LOUISVILLE, Colo. and KAILUA, Hawaii, June 17, 2014 (GLOBE NEWSWIRE) -- Sunetric, a wholly-owned subsidiary of RGS Energy (Nasdaq:RGSE), has deployed a 198.8 kilowatt (kW) photovoltaic (PV) system with automated curtailment and smart-grid controls at a popular beachfront resort on the island of Kauai in Hawaii. The system is funded and owned by Kairos Energy Capital, a Hawaii-based merchant bank which finances and invests in solar.
The system assures all electricity generated by the PV system is consumed by the local facility and not fed back into the utility grid. This reduces the impact on the local circuit and makes it easier for the island's electric utility provider, Kauai Island Utility Cooperative (KIUC), to manage the grid.
The solution addresses the concerns of KIUC and other utilities regarding "grid saturation," where electricity generated by a solar PV system exceeds the maximum amount allowed on a particular circuit. Since Sunetric's PV system intelligently avoids flowing electricity back onto the grid, it resolves this issue while providing customers the economic and environmental benefits of solar energy.
This Kauai project incorporates solar panels onto a parking canopy and is expected to save the resort more than $30,000 annually in energy costs. KIUC has been closely monitoring the PV system through interval data and confirms the solar array has not exported power to the grid. The Sunetric engineering team spent four months developing, testing and implementing this custom solution, which now serves as an excellent model for PV installations where interconnection capacity is a concern.
"We partnered with Sunetric to deploy this unique solution because they are one of the largest and most well established local solar developers and installers in Hawaii," said Larry Gilbert, managing partner and CEO at Kairos Energy Capital. "The Sunetric team brought great engineering know-how and top-notch service to the project, which has become one of our most innovative solar technologies to date. Sunetric now supports our ongoing efforts to help businesses 'go green' by adopting solar."
Sunetric's president, Aaron Kirk, commented: "We are committed to meeting our customers' special requirements, and we thrive on tackling challenges like this one that involve designing and installing an unconventional curtailment system. It represents our first solar-to-grid curtailment solution that overcomes utility grid saturation concerns common in the Hawaiian Islands. This popular Kauai resort has now created a more sustainable future for themselves and their guests, and we expect other Hawaii resort properties to follow."
About Kairos Energy Capital
Kairos Energy Capital is a Hawaii-based merchant bank which finances and invests in solar, wind and other renewable energy projects in Hawaii. Kairos and its principals were the first Hawaii-based company to successfully implement commercial power purchase agreement financing for solar PV in Hawaii, and continue to be one of the leading providers of PPA financing for commercial, non-profit and condominium solar projects. For more information, visit www.kairosenergycapital.com.
Sunetric is one of the largest and most experienced solar developers and integrators in Hawaii. As a full-service solar energy firm, the company handles every stage of the design, development and installation of photovoltaic systems on Oahu, Maui, Kauai, Molokai, Lanai and the Big Island. Sunetric is a wholly owned subsidiary of RGS Energy. For more information, visit http://sunetric.com/.
About RGS Energy
RGS Energy (Nasdaq:RGSE) is one of the nation's pioneering solar energy companies serving commercial, residential, and utility customers. Beginning with one of the very first photovoltaic panels sold to the public in the U.S. in 1978, the company has installed more than 22,500 solar power systems representing over 235 megawatts of 100% clean renewable energy. RGS Energy makes it very convenient for customers to save on their energy bills by providing a comprehensive solar solution, from design, financing, permitting and installation to ongoing monitoring, maintenance and support.
As one of the nation's largest and most experienced solar power players, the company has 20 offices across the U.S. For more information, visit RGSEnergy.com, on Facebook at www.facebook.com/rgsenergy and on Twitter at https://twitter.com/rgsenergy. RGS Energy is a trade name and RGS Energy makes filings with the Securities and Exchange Commission under its official name "Real Goods Solar, Inc."
Cautionary Statement Regarding Forward-Looking Statements
This communication includes forward-looking statements relating to matters that are not historical facts. Forward-looking statements may be identified by the use of words such as "expect," "intend," "believe," "will," "should" or comparable terminology or by discussions of strategy. While RGS Energy believes its assumptions and expectations underlying forward-looking statements are reasonable, there can be no assurance that actual results will not be materially different. Risks and uncertainties that could cause materially different results include, among others, RGS Energy's failure to successfully complete future projects, introduction of new products and services, completion and integration of acquisitions, possibility of negative impact from weather conditions, supplier delivery disruptions, possibility of negative economic conditions and other risks and uncertainties included in RGS Energy's filings with the Securities and Exchange Commission. RGS Energy assumes no duty to update any forward-looking statements.
CONTACT: Media and Investor Relations Contact for RGS Energy: Ron Both Liolios Group, Inc. Tel 1-949-574-3860 RGSE@liolios.com Sunetric Media Contact Hannah Lee Marketing Manager Tel 1-808-262-6600 firstname.lastname@example.org
Source: RGS Energy