Today, Solar Energy Initiatives, Inc. published letters of intent outlining the plan to install and operate approximately 4 megawatts of photovoltaic systems on government buildings in several municipalities across the United States. This announcement follows the companyâ€™s plan to focus on executing on a grass roots campaign, “RENEW THE NATION”, designed to help redeploy a portion of the U.S. workforce and reduce the world`s dependence on fossil fuels by selling solar thermal and photovoltaic (PV) technologies.
Anticipating a completion date in 2010, the company will provide all solar equipment for on-site installation, and will sell the newly generated solar energy to the buildings at a discounted rate, offering competitive rates against the current provider. Additionally, Solar Energy Initiatives will recognize energy sales over a 20-year period.
The approximately 20,000 solar panels delegated for this project will reduce hazardous carbon dioxide emissions by 6,000 tons, annually. Upon completion, Solar Energy expects to provide energy savings to the municipalities without any added costs they normally would be expected to assume.
“Management is pleased with the Company`s ability to attract these profitable government ventures,” stated Mr. David Fann, Chief Executive Officer of Solar Energy Initiatives. “We are encouraged with the recent influx of projects that the Company is being offered, as well as, our ability to secure multiple agreements simultaneously. Solar Energy`s proven business model which offers low cost, high return energy production to municipalities is rapidly being accepted throughout the alternative energy markets. The Company will continue to leverage its strategic business model and growing market presence in order to expand its geographic presence, increase earnings, and improve shareholder value.”