SOURCE: savwatt usa inc

savwatt  usa inc

January 04, 2011 09:19 ET

SavWatt's LED Products Qualify for Green Grants & Tax Deductions

BALTIMORE, MD--(Marketwire - January 4, 2011) - SavWatt USA, Inc. (OTCBB: SAVW) pioneers in LED lighting and the Green revolution, announced today that there are many opportunities that exist for homes or businesses to receive grants and or tax deductions by switching to LED lighting. Users of LED lighting simultaneously increase their financial savings and decrease negative impact on the environment. The benefits are obvious, and it is only a matter of time before people realize the significance of that light above their head.

The federal Energy Policy Act of 2005 offers tax incentives to energy-efficient commercial buildings. Any building that can cut its lighting power density by 25-50 percent is eligible to receive a tax reduction of 60 cents per square foot.

Michael Haug, SavWatt CEO, commented, "Imagine the federal government handing you a nice check just for making a building environmentally friendly. Those types of programs are in the works on a variety of levels. Many tax breaks have been authorized by federal legislation, even for the home owner."

Mr. Haug further commented, "Each LED light bulb saves approximately $30 annually in energy costs and eliminates the equivalent CO2 as half a barrel of oil; Each 1,000 square foot store on average would save nearly $600 annually and eliminate the equivalent CO2 as 10 barrels of oil. Starbucks recently finished replacing nearly all of its incandescent and halogen lighting with LEDs during a two-year roll-out to over 7,000 company-owned stores, most in the United States and Canada, but with some in Europe and Asia. This is the largest deployment yet of LED technology in an application that is very sensitive to the quality of light; Starbucks' success proves that the new digital lighting is ready for mass install."

About SavWatt

SavWatt is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energy-efficient, environmentally friendly LED lighting. SavWatt is a market-leading innovator of LED lighting. SavWatt's product families include LED fixtures, bulbs, Street Lights and Parking Lights. For additional product and company information, please refer to To hear Recorder updates on the company Text SAVW to 46800.

This press release contains forward-looking statements involving risks and uncertainties, both known and unknown, that may cause actual results to differ materially from those indicated. Actual results may differ materially due to a number of factors, including the risk we may encounter delays or other difficulties in ramping up production of our new products; the rapid development of new technology and competing products that may impair demand or render SavWatt's products obsolete; and other factors discussed in SavWatt's filings with the Securities and Exchange Commission, including its report on Form 10-K for the year ended December 31, 2009, and subsequent filings.

SavWatt is a registered trademark of SavWatt USA, Inc.

Contact Information