September 24, 2008
All Power Companies in Florida Now Approved to Issue Energy Credits for Customers with Grid Tie Solar and Wind Energy Kits Installed in Their Homes
MIAMI--(BUSINESS WIRE)--Electron Solar Energy (OTC:ESRG), an international distributor of alternative energy systems, announced that on September 4, 2008, the Public Service Commission of the State of Florida (“PSC”) approved agreements from five of the state's investor-owned power companies which allow residential customers to receive credit for electricity that they feed back to the grid from solar panels and other forms of renewable energy.
President and CEO of Electron Solar Energy, Christopher Quinn, commented enthusiastically, “We applaud the PSC's decision to implement a very favorable cost incentive state-wide to promote the use of customer-owned renewable energy. The concept of 'net metering' allows any excess power generated from alternative sources of energy to go into the grid and be credited back to the customer.”
“Headquartered in Miami, our roots are in providing complete solar energy panel kits to customers in other countries. With this new legislation in place we look forward to great new opportunities with the residents and businesses of the State of Florida. We anticipate increased sales for renewable energy systems throughout our communities, including commercial buildings with rooftops, which are also now eligible for net metering,” concluded Quinn.
The new measure applies to customers of Florida Power & Light (FPL), Progress Energy Florida, Gulf Power, Tampa Electric and Florida Public Utilities. The PSC also has expanded eligibility from renewable systems of 10 kilowatts or smaller to two megawatts, which means large businesses with solar panels occupying rooftops can now qualify for the program. For more information on the PSC, visit http://www.psc.state.fl.us/.
“Safe Harbor” Statement: Certain statements made in this press release are forward looking in nature and, accordingly, are subject to risks and uncertainties. The actual results may differ materially from those described or contemplated.