The recent cuts in the rebate structure throughout the state have not cooled off the residential solar market in Delaware
Wilmington, DE (PRWEB) October 4, 2009
Suntricity Power Corporation (SGCLLC) (http://www.suntricitypower.com) installed the first Tri-State Installation of the Micro-inverter System in New Castle County, Delaware in 2008. Since last year the market has grown, with Suntricity Power contracting over 550kW of Residential installations in the region with the bulk located in Delaware.
Suntricity Power has just passed the $1,000,000.00 dollar mark in total grants reserved for residential Solar Energy in Delaware. These grants have been put to work creating jobs in Delaware and generating clean renewable energy. "The recent cuts in the rebate structure throughout the state have not cooled off the residential solar market in Delaware," said Mark Hall, a Suntricity Power Project Developer. Recent price decreases in the solar panel market have made up for the declines in state rebates.
The markets in the United States are expanding quickly. Right now we are in a solar energy Perfect Storm, here is why;
- Since late 2007, the price of solar panels has dropped about 60%. Because of a significant ramp up in US based panel makers and overseas manufacturers moving to less efficient polysilicate products.
- State Subsidies to 33% of installed costs create paybacks less than 6 years.
- Federal Tax Credits and Grants to 30% of the project cost.
These three factors create affordable solar energy for the right location. Solar Energy System rebates are expected to decrease in the region as more residential solar is installed. Suntricity Power currently offers solar energy products in the Tri-State area. The company has planned regional expansion throughout the 1st quarter of 2010.
Suntricity Power Corp. headquartered in New Castle, Delaware designs and develops residential and commercial solar installations in Delaware, Pennsylvania, and New Jersey .
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