Iselin, N.J. – US Solargy, Inc. CEO David Wei unveiled on November 21, 2009 the company’s innovative Industry-First No Credit Check Power Purchase Agreement (PPA) at the “Go Green Cost Saving Energy Forum,” showing that it is now possible for New Jersey families, businesses, governments and nonprofit organizations to afford socially-responsible solar energy without worry or a large investment.
Mr. Wei was one of several members from the business, governmental, environmental and energy communities who participated in the energy forum that focused on the environment and reducing energy bills.
The topic matches US Solargy’s mission to make the planet cleaner for future generations by allowing everyone to afford solar energy. The company’s unique PPA created interest at the forum.
“Everyone knows that the sun is safe, clean and a free source of energy, but the costs to harness this resource have prohibited many from making the socially-responsible decision to go solar,” Wei said. “That is no longer a concern with our company’s method to provide solar energy, without maintenance costs or large capital investment, to anyone who wants it.”
Instead of purchasing an entire solar power system and taking on all maintenance and repair costs, US Solargy customers pay about one-third the amount of a system upfront (about $2.95 per watt*), which includes full system maintenance, warranty and monitoring by the company’s expert staff.
Once installed by US Solargy’s fully-licensed, insured and experienced installers, customers pay just 5 cents per kilowatt** for their energy – compared with the state average price of 22 cents per kilowatt.
US Solargy also guarantees that rates will not increase by more than 3.5 percent per year compared with an average of 6.5 percent annual increases that New Jersey consumers have experienced over the last twenty five years.
With US Solargy’s PPA, a typical monthly energy bill is reduced by about 75 percent.
The forum was organized by Jamesburg Councilwoman Brenda Deans. Others attending included Middlesex County Freeholder James Polos, PSE&G’s Shauwea Hamilton and Toria Williams of the New Jersey Clean Energy Program.
“It was great to share ideas with so many people who are concerned about our environment and dedicated to preserving our planet,” Wei said. “We all want to save the environment, and our company provides a way for everyone to participate in that important goal.”
* Price may vary depending on the type of solar system installed.
** 5 cents per kWh is the first year initial cost with 3.5 percent annual escalation.
