1) First Lady of California, Maria Shriver, (left) speaks after receiving a $65,000 check for the Special Olympics during the dedication ceremony at Pacific Park on Wednesday, May 28, 2008, while  Chairman of the Special Olympics Board, Patrick McClenahan (right) (CBS2/KCAL9) and two of their athletes (middle) give support. 2) Mary Ann Powell, CEO of Pacific Park, presents Bobby and Maria Shriver with a $65,000 check for the Special Olympics.  3) Mary Ann Powell and Santa Monica Mayor Herb Katz push the button to starts the fireworks and light show.  4,5) Maria Shriver with son Christopher, 10, (right) and his friends are the first passengers to ride the new Ferris wheel on Wednesday night. 6) Fourth-grader Christopher Schwarzenegger 10, shoots baskets at Pacific Park after riding on the Ferris wheel. 7,8,9) A spectacular firework show lights up the evening sky during the Pacific Wheel dedication ceremony on Wednesday. The new Ferris wheel cost $1.5 million and is the only solar-powered Ferris wheel in the world. It has 160,000 LED lights and is 75 percent more energy efficient than its predecessor. The previous wheel was auctioned on Ebay for $132,000, with half the proceeds going to the Special Olympics. The previous wheel was purchased by real estate developer Grant Humphreys, chief executive officer of Humphreys Real Estate Investments in Oklahoma City. Over the last 12 years, more than 3 million people rode the wheel. The Pacific Wheel appeared in 105 photo shoots, 71 television commercials, 69 television shows, 28 films -- including the current hit "Ironman" -- and 13 music videos, according to Pacific Park.