Xantrex Technology Inc. today announced that its solar inverters have been installed on the first two residential installations connected to the utility grid under the Renewable Energy Standard Offer Program (RESOP) - a renewable energy initiative launched last year by the Ontario Power Authority.
VANCOUVER, B.C., August 23, 2007 - Xantrex Technology Inc. (TSX:XTX) today announced that its solar inverters have been installed on the first two residential installations connected to the utility grid under the Renewable Energy Standard Offer Program (RESOP) - a renewable energy initiative launched last year by the Ontario Power Authority.
At the end of February of this year, Ontario homeowner, Dr. Salvatore Amenta of Stouffville, was the first residential customer to be issued a 20 year contract by the Ontario Power Authority, under RESOP. The program, which allows Ontarians to sell green energy back to the utility grid, pays him $0.42 per kilowatt-hour (kWh) of power.
Xantrex dealer Enviro-Energy Technologies Inc. of Markham, Ontario, was contracted to design and install six photovoltaic (PV) modules on the roof of the Amenta residence. The system incorporates a Xantrex GT3.0 Grid Tie Solar Inverter that converts DC power produced by the solar modules into clean, reliable AC power for sale to the electricity grid. With the new system and conservation of power, Dr. Amenta has managed to cut his utility bill in half, and reduce his dependence on the grid.
The second residential installation, a 4 kilowatt (kW) system located in Burlington Ontario, is controlled by a Xantrex GT5.0 Grid Tie Solar Inverter. These two systems are the first to be physically connected to the utility grid under RESOP.
"We are pleased that Ontario has launched this progressive program to encourage the generation of clean, renewable power", said Mossadiq Umedaly, Xantrex Chairman. "With a wide range of single and three phase solar grid tie inverters for residential and commercial customers, Xantrex is ideally positioned to meet the increased demand for solar power solutions created by Ontario's Renewable Energy Standard Offer Program. This incentive will stimulate significant investment in the solar energy sector in Ontario and the rest of Canada."
Xantrex single-phase GT Series Grid Tie Solar Inverters have become the inverters of choice for a growing number of customers focused on residential and smaller commercial applications under the Ontario program, with inverter sizes ranging from 2.8 kW to 5.0 kW. Xantrex three-phase GT Series Grid Tie Solar Inverters, which are also eligible for RESOP, offer 100 kW and 250 kW power levels to meet the needs of larger commercial solar systems.
"Xantrex grid tie inverters offer excellent value, performance, reliability, ease of installation, and high power density", said Steve Eng, P.Eng., President, Enviro-Energy Technologies Inc. "These features make them an outstanding solution for solar system integrators like Enviro-Energy, and provide homeowners with peace of mind, knowing they have the best technology available in the world, to control their solar system."
The first of its kind in Canada, the RESOP program makes Ontario's support of solar power installations one of the highest in North America and competitive with the incentives offered in Europe. Projects that comply with the Standard Offer Program may also qualify for a variety of federal and provincial incentive programs and grants under REDO (Renewable Energy Development in Ontario).
The Canadian Solar Industry Association predicts that Standard Offer program will stimulate the installment of about 40 megawatts (MW) of grid connected solar power in Ontario in the next five years, and as much as 3,000 MW installed by 2025.
For more information about Xantrex solar inverters, please visit www.xantrex.com/renewablesystems
To purchase Xantrex products please visit www.xantrex.com/buy.asp to find a dealer or distributor in your area.
For information about the Ontario Power Authority Standard Offer Program please visit www.powerauthority.on.ca/sop/
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 renewable, programmable, mobile, and portable power markets. The company's products convert and control raw electrical power from any central, distributed, renewable, 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 and San Diego, California; Elkhart, Indiana; Barcelona, Spain; and Reading, England. Xantrex is listed on the Toronto Stock Exchange under the ticker symbol "XTX".
About Enviro-Energy Technologies Inc.
Based in Markham, Ontario, Enviro-Energy Technologies Inc. (www.enviro-energytech.com) specializes in the custom design and installation of grid tie solar and wind renewable energy systems for commercial and residential applications. The company's engineering expertise ensures that all system designs meet electrical safety approvals and the requirements of the Local Distribution Companies (LDC's) in Ontario.
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.
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