts by HP and its customers, suppliers and partners; the achievement of expected results; and other risks that are described in HP’s Quarterly Report on Form 10-Q for the fiscal quarter ended July 31, 2007 and HP’s other filings with the Securities and Exchange Commission, including but not limited to HP’s Annual Report on Form 10-K for the fiscal year ended Oct. 31, 2006. HP assumes no obligation and does not intend to update these forward-looking statements.

© 2007 Hewlett-Packard Development Company, L.P. The information contained herein is subject to change without notice. The only warranties for HP products and services are set forth in the express warranty statements accompanying such products and services. Nothing herein should be construed as constituting an additional warranty. HP shall not be liable for technical or editorial errors or omissions contained herein.

About HP

HP Inc. creates technology that makes life better for everyone, everywhere. Through our portfolio of printers, PCs, mobile devices, solutions, and services, we engineer experiences that amaze. More information about HP Inc. is available at http://www.hp.com.