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4.6.2003: Meldung: Spire Solar Chicago Electric Rebate Program
Spire Corporation (Nasdaq: SPIR - News) announced that Spire Solar Chicago, in partnership with Commonwealth Edison ("ComEd"), Chicago"s major electric utility, is offering a solar electric power rebate to promote the installation of locally manufactured solar electric systems within the City of Chicago. Under the "Photovoltaic Incentive Program" (PIP), individuals and organizations who purchase PV systems or panels from Spire Solar Chicago with a direct current nameplate capacity of 1 to 50 kilowatts are eligible for rebates of $1,250 per kilowatt in 2003 and $1,000 per kilowatt in 2004. Grid-tied solar energy systems produced or installed by Spire Solar Chicago, a local manufacturer, designer and provider of solar electric systems, will be eligible. Funding for the rebates is provided by ComEd.
The PIP program is in addition to other state financial incentives available through the Illinois Department of Commerce and Economic Opportunity (DCEO) Renewable Energy Resources Program and the Illinois Clean Energy Community Foundation (ICECF). For PV systems larger than two kilowatts, the DCEO program offers grants for up to $6,000 per kilowatt of the cost of an installed PV system, while the ICECF program offers grants up to $2,000 per kilowatt to non-profit organizations. Corporate tax incentives such as the Federal Business Energy Tax Credit and Accelerated Depreciation are also available to further reduce total system costs.
"The PIP rebate, together with existing state incentives, helps to make green energy more affordable in the City of Chicago," said Steve Hogan, Executive Vice President and General Manager of Spire Solar. "For example, the installed cost of a 50 kilowatt roof top system on a commercial building can be reduced by 80% once the state grants, federal incentives and the PIP rebates are factored into the equation. With these incentives, the payback period on a commercial PV system can be much quicker."
"While Chicago is not immediately thought of for its solar resources," Mr. Hogan noted, "a photovoltaic system in Chicago can generate over 80% of the electricity of an identical one located in Miami, Florida. More importantly, the availability of solar electricity corresponds well to Chicago"s power demand patterns, especially on peak summer days when many businesses are subject to higher peak or time of day rates."
To be eligible for the PIP program, buildings must be located in the City of Chicago and have an active ComEd electricity account. The installations can be for residential, commercial or industrial applications and can be on new construction, renovated or existing buildings. To apply online, go to the Chicago Solar Partnership website at www.chicagosolarpartnership.org; contact Spire Solar Chicago at incentive@spiresolarchicago.com or call (773) 638-1543.
Spire Solar Chicago is a local manufacturer of solar electric panels, and is located at the Chicago Center for Green Technology on the City"s West Side. Spire provides a turnkey service to ensure systems are installed in compliance with City of Chicago building codes. Spire Solar Chicago also provides architecturally customized panels, and pre-engineered systems for installation by qualified contractors. For more information about Spire Solar Chicago, visit www.spiresolarchicago.com.
Spire Corporation consists of three wholly owned companies, all based upon a common technology platform. Spire Solar, Inc. provides solar electric module manufacturing equipment and produces and sells solar energy systems. Spire Biomedical, Inc. provides processing services to improve the performance of implantable medical devices, and markets specialty catheters. Spire Biophotonics Lifesciences develops biomedical instrumentation and includes Bandwidth Semiconductor, LLC, is a compound semiconductor foundry providing material and device fabrication services to defense, telecommunications and biomedical instrument industries. For more information, please visit www.spirecorp.com.
Certain matters discussed in this news release may be forward-looking statements subject to risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements. Such risks and uncertainties include, but are not limited to, the risk of dependence on market growth, competition and dependence on government agencies and other third parties for funding contract research and services, as well as other factors described in the Company"s Form 10-KSB filed with the Securities and Exchange Commission.
Contact:
Spire Solar Chicago
Mark Burger, 773/638-8700
mburger@spirecorp.com
The PIP program is in addition to other state financial incentives available through the Illinois Department of Commerce and Economic Opportunity (DCEO) Renewable Energy Resources Program and the Illinois Clean Energy Community Foundation (ICECF). For PV systems larger than two kilowatts, the DCEO program offers grants for up to $6,000 per kilowatt of the cost of an installed PV system, while the ICECF program offers grants up to $2,000 per kilowatt to non-profit organizations. Corporate tax incentives such as the Federal Business Energy Tax Credit and Accelerated Depreciation are also available to further reduce total system costs.
"The PIP rebate, together with existing state incentives, helps to make green energy more affordable in the City of Chicago," said Steve Hogan, Executive Vice President and General Manager of Spire Solar. "For example, the installed cost of a 50 kilowatt roof top system on a commercial building can be reduced by 80% once the state grants, federal incentives and the PIP rebates are factored into the equation. With these incentives, the payback period on a commercial PV system can be much quicker."
"While Chicago is not immediately thought of for its solar resources," Mr. Hogan noted, "a photovoltaic system in Chicago can generate over 80% of the electricity of an identical one located in Miami, Florida. More importantly, the availability of solar electricity corresponds well to Chicago"s power demand patterns, especially on peak summer days when many businesses are subject to higher peak or time of day rates."
To be eligible for the PIP program, buildings must be located in the City of Chicago and have an active ComEd electricity account. The installations can be for residential, commercial or industrial applications and can be on new construction, renovated or existing buildings. To apply online, go to the Chicago Solar Partnership website at www.chicagosolarpartnership.org; contact Spire Solar Chicago at incentive@spiresolarchicago.com or call (773) 638-1543.
Spire Solar Chicago is a local manufacturer of solar electric panels, and is located at the Chicago Center for Green Technology on the City"s West Side. Spire provides a turnkey service to ensure systems are installed in compliance with City of Chicago building codes. Spire Solar Chicago also provides architecturally customized panels, and pre-engineered systems for installation by qualified contractors. For more information about Spire Solar Chicago, visit www.spiresolarchicago.com.
Spire Corporation consists of three wholly owned companies, all based upon a common technology platform. Spire Solar, Inc. provides solar electric module manufacturing equipment and produces and sells solar energy systems. Spire Biomedical, Inc. provides processing services to improve the performance of implantable medical devices, and markets specialty catheters. Spire Biophotonics Lifesciences develops biomedical instrumentation and includes Bandwidth Semiconductor, LLC, is a compound semiconductor foundry providing material and device fabrication services to defense, telecommunications and biomedical instrument industries. For more information, please visit www.spirecorp.com.
Certain matters discussed in this news release may be forward-looking statements subject to risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements. Such risks and uncertainties include, but are not limited to, the risk of dependence on market growth, competition and dependence on government agencies and other third parties for funding contract research and services, as well as other factors described in the Company"s Form 10-KSB filed with the Securities and Exchange Commission.
Contact:
Spire Solar Chicago
Mark Burger, 773/638-8700
mburger@spirecorp.com