WILLISTON, Vt., July 13, 2011 /PRNewswire/ — Williston, Vt.-based AllEarth Renewables has announced a new Vermont dealer-installer partnership, making their innovative solar tracker systems available around the state.
The dealer network expansion coincides with Vermont’s new statewide solar customer benefit, enacted as part of Act 47, which assures net metered solar installations receive at least $0.20 per kilowatt hour from utilities for the energy produced.
AllEarth Renewables, the local manufacturer and installer of the AllSun Tracker, will partner initially with four local solar installers to cover the state:
- Solar Tech, of Sutton, will serve the northeast
- ReKnew Energy Systems, of White River Junction, will serve the east-central region
- BackSpin Renewables, of Middlebury, will serve the western central region
- Integrated Solar, of Brattleboro, will serve the southern region
- AllEarth Renewables and their subcontractors, such as J.A. Morrissey, Inc. and Engineers Construction, Inc., will continue to provide installations in the northwestern region
“As we look to future markets beyond Vermont, we are committed to continue innovating and growing the business here in state,” said David Blittersdorf, president and CEO of AllEarth Renewables. ”Homeowners and businesses are demonstrating their interest in the investment of affordable, local renewable energy. This new partnership with several strong businesses around the state will continue to help make solar possible to more Vermonters. The solar market has a bright future here.”
The company’s 4.2kW trackers can be installed through a Power Purchase Agreement for a low up-front cost with the option to buy the system after five years at a significantly reduced rate. A single tracker will produce an average of 490kWh of energy per month, enough to power the majority of a Vermont home.
AllEarth employs 26 full-time staff and five seasonal staff, and has manufactured and installed over 800 solar tracker systems. Their AllSun Tracker uses GPS technology to follow the sun throughout the day to boost solar energy production by over 40 percent.
The Williston-based renewable energy company and CEO was recently listed as among 25 of America’s Most Promising Social Entrepreneurs of 2011 by Business Week and the company was ranked by Vermont Business Magazine as the state’s fastest growing company over the last five years.
About AllEarth Renewables, Inc. www.allearthrenewables.com AllEarth Renewables is a Vermont company that specializes in the design, manufacture and installation of complete grid-connected wind and solar renewable energy systems that lessen dependence on nuclear and fossil fuels and reduce greenhouse gas emissions. The company’s goal is to provide turnkey products that harness the power of wind and sun for homes and businesses while creating sustainable, well-paying jobs.
Power Purchasing Lowers the Barrier to Solar
We know that AllSun Trackers are widely available and that now there are even more installers available. But what does that mean for your budget?
With the costs of solar panels coming down by as much as 40% over the past 24 months, while comparative fossil fuel prices steadily rise, solar energy is a more affordable option.
The AllEarth Power Purchase Agreement (PPA) allows you to pay only $4,400 to get your own solar energy system up and running. After that, you pay AllEarth for your electricity (exactly as you would have paid your utility), and at 5 years you have the option to purchase the system. This program reduces the average out of pocket down payment from about $15K to $4K, making it even easier for you to go solar:
The highlights of AllEarth PPA:
- The homeowner pays AllEarth Services (AES) $4,400, half of which ($2,200 is refunded at the end of the PPA.
- The homeowner agrees to purchase power from AES for at least 5 years at $0.20/kWh. This is offset by the new net metering credit of $0.20/kWh (base rate + adder) created by the newly enacted VT energy bill.
- After 5 years (or longer if the homeowner wishes) the system can be purchased for roughly 30% of the original price (approx $32k), called the “fair market value”, for about $10K. After applying the $2,200 from the original deposit it comes to a net cost of under $8,000.
- AES is able to do this by monetizing the federal and state tax credits, and using the depreciation that’s not available to homeowners.
Add this up and it means that with the PPA, for less than $8,000 – and 5 breakeven years of electric costs – the homeowner can own an array producing 7,000+ kWh/year.
Commercial incentives for businesses are even more enticing. With a 100% bonus depreciation until Dec. 31, 2011, 30% Federal Tax Credit or Grant and 7.2% VT Business Investment Tax Credit, as much as 40% of AllSun Trackers can be paid for by incentives. VT Non Profits also get special incentives of up to $100,000 or 50% of installation cost, making this an affordable solution for them as well.
The AllSun Tracker design gives you 40% more power for your money plus the opportunity to watch your utility meter spin backwards! With generous incentives, affordable payment plans, excellent warranties and a 30-year life span, the time to act is now.
GET Aug2011 page 18