SOURCE: Sky Power Solutions Corp.

September 28, 2011 06:00 ET

Sky Power Solutions' Stand Alone, Residential, Solar Concentrating, Electric Power Generation System, to Qualify for French Government 50% Tax Credit, Tax Free Income, Interest Free Loans and Possible Grant Incentives to Sell Surplus Power to Utility, Saving Users More

MOORESVILLE, NC--(Marketwire - Sep 28, 2011) - Sky Power Solutions. (OTCBB: SPOW) (www.skypowersolutions.com), an emerging leader in the development and marketing of next generation lithium-powered batteries worldwide, and a leading developer of residential concentrated solar collector electric generating power systems able to produce in excess of 2 Kilowatts (kw) of electric power with ZERO emissions using Sun Light as the only fuel, is pleased to announce the Sky Power system will qualify for French Government incentives for solar, renewable energy installation.

Consumers who install the Sky Power system in France can receive a 50% government tax credit, an interest free loan, potential eligibility to a grant, and the possibility of a modest tax free annual income. A 'tax credit' means that, even though you may not pay income tax in France, the French government will give you an equivalent sum in cash.

All of this is the result of a major drive by the French government to increase the amount of renewable energy produced each year to comply with EU objectives.

The resale of electricity into the French electric grid from photovoltaic solar panels has been available to householders since 2006, although until recently the income realized from it was subject to income tax. Provided the power produced by the installation does not exceed 3kwh, then the income received will be free of income tax. The amount of income that could be generated each year is in the order of EUR 1500/EUR 2000 for a 3KW system. "The French government has provided great incentives for homeowners who install the Sky Power system making the time to recover the cost of the unit very short, meaning your Sky Power system becomes a source of extra tax fee income," says Rich Ralston, PR and Media Manager for Sky Power Solutions.

France uses Feed-in-Tariffs for the rates solar users are paid for the electric power they sell to the grid. The rates range from: EUR 0.34 to EUR 0.58/KWh depending on the how the system is integrated. Feed-in-Tariff rates are higher than the rate electric power is sold by the utility to residential customers.

The Sky Power system is being developed at the R & D facilities of Li-ion Motors Corp., using the same team that led to winning the 2010 X-Prize for Li-ion Motors in the side by side competition by achieving an astonishing 187MPGe with their WAVE II all electric car. Taking advantage of lessons learned in the development of the most efficient car to date, Sky Power Solutions has harnessed this mind power for the further development of the Sky Power, Residential, Stand Alone, Solar Concentrating, Electric Generation system.

The Sky Power Solutions residential solar power station will have the ability to reduce the average user's monthly electric grid consumption by up to 30-40% with ZERO emissions and a ZERO carbon footprint; using only the power of the Sun. Visually appealing, the Sky Power Solutions system can easily be installed in most backyards taking less than one third of the space of conventional Solar panels. The entry level price point for a Sky Power Solutions-Concentrated Solar electric system is estimated to be $5,000 at release. Multiple units can be combined for increased capacity and the amount of electricity sold to the grid.

Electric consumption in the United States is increasing at a rate that will outpace the anticipated expansion of the US Electric Grid's capacity and Sky Power Solutions has identified this and is poised for expansion into the Residential Electric Power Generation market to allow end users to generate and return 30-40% of their electric usage back to the grid using "Net-Metering" and the Sky Power System as well as providing abundant, clean electricity during periods of rolling blackouts due to an overstressed electric grid.

FORWARD LOOKING STATEMENT:
This press release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on the Company's current expectations as to future events. However, the forward-looking events and circumstances discussed in this press release might not occur, and actual results could differ.

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