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Solar Power Cheaper than Utilities for First Time in Northeast

Posted on: Tuesday, 21 April 2009, 07:00 CDT

Alteris Renewables Partners with SunRun to Introduce "Solar as a Service" to Homeowners in Massachusetts.

BOSTON, April 21 /PRNewswire/ -- Alteris(TM) Renewables and SunRun announced a breakthrough program today for powering Massachusetts homes with clean, renewable solar energy. Through its partnership with SunRun, Alteris Renewables is turning home solar into a monthly service, like cable or any other utility. With this new program, upfront costs plummet from $30,000 to as little as $1,000 for customers to be able to install solar electric systems on their homes. Customers will enjoy savings from day one with locked-in rates for the next 18 years - a valuable protection from future electric rate increases. They can also make a good return on their initial investment.

This is the first time that SunRun, a game-changing solar service, is available on the East Coast. Because homeowners do not need to maintain, repair or insure their systems, solar becomes virtually risk-free. Customers can even get all the new tax advantages available for installing solar without any of the paperwork, making it the easiest way to get a solar electric system on the home.

"For the past 30 years and with more than 2000 satisfied solar customers, we've been a leader in providing solar to the Northeast," said Ron French, president of the Solar Business of Alteris Renewables. "Now, with SunRun, we've made it as easy as paying your electric bill, only cheaper. For consumers with a sunny home site, there's no longer any reason not to join in helping preserve the planet for our children."

"On behalf of the Patrick Administration, I congratulate Alteris Renewables on this exciting partnership with SunRun," said Department of Energy Resources Commissioner Philip Giudice. "This new venture will greatly expand the amount of clean, renewable electricity generated here in Massachusetts, benefiting our climate and our economy."

Experts have long projected that solar electricity would eventually be on par with electricity from the traditional electric utility. Now that cross-over point has been reached for Massachusetts homeowners. Electricity rates in Massachusetts have nearly doubled over the last 20 years. If these trends continue, a typical customer could recover their upfront payment in as little as 2 years and see an after-tax return on their investment of as much as 60% or more.

"We chose to partner with Alteris Renewables because they have a proven track record as a leader in solar installation in the Northeast," said Lynn Jurich, president of SunRun. "Alteris has installed reliable, quality systems for decades and we look forward to expanding into the Northeast with them."

For more information about the Alteris Renewables SunRun program in Massachusetts, please visit www.alterisinc.com/sunrun or call (800) 339-7804.

About Alteris Renewables, Inc.

Formed when SolarWrights, Inc, and Solar Works, Inc joined forces in October of 2008, Alteris Renewables is a full service renewable energy systems integrator and project developer. The company provides solar electric, solar thermal, and wind energy solutions for commercial, residential, education, municipal and institutional clients. The company has industry-leading expertise in engineering, design, project management, performance analysis, project financing and renewable energy credit programs. Alteris is a portfolio company of Riverside Partners, a Boston-based private equity firm. For more information, please visit www.alterisinc.com.

About SunRun

SunRun is a home solar company that provides a smart, affordable alternative to purchasing a solar system outright or renting solar equipment. SunRun purchases custom-designed home solar systems for its customers, who pay a low fixed rate for the solar electricity produced by their system. All SunRun customers receive money-back annual performance guarantees in addition to professional-grade monitoring, maintenance, repairs, and insurance, which removes the complexity and risk from going solar. SunRun's goal is to provide every home direct access to clean, affordable electricity. SunRun currently serves communities in California, Massachusetts and Arizona. Additional information about SunRun residential solar power is available at www.sunrunhome.com

SOURCE Alteris Renewables, Inc.

Source: PR Newswire

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