SOURCE: Bright Power, Inc.

Bright Power, Inc.

February 06, 2012 10:30 ET

Bright Power Named to Access $30 Million Fund for NYC/Westchester Solar Projects

NEW YORK, NY--(Marketwire - Feb 6, 2012) - Bright Power is on a limited list of solar installers awarded access to a $30 million fund provided by the New York State Energy Research and Development Authority (NYSERDA) and the state Public Service Commission (PSC) to help fund large-scale solar projects in New York City and the lower Hudson Valley.

Bright Power is actively seeking building owners interested in installing solar energy systems that will earn a robust return on investment (three-year payback) and reduce their electrical energy costs for the next 25 years. To be eligible, buildings should ideally have at least 10,000 square feet of unshaded roof, ground, or parking lot space, and annual electric bills exceeding $25,000 per year (approximately $2,000/month). Bright Power is offering free roof assessments to building owners interested in this program; financing options are available.

Bright Power was selected in January 2012 to receive funds by a competitive application process as part of NYSERDA Program Opportunity Notice 2156 (PON 2156). The funds are part of the RPS Customer-Sited Tier Regional Program, which will offer $150 million over the course of five years to encourage large businesses -- particularly manufacturing facilities, colleges & universities, and schools -- to access incentives for renewable energy. Of the $30 million awarded each year, $25 million is designated for New York City and Westchester County, and $5 million for the Hudson Valley region. The program is funded under the state's Renewable Portfolio Standard (RPS). The RPS, created by the state Public Service Commission in 2004 to reduce dependence on fossil fuels, is administered by NYSERDA using a surcharge collected from ratepayers served by investor-owned utility companies.

About Bright Power:
Bright Power -- a leading provider of renewable energy, energy efficiency and green building solutions for multifamily, commercial and industrial buildings -- is a recognized leader in New York City solar installations. Bright Power is currently in the installation phase of what will be the largest residential solar PV system in New York State (210 kW, Brooklyn) and received a 2011 6KC award from the New York Solar Energy Industries Association (NYSEIA) for a Bronx installation. The Bright Power solar team specializes in designing elegant, safe, cost-effective systems that respond to the most aggressive bidding and construction schedules.

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