Electron Solar Energy Closes Sale on Largest Residential Solar Energy Installation in Corporate History

Federal and State Incentives Generating Significant Increase in Contract Proposal Requests

MIAMI--(BUSINESS WIRE)--Electron Solar Energy (OTC: ESRG), an international distributor of alternative energy systems, announced today that the company has completed the sale of the largest residential installation sold by the company to date.

Electron has received a contract and payment on a 12.8KW grid tie solar energy installation. Installations on private residences have been limited to sizes between 2 and 10KW up until now. Revenues for the sale exceed $125,000. Engineering fees and materials deposits have already been collected, and construction is set to begin in early June.

President and CEO of Electron Solar Energy, Christopher Quinn, said “Changing incentives on the Federal and State levels have boosted solar energy sales to both homeowners and businesses. Rebate funds offered to homeowners by Florida's Solar Energy System Incentives Program that had been exhausted have now been replenished and will supposedly be available in 2010. This added incentive has motivated clients to purchase much larger systems than were popular before.”

Quinn added: “Businesses interested in going solar have benefitted greatly this year. The American Recovery and Reinvestment Act of 2009 provided a change in federal law that allows businesses to receive the 30% rebate in the form of a grant check rather than an income tax credit. This change has empowered clients to make an even larger financial commitment to going solar. Though today’s announcement marks the largest residential installation we have seen to date, commercial quotations are now each ranging into the millions of dollar. If this trend continues Electron’s immediate future will be much brighter than we had initially projected.”

To be included in the company’s database for company updates, press release and industry developments, investors and shareholders should send their e-mails to investors@electronsolarenergy.com.

About Electron Solar Energy

Electron Solar Energy, based in Miami, Florida, is engaged in the international distribution and installation of alternative energy systems. The Company's turnkey solutions provide solar and wind energy generation, as well as energy storage systems sold B2B and B2C worldwide. The Company also sells a proprietary line of sealed batteries, inverters, converters, Solar Panels, related components, and gas and diesel fuel generators. For more information on the Company, visit www.electronsolarenergy.com.

Original Link: http://www.electronsolarenergy.com/newsarticle.php?id=35




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