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Financing Plan Helps New Yorkers Acquire Solar Energy

July 12, 2007 | 1 Comment

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Malta, New York [RenewableEnergyAccess.com] groSolar announced a new plan enabling New Yorkers to bring solar energy to their homes for a nominal increase to their daily utility cost. The financing program, available immediately, will allow New Yorkers to buy a solar electric energy system for their home for as little as 50 cents per day more than their current utility power supply.

"For the cost of a candy bar, New Yorkers can now improve their energy security and know that their electricity comes from the cleanest source available."

-- Jeff Wolfe, groSolar, CEO

"For years, people have said solar energy was too expensive,'' groSolar CEO Jeff Wolfe said. "Not anymore, especially not in New York. For the cost of a candy bar, New Yorkers can now improve their energy security and know that their electricity comes from the cleanest source available. They can now have benefits of solar power for an exceptional value.''

Coupled with incentives offered by the New York State Energy Research and Development Authority (NYSERDA) and applicable federal and State tax credits, rebates to create this new low-cost program for New Yorkers wanting to go solar would become a lot more affordable.

This program will enable homeowners to upgrade their home with a clean, solar electric system that would be connected to the homeowner's existing utility system, thereby reducing peak load demand, reduce dependence on conventionally generated electricity, and expand the renewable generation market.

The special pricing and financing program is available on three groSolar power systems: 2,040 watts, 3,400 watts and 4,590 watts.

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william-hughes-66196

July 15, 2007

While many technical fixes will make solar - electric more and more viable, there are lots of measures that any government could take to improve the situation  with 'the stroke of a pen'.  These include:*Allow a full tax write off of the capital cost of the system.  If you are in a 33% tax bracket, this reduces the price of solar electric by a third*Wave all GST (VAT) taxes on the solar equipment.  This, for someone paying 12.5% GST reduces the cost of solar electric by an eighth.*Ensure that the power company pays a fair price for the excess power generated, remembering that Solar is generated during the day when power is sold at a premium.  Also take into consideration the price benefit of diffuse power generation with reduced power losses from transmission from distant conventional generators.*Credit the small generator with a carbon credit according to their reduction of carbon dioxide reduction caused by their generation of clean power.  This can be done through the income tax system.*Allow the home owner to divert some of their superannuation funds to the purchase of solar without penalty.  Solar electric on the roof is one of the best superannuation moves one can make.

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