The contract is supported by ~$646K of solar incentive rebates from the local utility company and ~$405K of Federal Tax Cash Grants from the Federal Treasury Department.
WALNUT, Calif., PRNewswire/ — Sunvalley Solar, Inc. (OTC Bulletin Board: SSOL), a leading provider of solar power technology and solar integration systems, announced that it has signed a commercial solar installation contract with Aqua Farming Tech, Inc. in the city of Thermal, California.
The system size of this contract is 294.88 kilowatts and is comprised of 3140 solar panels from Tianwei Solarfilms and two 100KW and two 35KW solar inverters from PV Powered. The total contracted value is approximately $1,375,550. The contract is supported by ~$646K of solar incentive rebates from the local utility company and ~$405K of Federal Tax Cash Grants from the Federal Treasury Department.
The solar system is expected to generate 506 Kilowatt hours of electricity annually. During the peak months of May through October the system will generate surplus power and earn credits with Imperial Irrigation District Utility, offsetting the less sunny winter months.
Installation of the Aqua Farming Tech, Inc. 294.88KW solar system and other systems in the Palm Desert area will begin in early 2011.
About Sunvalley Solar , Inc.
Sunvalley Solar, Inc. is a leading solar system solution provider that offers comprehensive solar energy technology, system design, installation, equipments, and technical support for electrical contractors, builders, homeowners, businesses/commercial buildings, and government entities that assist them in lowering of utility bills, reducing environmental impacts, and increasing energy reliability and independence through solar energy. Located in Los Angeles, California, Sunvalley Solar, Inc. is committed to reducing the world’s carbon foot print from traditional energy sources to make renewable sources such as solar the nation’s mainstream source of power.
To learn more, visit www.sunvalleysolarinc.com.
Forward-Looking Statement: The statements in the press release that relate to the Company’s expectations with regard to the future impact on the Company’s results from acquisitions or actions in development are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The statements in this document may also contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. When used in this press release, the words “anticipate,” “believe,” “estimate,” “may,” “intend,” “expect” and similar expressions identify such forward-looking statements. Forward-looking statements are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those contained in such statements. Such risks, uncertainties, and factors include, but are not limited to, future capital needs, changes, and delays in product development plans and schedules, or market acceptance.
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