Press Release | 08.18.2016
Sunvalley Solar Awarded New Contract to Build Eight Separate Solar Systems for Parkwoods HOA
Walnut, California August 18, 2016 Sunvalley Solar, Inc. (SSOL), a leading solar power technology and solar system integration company, announced today that Rayco Energy (a full owned subsidiary of Sunvalley Solar Inc.) has been awarded a contract to build eight separate photovoltaic systems for Parkwoods community Homeowners Association (HOA) located in Oakland, California. The community has approximately 433 units and these solar systems will help offset the common area utilities for the HOA.
The eight separate Photovoltaic Systems with a total of 150 KW-DC has an estimated annual generation of 215,463 KWh. The system is designed with high efficiency 285 watt made in USA solar panels along with Enphases micro-inverter system to maximize project output. Parkwoods will be one of the first HOAs in Northern California to utilize PG&Es Net Metering Aggregation (NEMA) program. NEMA gives Parkwoods the ability to aggregate or combine multiple meters under a single, centralized source of renewable power generation.
We are beginning to see more HOAs adopt solar energy as a part of the long term strategy for lowering overall operating costs. As electrical rates continue to rise in California, 2nd largest state in terms of number of HOAs, we are seeing more and more communities show interest in installing solar to cover both common area and individual unit electrical bills. Said Ricky Chu, CEO from Rayco Energy.
Dr. James Zhang, CEO/President of SSOL, notes that, "The acquisition of Rayco Energy expanded our existing solar business footprint from mainly Southern California to Northern California, it also expanded our business coverage from commercial solar systems to the residential and multi-family sector projects. The new awarded contract from Parkwoods HOA is a good start of our multi-family sector solar energy business for Rayco Energy as the full owned subsidiary of Sunvalley Solar Inc.
About Sunvalley Solar, Inc.
Sunvalley Solar, Inc. is a leading solar system solution provider that offers comprehensive solar energy technology, system design, installation, equipments, and technical support for electrical contractors, builders, homeowners, businesses/commercial buildings, and government entities that assist them in lowering of utility bills, reducing environmental impacts, and increasing energy reliability and independence through solar energy. Located in Los Angeles, California, Sunvalley Solar, Inc. is committed to reducing the worlds carbon foot print from traditional energy sources to make renewable sources such as solar the nations mainstream source of power.
To learn more, visit www.sunvalleysolarinc.com.
Forward-Looking Statements: The statements in the press release that relate to the Company's expectations with regard to the future impact on the Company's results from acquisitions or actions in development are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The statements in this document may also contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Forward-looking statements are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those contained in such statements. Such risks, uncertainties, and factors include, but are not limited to, future capital needs, changes, and delays in product development plans and schedules, or market acceptance.
Sunvalley Solar, Inc. Investor Relations
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