Commercial solar electric customers recoup investment in four years with Xantrex's Grid Tie Solar Inverter
U.S. federal tax deductions for business owners provide additional financial incentives not available to customers of residential solar electric systems
PHOENIX, ARIZONA, April 12, 2005 - U.S. federal tax deductions for business owners provide additional financial incentives not available to customers of residential solar electric systems said Lee Tanner, a veteran solar electric system installer who recently installed his first Xantrex GT 3.0 Grid Tie Solar Inverter in a 2,000 sq. ft. commercial building in Phoenix, Ariz.
Tanner, who has been in the solar business for approximately 18 years, concentrates the majority of his solar grid-tie installations on commercial properties. His main challenge is educating potential customers on the tax incentives available to small business owners.
"Unlike residential renewable energy systems that take homeowners 12 to 14 years to receive payback, a small business owner's commercial solar system investment is treated as a depreciating asset where the system's cost can be recouped in four to five years," said Tanner. "When you factor in the federal tax credit, system rebate, reduced utility electrical bills, and appreciated value of the property due to the PV system, commercial solar systems are a much better deal right now in Arizona - particularly the small to mid-sized systems ranging from three kilowatts to 25 kilowatts.
"It's tough for most business owners to get past the mindset that their investment is going to be worthless in five years. In reality the solar electric system is a long-term investment that will put money in their pockets for the next 20 years."
This system comprises one GT 3.0 mounted on the east wall of the building adjacent to the electrical service entrance and the inverter is coupled with 21 Shell 165 modules.
Tanner estimates the grid-tie system will provide energy for approximately 20 percent of the building load - most of it during peak hours - and generate about 400 to 500 kilowatts per month. In addition, his customer will receive a rebate from the local utility of up to $4 per watt for a maximum of 50 percent of the total system cost.
Commenting on the GT 3.0, he said: "I like that the GT 3.0 includes the DC disconnect. I saved time and money on the wiring, mounting and piping for this particular installation. I'm already planning to install more GT 3.0s in the future."
Xantrex Technology Inc. (www.xantrex.com) is a world leader in the development, manufacturing and marketing of advanced power electronic products and systems for the distributed, mobile and programmable power markets. The company's products convert raw electrical power from any central, distributed, or backup power source into high-quality power required by electronic and electrical equipment. Headquartered in Vancouver, British Columbia, the company has facilities in Arlington, Washington; Livermore, California; Elkhart, Indiana and Barcelona, Spain. Xantrex is publicly listed on the Toronto Stock Exchange under the ticker symbol "XTX".
Note that this news release contains forward-looking statements related to Xantrex Technology Inc. Such statements reflect the current views of Xantrex with respect to future events and are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated in these forward-looking statements.
Xantrex Technology Inc.