Canada to invest in Renewable Energy Inverter

CANMET Energy Technology Center (CANMET) of Natural Resources Canada will contribute CAN$100,000 (US$66,000) to the cost of commercializing Sustainable Energy Technologies Ltd.’s Renewable Energy inverter for grid-connected solar photovoltaic (PV) markets.

Calgary, Alberta, Canada – February 4, 2003 [SolarAccess.com] Sustainable Energy’s Renewable Energy inverter incorporates patented power inverter technologies developed by the company for residential fuel cell applications. The company has been successfully testing a 5 kW version of the Renewable Energy inverter with a commercial scale solar PV array for several months, and it is in the final stages of product commercialization. According to industry observers, the market for Renewable Energy inverters will grow at a rate of 34 percent per year over the next five years, making it one of the fastest growing segments of the electrical industry. This growth will be fueled primarily by the demand for grid-connected solar-PV systems and industry experts estimate that, by 2010, more than 700 MW of grid-connected solar power systems will be installed every year. Advanced power inverters provide the critical interface between the Renewable Energy source and the utility grid, converting the direct current (DC) output of the power sources into high quality alternating current (AC) required by electronic devices, and ensuring the safety of the grid interface. Under the Contribution Agreement, CANMET will contribute 32 percent of costs incurred to a maximum of CAN $100,000 (US$66,000). “The contribution by Natural Resources Canada reflects the critical importance of advanced power electronics to the integration of renewable and alternative energy systems,” said Michael Carten, President and CEO of Sustainable Energy. “Investments in new technologies, like those being developed by Sustainable Energy and others, represent Canada’s best opportunity to contribute to meeting the threat of climate change around the world.”