MOUNTAIN VIEW, Calif., July 14, 2011 /PRNewswire/ -- SET-Solar Corp., a U.S. provider of high-quality, photovoltaic solar modules, announced its latest collaboration with Greenpower Solutions of Hawaii. A multi-year partnership was established to capitalize on SET-Solar's strategic alliance with numerous factory and financing partners and will enable Greenpower to build cost-effective solar solutions for commercial projects. Greenpower will procure two megawatts for its project in Hilo, Hawaii.
Installers and integrators are purchasing solar panels in record numbers to take advantage of the attractive government rebate and feed-in-tariff (aka FIT) programs in the US/Canada. SET-Solar offers innovative financing options, including the use of government incentives as collateralized security to finance the operations. High FIT greatly enhances and attracts financers and investors to the new business opportunities.
"SET-Solar's collaboration with Greenpower is one of our typical strategic partnerships that we build," stated Roland Chu, SET-Solar CEO. "By providing financing options which decrease capital burden, we're seeing a dramatic increase in long-term sales contracts. The end user benefits by having a cost-effective renewable energy source that is also good for the planet. It's a win-win for everyone involved."
"Partnering with SET-Solar is extremely beneficial to the growth of Greenpower in the Hilo market," said Raj Budhabhatti, Greenpower president. "The technical leadership from SET-Solar Corp. enables us to quickly move forward. SET-Solar's creative business model instills great confidence in all of us. This allows our customers to realize the benefits of solar power as their primary energy source."
Greenpower's projects include a combination of educational, non-profit and commercial facilities throughout Hawaii. This project is developed by MayDow Electric Company, Inc. and will be owned by QingDao ShuangXi USA, Inc., both of Hawaii.
SET-Solar is based in Mountain View, California. Its Silicon Valley team innovates in QA/QC processes and designs. SET-Solar markets and sells its high-quality photovoltaic solar modules in North America. SET-Solar has partnered with several largest manufacturers of high-grade polysilicon and silicon wafers in China, who are subject to strict SET-Solar design and QC/QA specifications during manufacturing. See www.set-solar.com for more information.
About Greenpower Solutions
Greenpower is Hilo, Hawaii-based. Through its financing collaborations and fast-track installations, Greenpower makes solar energy affordable to its clients. For more information on Greenpower, please visit email@example.com.
This press release, containing no historical facts, includes forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. They are based largely on current expectations and subject to known and unknown risks, uncertainties and other factors beyond our control that could cause actual events and results to differ materially from these statements. These statements are not guarantees of future performance. Please be cautious not to place undue reliance on these forward-looking statements, which are relevant as of the date of the given press release and should not be relied upon as of any subsequent date. SET-Solar undertakes no obligation to update publicly any forward-looking statements.
Visit SET-Solar at Intersolar North America from July 12 - 14, 2011, at the Moscone Center in San Francisco, California.
SOURCE SET-Solar Corp.