Vancouver, Canada, September 6th, 2017 – Solar Alliance Energy Inc. (‘Solar Alliance’) or (the ‘Company’) (TSX-V: SAN, OTC: SAENF) is pleased to announce it has been granted Approved Developer status for the California Self-Generation Incentive Program (“SGIP”). SGIP provides incentives to support existing, new, and emerging distributed energy resources including home battery storage. Solar Alliance has been allocated a portion of the incentives available for residential and small commercial storage systems and will manage the incentive applications for customers. Through Solar Alliance, customers can obtain an incentive of up to 60% of the cost of a home battery system. As an Approved Developer, Solar Alliance has been allocated up to 20% of the SGIP incentive funding for a given budget category in each statewide incentive step. The current stage of the incentive program consists of approximately $430 million in incentives. As an Approved Developer, Solar Alliance has the ability to offer an incentive package that many other competitors are not qualified to offer.
“Battery storage is transformative in the same way that cellphones and laptops allowed people to cut the cord, creating energy independence by powering a home even during a power outage,” said Chairman and CEO Jason Bak. “Combining this incentive program with the federal investment tax credit, homeowners may be eligible for up to 85% off the cost of a battery system when it is installed with a solar system. This makes battery storage extremely attractive and it is why we are integrating battery storage into our product offering. This is great news for new and existing Solar Alliance customers.”
Under the incentive program in California, a home battery is eligible for a state program that will pay up to 60% of the installed cost of the system. If a home battery is installed at the same time as solar panels, the home battery is also eligible for the federal U.S. Investment Tax Credit. Solar Alliance expects to announce a new relationship with a home battery provider in the near future.
“California is a leader in solar energy and this incentive program will make battery storage a reality for thousands of homeowners. Solar Alliance is uniquely positioned to provide homeowners with access to this battery storage incentive program and provide them with the energy independence that comes with battery backup,” concluded Bak.
Jason Bak, Chairman and CEO
About Solar Alliance Energy Inc. (www.solaralliance.com)
Solar Alliance is a sales, marketing and development company focused on residential, commercial and industrial solar installations. Since we were founded in 2003, we have developed wind and solar projects that provide enough electricity to power 150,000 homes. Solar Alliance is committed to an exceptional customer experience, effective marketing campaigns and superior lead generation in order to drive sales and generate value for shareholders. Our passion is improving life through ingenuity, simplicity and freedom of choice. We make solar simple and our goal is to install solar on every available rooftop in America.
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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