SunTechnics Purchases U.S. Solar Thermal Company

SunTechnics Energy Systems announced a definitive agreement to acquire Aztec Solar of Rancho Cordova, California. Under the agreement, Aztec Founder and Owner Ed Murray will be responsible for the SunTechnics U.S. solar thermal business unit.

SunTechnics’ purchase of Aztec Solar, a privately held installer of solar hot water and pool heating systems, will support the solar thermal market in California as well as provide SunTechnics with installation and sales expertise for value-added solutions. “Over the past few years, we have witnessed a significant growth on demand for solar thermal in the California market. The current installed base of up to 80 megawatts is a sign of the market’s strength, and we anticipate rapid growth,” said Murray. “As part of SunTechnics we will now be able to offer our customers complete solar power and heating solutions supported by strong sales and premium customer service channels.” Solar thermal technology, based on roof-mounted panels that capture light from the sun to heat water, reduces the portion of gas or electric bills related to heating water by up to 70% annually. Current federal tax credits of up to 30% for residential customers and for commercial applications provide systems payback times of six to ten years. “Aztec Solar’s experienced team offers us a competitive advantage that will allow us to increase our market share in both photovoltaic and solar water heating businesses,” said Florian Edler, CEO of SunTechnics Energy Systems, Inc. “We see this move as a significant revenue growth driver in 2007 and beyond.”

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