Nov. 28, 2007 Hewlett-Packard has announced two new renewable-energy contracts aimed at reducing the company's carbon footprint.

Under a new agreement with SunPower, HP will install a 1-megawatt solar electric power system at its San Diego facility. The company estimates that the project will save $750,000 in energy costs over the next 15 years. The project will earn HP renewable energy credits for cutting carbon dioxide emissions by more than 1 million pounds each year.

As part of the SunPower deal, HP will create a solar purchase program for its U.S. employees. Workers are eligible to receive up to $4000 in rebate for installing a SunPower solar power system in their homes.

HP has also agreed to buy more than 80 gigawatt-hours of wind energy from Airtricity, a move that's expected to save the company 40,000 tons of carbon dioxide and $40,000 over the yearlong contract.