SOURCE: Verengo Solar Plus

Verengo Solar Plus

October 04, 2011 11:01 ET

Verengo Solar Plus CEO Randy Bishop Discusses Lower Panel Costs, Home Install Job Growth and Hiring on CNBC

ORANGE, CA--(Marketwire - Oct 4, 2011) - Verengo Solar Plus, one of the nation's leading residential solar companies, announced today that CEO and Co-Founder Randy Bishop appeared on CNBC recently to discuss one of the most vibrant sectors of the solar industry: residential installation.

"When we started in the business three years ago, panel prices were over half of the system cost, it's less than a quarter right now," Verengo CEO and Co-Founder Randy Bishop told CNBC reporter Jane Wells in a series of interviews (The Call and Closing Bell) on Sept. 7th.

"Our top line has more than doubled in the past year and we're profitable," Bishop told Wells commenting on the fact that the company had added 300 American jobs because of a combination of lower solar panel prices, faster permitting and easier financing options including zero down leasing.

Wells did the series of three reports on the remarkable growth of residential solar from a live location in Simi Valley, California as Verengo installers completed the installation of a 22 solar panel (3.8 KW) system on the roof of the two story home in less than six hours.

While pointing out that Germany installed ten times as much solar than the U.S. with a quarter the population and much less sunlight, Wells asked Bishop while there was an undoubtedly large potential for industry expansion what would happen if current utility rebates and federal tax credits were not available? "It would make it more difficult for people to afford," Bishop answered, then added, "energy such as oil and gas exploration has been federally subsidized for decades. Solar just needs a bit longer to catch up."

Bishop also referred to the latest tracking data released recently by the Lawrence Berkeley National Labs showing that the pre-incentive price of going solar in the U.S. dropped 17% last year and 11% in the first half of 2011 saying those were record cost reductions since the LBN Labs began tracking data.

To watch the segments of the interview and installation please go to http://www.youtube.com/watch?v=oVJKmoq9gC0&feature=youtube_gdata_player.

VERENGO SOLAR PLUS is changing the way America thinks about solar! As the #1 residential solar integrator based in Southern California, Verengo offers comprehensive financial options and superior customer service, and consistently earns an A+ with the Better Business Bureau. Verengo has reduced carbon emissions through its solar power systems, accomplishing the equivalent of planting 120,000 acres of trees, taking more than 48,000 cars off the road and saving homeowners $100 million in energy costs over the lifetime of Verengo's installed systems to date. For more information on Verengo Solar Plus, please visit www.VerengoSolar.com.

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