WALNUT, Calif., Dec. 23, 2010 /PRNewswire/ -- Sunvalley Solar Inc. (OTC Bulletin Board: SSOL), a leading provider of solar power products and services, announced that it continues to make substantial progress on Green Farm Solar Investment Plan in Thermal, Imperial, Coachella and Holtville, CA.
Sunvalley Solar moves forward in the promotion of its Green Farm Solar Investment Plan. The Green Farm Solar Investment Plan leverages incentives from the Federal Government (30% of the project cost as a Federal Tax Cash Grant), the solar rebate program from the Imperial Irrigation District (IID) that provides power and water to local cities and Sunvalley's own client financing. The cities of Thermal, Imperial, Coachella, Holtville and others within the IID include over 300 agricultural entities, all ideally suited for the thin-film panel solar power systems offered by Sunvalley Solar. Sunvalley's Green Farm Solar Investment Plan, enables agricultural customers to 'go green' without any cash outlay. Over a period of five years their solar power systems will be completely paid off, with monthly payments lower than their current monthly utility costs. After reviewing proposals from Sunvalley Solar, many agricultural businesses in the area, including Seaview Packing, Crop Production Services, Vessey & Co, Inc, Leja Farms, Milce Sudduth Farms and Prime Food, have signed Letters of Interest requesting a site analysis and a detailed evaluation of the electrical meters, electrical panels, and available land space.
"In addition to our continued promotion of the Green Farm Solar Investment Plan, we are working to successfully renegotiate our existing contracts with Long Life Farms and others. In 2011 the IID will change their solar incentive plan from a one-time lump sum payment to a monthly performance based 5- year plan. The new plan also includes an increase in per Watt incentive. As a result, Sunvalley had to cancel and renegotiate its existing contracts announced in September (see Sunvalley Solar News releases of September 15th). Our progress to date has been quite encouraging with a new signed contract with Long Life Farms and signed contracts with some new customers.. We believe with the new incentive plans, we can offer an even stronger product (equipment, maintenance and financing) to clients in the Imperial Valley area and win more contracts for the year 2011," said James Zhang, CEO of Sunvalley Solar Inc.
About Sunvalley Solar Inc.
Sunvalley Solar Inc. is a leading solar system solution provider that offers comprehensive solar energy technology, system design, installation, equipments, and technical support for electrical contractors, builders, homeowners, businesses/commercial buildings, and government entities that assist them in lowering of utility bills, reducing environmental impacts, and increasing energy reliability and independence through solar energy. Located in Los Angeles, California, Sunvalley Solar Inc. is committed to reducing the world's carbon foot print from traditional energy sources to make renewable sources such as solar the nation's mainstream source of power.
To learn more, visit www.sunvalleysolarinc.com.
Forward-Looking Statement: The statements in the press release that relate to the Company's expectations with regard to the future impact on the Company's results from acquisitions or actions in development are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The statements in this document may also contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Forward-looking statements are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those contained in such statements. Such risks, uncertainties, and factors include, but are not limited to, future capital needs, changes, and delays in product development plans and schedules, or market acceptance.
SOURCE Sunvalley Solar Inc.