PVT Solar, Inc., in cooperation with Meritage Homes, the nation's ninth largest homebuilder, announced today that homes which feature the Echo™ solar energy system were selling three times faster than competitor's homes.
Echo Solar System Energizes Growth in Meritage Homes' New Arizona Communities
SEPT. 13, 2010 - PVT Solar, Inc., in cooperation with Meritage Homes, the nation's ninth largest homebuilder, announced today that homes which feature the Echo™ solar energy system were selling three times faster than competitor's homes.
Meritage Homes launched the nation's most energy efficient production home community with its Lyons Gate community in Gilbert, AZ and chose the revolutionary Echo solar system over basic solar electric (‘PV') systems.
"Lyons Gate is the first ever energy efficient community in the United States where our standard home is approximately 80 percent more energy efficient than a normal home built to code, and still priced competitively to the market," says C.R. Herro, Vice President of Environmental Affairs for the Top 10 builder.
"We looked at everything from the ground up, and we did everything that made sense, starting with including Echo in each and every home.
And it's working - homes in Lyons Gate are selling over three times faster than our competition. We've provided our customers with extraordinary value and they've responded!"
On the strength of these impressive sales results, over the last three months Meritage Homes has rolled Echo out as an included feature in 12 communities across Arizona, from Phoenix to Tucson to Green Valley.
"We're very pleased at the response from homebuyers," said PVT Solar CEO Vikas Desai. "When homebuyers learn that Echo delivers more than twice as much energy as a basic solar electric system, and that it's an included feature in every home, their typical reaction is: ‘At last!'"
"Behind the success of Meritage Homes and other leading builders, PVT Solar is accelerating its growth to meet strong demand for Echo solar systems," noted Desai. "With a revolutionary product, a strong balance sheet and top tier investors, we're excited about Echo's ability to be a game changer, not only in the new home market but in the existing home market as well."
Desai recently joined PVT Solar to spearhead the company's continued growth. Prior to joining PVT Solar, he served as vice president and general manager of SunPower Corp.'s Residential and Light Commercial business unit (BU). Desai developed, initiated and led the business strategy for SunPower's value-added reseller network channel, putting in place a world-class team and infrastructure, growing the BU to more than 1,000 channel partners, a global footprint across eight different countries and $1 billion in annualized revenues.
About PVT Solar, Inc.
PVT Solar is the creator of the Echo solar system, a revolutionary new solar energy system that delivers more than twice as much energy as a basic solar electric (PV) system. Echo supplements conventional solar electric PV panels with a unique thermal solar technology that captures the heat from the PV panels. Echo enables homeowners to generate more of their own energy and provides electricity to run appliances, hot water for washing and bathing, and home heating and home cooling. For more information, visit www.pvtsolar.com
About Meritage Homes Corporation
Meritage Homes Corporation is the 9th largest homebuilder in the U.S. based on homes closed. Meritage offers a variety of homes across the Southern and Western states designed to appeal to a wide range of home buyers, including first-time, move-up, luxury and active adult buyers, with base prices starting from under $100,000. As of March 31, 2010, the Company had 149 actively selling communities in 12 metropolitan areas including Houston, Dallas/Ft. Worth, Austin, San Antonio, Phoenix/Scottsdale, Tucson, Las Vegas, Denver, Orlando, and the East Bay/Central Valley and Inland Empire of California. Meritage Homes and its predecessor companies have delivered more than 65,000 homes since the Company was founded in 1985.
In 2010, Meritage is celebrating its 25th Anniversary, and is the only large national homebuilder to be 100% ENERGY STAR® qualified in every home started in 2010. The Company has launched a new Simply Smart Series™ and a 99-day guaranteed completion program in certain communities. Meritage has designed and built more than 65,000 homes in its 25-year history, and has a reputation for its distinctive style, quality construction and positive customer experience. To find a Meritage community near you, go to www.meritagehomes.com
For more information about the Company, visit http://investors.meritagehomes.com.
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