Vancouver, Canada, and Knoxville, Tennessee, October 10th, 2018 – Solar Alliance Energy Inc. (‘Solar Alliance’ or the ‘Company’) (TSX-V: SOLR) is pleased to announce it has launched “SunBox”, a new product offering that provides a simple, efficient solar system specifically designed for architects, new home builders and their customers. SunBox is a standardized system consisting of two sizes of standard residential systems that include battery storage or an optional generator for whole home backup. Solar Alliance is selectively partnering with architects, developers and homebuilders that will integrate this permit-ready solar offering into their existing home designs for new construction, with the primary customer base consisting of developers building large, multi-home communities. New homeowners will now have the ability to affordably add a solar system as an add on to their new home in the same way they would select individualized countertops and kitchen appliances. This program represents a new sales channel for Solar Alliance and will result in higher margins and lower customer acquisition costs than the traditional retrofit sales model. Standardizing solar modules, inverters and racking systems should provide cost savings for customers and improve supply chain efficiencies for Solar Alliance.
“With California legislation requiring all new homes to have solar starting in 2020, and other states soon to follow, the new home segment is one of the fastest growing markets and this program provides a fantastic tool to address that demand,” said Chairman and CEO Jason Bak. “SunBox provides residential developers with all of the tools they need to provide their customers with a permit-ready solar package. Including solar in the initial home design makes long term economic sense and provides another option for developers to offer their customers. The new home market is massive, and this program allows us to target it strategically.”
“The residential package was specifically designed with both performance and aesthetics in mind to enhance the homebuilder’s product,” said Solar Alliance VP Harvey Abouelata. “Our systems are optimized, monitored down to the individual panel, have a storage component and can be equipped with an optional variable speed whole house generator. For a clean look we use all black panels with all black frames and black railing. We knew we had to design a solar package that was easy to incorporate for architects and builders and deliver high value to the homeowner. SunBox delivers on all of these criteria.”
Solar Alliance will initially offer the standard offer program in Tennessee, followed by entry into the North Carolina, South Carolina, Georgia, Kentucky and California markets. The addressable market is significant and California has already mandated all new homes are required to have solar starting in 2020. The table below outlines the number of new single-family home permits applied for in each of these states, representing a rough estimate of the potential market Solar Alliance is targeting.
|State||New Home Permits (2017)|
|Total 2017 New Home Permits||210,746|
Source: US Government Census
Jason Bak, Chairman and CEO
About Solar Alliance Energy Inc. (www.solaralliance.com)
Solar Alliance is an international energy solutions provider focused on residential, commercial and industrial solar installations. The Company operates in California, Tennessee, North/South Carolina and Kentucky and has an expanding pipeline of solar projects. Since it was founded in 2003, the Company has developed wind and solar projects that provide enough electricity to power 150,000 homes. Our passion is improving life through ingenuity, simplicity and freedom of choice. Solar Alliance reduces or eliminates customers’ vulnerability to rising energy costs, offers an environmentally-friendly source of electricity generation, and provides affordable, turnkey clean energy solutions.
Statements in this news release, other than purely historical information, including statements relating to the Company’s future plans and objectives or expected results, constitute Forward-looking statements. The words “would”, “will”, “expected” and “estimated” or other similar words and phrases are intended to identify forward-looking information. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, level of activity, performance or achievements to be materially different than those expressed or implied by such forward-looking information. Such factors include but are not limited to: uncertainties related to the ability to raise sufficient capital, changes in economic conditions or financial markets, litigation, legislative or other judicial, regulatory and political competitive developments and technological or operational difficulties. Consequently, actual results may vary materially from those described in the forward-looking statements.
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