United Solar, a leading global manufacturer of building-integrated
and rooftop photovoltaics under its UNI-SOLAR® brand – and a
wholly-owned subsidiary of Energy Conversion Devices (Nasdaq:ENER)
– announced today an agreement with NJR Home Services (NJRHS), an
unregulated subsidiary of New Jersey Resources, to provide two of
its solar module product lines for a residential pilot program in
New Jersey.
This pilot program will highlight many firsts – the most
prominent being that for the first time in the U.S. marketplace,
homeowners can utilize a solar product on their roof that is fully
integrated into the existing asphalt shingle patterns for optimal
aesthetic blending. Until now, options have been limited to
glass-covered crystalline or heavy, framed panels that require
footing penetrations into the roof deck or that stick up above the
roofline. This pilot program marks the national launch of
UNI-SOLAR's new PowerShingle™ that will be installed on family
homes, as well as CertainTeed Corporation's product EnerGen™ that
uses UNI-SOLAR modules.
"This pilot program is a real-world opportunity to showcase two
new solar products for residential homes," said Mark Morelli,
President and CEO of United Solar's parent company, Energy
Conversion Devices. "Both products provide solar module aesthetics
that overcome some of the largest objections to residential solar
panels to date. This program will be an outstanding field test for
UNI-SOLAR as we work with roofing contractors and residential
end-users."
NJRHS will install UNI-SOLAR's integrated PV modules on about 30
residential homes as part of its solar lease program that helps to
make clean, renewable energy more accessible to customers. Through
the program, NJRHS covers the upfront installation and maintenance
costs, which can cost tens of thousands of dollars, and then leases
the solar panels to homeowners for $8.66 per kilowatt installed.
The average size system for the pilot program is expected to be
three-kilowatts with a lease payment price of $26 per month over a
20-year period. That monthly rate is fixed over the life of the
lease. Customers will realize savings immediately following the
connection of the system to the electric utility's meter, which
should begin to happen by the close of the year. The average
residential customer is expected to save approximately $50 per
month – more than $10,000 in electric costs over the life of the
lease according to NJR calculations – all while generating clean,
reliable power for their home.
"NJRHS launched its solar lease program to provide customers
with an opportunity to affordably access renewable energy for their
homes," said Stan Kosierowski, President, NJR Home Services, NJR
Plumbing Services, and NJR Clean Energy Ventures. "We understand
that our customers' homes are their most important investment. With
UNI-SOLAR's cutting edge solar product line, we are now able to
offer them a choice when it comes to maximizing that investment.
With its aesthetic appeal and lightweight features, this new
integrated system will also enable us to reach more customers."
UNI-SOLAR will work with NJRHS and partner Advanced Green
Technologies of Fort Lauderdale, Florida, to decide which new solar
product, PowerShingle or EnerGen, will go on each roof. The new
roof and re-roofing market is estimated at more than four million
homes per year in the U.S.
PowerShingle and EnerGen
"Far and away the consistent message we've heard from homeowners
for decades is that until residential solar options are
aesthetically pleasing and blend into their homes' current
roofline, they will not have it installed, or at best will limit
solar to the backside of their home," Morelli said. "Now with
PowerShingle and CertainTeed's EnerGen, we've solved homeowners'
main visual objections and they can say, 'finally, solar for the
front of the home'."
Thanks to UNI-SOLAR's extremely lightweight and very flexible
modules, engineers have integrated solar into the same size and
shape of traditional asphalt shingles that lay just as flat. For
additional upfront savings, PowerShingle can be installed in the
same manner as current roofing products because the modules are
glass-free and encapsulated in UV-stabilized, weather-resistant
polymers that hold up against Category 3 hurricane winds, hail and
other heavy impacts – while continuing to provide excellent
performance and protection for the inside of the home.
The EnerGen system, powered by UNI-SOLAR®, is a lightweight
design that also requires no rooftop penetrations, making it easy
for roofing contractors to install while maintaining roof deck
integrity. The laminates lie flush with the remainder of the
traditional asphalt roofing shingles, providing a streamlined,
visually-appealing appearance.
Both products allow for faster payback than other solar options
due to UNI-SOLAR's outstanding low-light, high-heat and
shadow-tolerant performance, combined with lower upfront
installation costs.
About NJR Home Services
NJR Home Services provides home-appliance service, sales and
installations to customers in Ocean, Monmouth, Morris and Middlesex
counties, New Jersey. The company offers comprehensive appliance
service contracts and related products and services. NJR Home
Services technicians are skilled at installing, servicing and
repairing natural gas furnaces, hot water heaters, electric central
air conditioning equipment and stand-by generators. NJR Home
Services provides responsive service seven days a week and two-hour
scheduling windows. Technicians have received HVAC Excellence
Certification from the nationally recognized North American
Technician Excellence (NATE). NJR Home Services is a subsidiary of
New Jersey Resources (NYSE:NJR). A long-standing tradition of
unparalleled care and service to customers and community is the
hallmark of the NJR family of companies. For more information,
visit the NJR Home Services Web site at
www.njrhomeservices.com.
About CertainTeed®
Through the responsible development of innovative and
sustainable building products, CertainTeed has helped shape the
building products industry for more than 100 years. Founded in 1904
as General Roofing Manufacturing Company, the firm's slogan
"Quality Made Certain, Satisfaction Guaranteed," quickly inspired
the name CertainTeed. Today, CertainTeed is North America's leading
brand of exterior and interior building products, including
roofing, siding, windows, fence, decking, railing, trim,
foundations, pipe, insulation, gypsum, ceilings and access covers.
A subsidiary of Saint-Gobain, the world's largest building products
company, CertainTeed and its affiliates have more than 6,000
employees and more than 65 manufacturing facilities throughout the
United States and Canada. In 2009 and 2010, CertainTeed, which is
headquartered in Valley Forge, Pa., was named ENERGY STAR Partner
of the Year by the U.S. Environmental Protection Agency, a national
award that recognizes environmentally responsible corporations. The
group had total sales of approximately $3 billion in 2009. For more
information, please visit www.certainteed.com.
About Energy Conversion Devices/United
Solar
Energy Conversion Devices (ECD) (Nasdaq:ENER) is a leader in
building-integrated and rooftop photovoltaics. The company
manufactures, sells and installs thin-film solar laminates that
convert sunlight to energy using proprietary technology. ECD's
UNI-SOLAR® brand products are unique because of their flexibility,
light weight, ease of installation, durability, and real-world
efficiency. Through its Solar Integrated Technologies business, the
company also designs, manufactures and installs rooftop
photovoltaic systems, which enable customers to transform unused
space on the rooftop into a value-generating asset. In addition,
ECD's Ovonic Materials Division is the pioneer in NiMH battery
technology, and is developing low cost fuel cells, hydrogen
production from bioreformation, and hydrogen storage technologies.
For more information, please visit
www.energyconversiondevices.com.
This release may contain forward-looking statements within the
meaning of the Safe Harbor Provisions of the Private Securities
Litigation Reform Act of 1995. Forward-looking statements include
statements concerning our plans, objectives, goals, strategies,
future events, future net sales or performance, capital
expenditures, financing needs, plans or intentions relating to
expansions, business trends and other information that is not
historical information. All forward-looking statements are based
upon information available to us on the date of this release and
are subject to risks, uncertainties and other factors, many of
which are outside of our control, that could cause actual results
to differ materially from the results discussed in the
forward-looking statements. Risks that could cause such results to
differ include: our ability to maintain our customer relationships;
the worldwide demand for electricity and the market for solar
energy; the supply and price of components and raw materials for
our products; and our customers' ability to access the capital
needed to finance the purchase of our product. The risk factors
identified in the ECD filings with the Securities and Exchange
Commission, including the company's most recent Annual Report on
Form 10-K and most recent Quarterly Report on Form 10-Q, could
impact any forward-looking statements contained in this
release.
CONTACT: United Solar
Wendy Ventura
248-293-0440 x6206
Lovio George Communications
Media Contact:
Tom Lang
734-953-3500
Accretion Acquisition (NASDAQ:ENER)
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