Sustainable Energy Announces Ontario’s First Factory Assembled Solar PV Systems
Exclusive to Sustainable Energy: Pre-Assembled, Pre-Certified Systems Cut Labor Costs by 90% and De-Risk Installation PARALEX Enabled ProFab Solar Adds Value As the Industry Moves Towards Standardized System Solutions to Reduce Design Complexity and “Soft” Balance of System Costs Strategy Levers PARALEX Advantages to Capture a Higher Share of Revenues and Increase the Bottom Line Contribution per Sale While Still Bringing Down the Overall Cost of the System
Toronto, Ontario, Canada, April 18, 2012 - Sustainable Energy Technologies Ltd (‘Sustainable Energy’ or the “Company”) (TSX-V: STG) announced Ontario’s first factory assembled solar PV systems for the micro-FIT and small FIT market. Designed to reduce design and on site labor costs by up to 90% and to de-risk the installation process for project developers, the systems will be marketed exclusively in Ontario by ProFab Solar, (www.profabsolar.com) a joint venture subsidiary of Sustainable Energy and Steeltree Structures.
Each ProFab system will consist of prefabricated racking and all other DC side components, including, in most cases, solar PV modules and the PARALEX inverter which are pre-assembled and pre-certified in the factory to meet Ontario safety standards.
"Customer response in pre-marketing has been outstanding. This is a breakthrough for Ontario and the buy-in has been very encouraging to our price points which enable attractive investment returns even with the recently announced lower feed in tariffs," commented Michael Carten, Chief Executive Officer of Sustainable Energy.
"Kits and bundles consisting of matched DC side components for smaller systems are where the industry is going in order to streamline installation and reduce design, procurement and installation costs. Standardized factory assembled solutions also enable better bankability by ensuring a stable cost structure and eliminating the risk of installer error."
"PARALEX expands the value of preassembled systems by accommodating site specific conditions, such as partial shading, and by enabling flexibility in the system array wattage without changing components or the basic design."
"Our strategy is to lever the PARLEX advantages to capture a higher share of revenues and increase the bottom line contribution per sale while still bringing down the overall cost of the system to our customers," added Carten.
Sustainable Energy will sell the ProFab systems in Ontario through a limited number of dealers and directly to large system aggregators and project developers throughout the Province and into nearby US markets. ProFab systems will be demonstrated to the public at the Canadian Solar Industries Solar Ontario Show in London Ontario on May 14 and 15th 2012.
About ProFab Solar:
ProFab Solar is a joint venture subsidiary of Sustainable Energy with Steeltree Structures which supplies the racking and assembles systems exclusively for ProFab Solar in Ontario. The ProFab system delivers a lower cost, lower risk solution for smaller system developers, which is more bankable, and which delivers attractive investment returns even with the new lower feed in tariffs.
About Sustainable Energy:
Sustainable Energy (www.SustainableEnergy.com) designs and manufactures intelligent power inverters for a wide arrange of distributed generation and storage technologies. The inverters incorporate patented breakthrough technologies which enable the highest efficiency conversion of low voltage direct current inputs in the industry.
A single standard low cost electronics platform supports (i) the solar industry’s only industry standard inverter enabling the higher yields and installation flexibility of parallel solar; (ii) the solar industry’s only industry standard inverter enabling the safety of extra low operating voltages; and (iii) the industry’s highest bi-directional power conversion efficiencies for grid tied energy storage and fuel cells
Approximately 20MW of 1st and 2nd generation PARALEX inverters have been installed in 7 different countries.
Forward Looking Information
The reader is advised that some of the information herein may constitute forward-looking statements within the meaning assigned by National Instruments 51-102 and other relevant securities legislation. In particular, we include: statements concerning the impact of our technology on solar PV system performance; statements concerning the marketing plans for ProFab Solar; statements concerning the economic value of ProFab Solar; and statements concerning Sustainable Energy’s strategy. Forward-looking information is not a guarantee of future performance and involves a number of risks and uncertainties.
Many factors could cause the Company's actual results, performance or achievements, or future events or developments, to differ materially from those expressed or implied by the forward-looking information. Readers are cautioned not to place undue reliance on forward-looking information, which speaks only as of the date hereof. Readers are also directed to the Risk Factors section of the Company’s current Annual Information Form which may be found on its website or at www.sedar.com The Company does not undertake any obligation to release publicly any revisions to forward-looking information contained herein to reflect events or circumstances that occur after the date hereof or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws.
For further information please contact:
Sustainable Energy Technologies Ltd.
Chief Executive Officer