SkyFire Energy Inc

January 23, 2012 09:00 ET

Solar Power Offers Solution to Record-High Energy Costs in Alberta

Solar Energy Reaches Grid Parity in Alberta

CALGARY, ALBERTA--(Marketwire - Jan. 23, 2012) - SkyFire Energy Inc. (SkyFire) announced today that as the standard cost of electricity continues to reach record levels in Alberta, the opposite is true for solar energy which is now, in most cases, better than grid parity. Grid parity is the cost at which solar electricity costs the same as buying power from your utility. An investment in a commercial or residential solar electric system is now more affordable than ever.

"As energy market prices continue to rise to unprecedented levels in the province, there's never been a better time to shift to solar," says David Kelly, partner, SkyFire Energy. "Investing now in a solar system with SkyFire will secure a fixed rate as low as 12 cents per kilowatt-hour for 30 years."

The standard electricity price (Regulated Rate Option) in Alberta reached an all-time monthly record in January, increasing to over 18 cents per kilowatt-hour (15.1 cents for electricity and over 3 cents for transmission, distribution, and local access fees per kilowatt-hour.)

"The price of solar modules has steadily fallen so that an amortized solar system cost is at or better than the cost of buying grid power in most cases," says Kelly. "Further, if you are purchasing renewable energy certificates (RECs) to offset the greenhouse gas emissions resulting from energy consumption at your home or business, the economics of solar power look even better."

While there is still an upfront cost to investing in a solar system, there are financing options available through most banking institutions at historically low rates. Unlike most home improvements, which depreciate in value with age, solar panels will increase in value over time as electricity prices continue to rise.

Calgary is the sunniest major city in Canada and solar customers receive the additional benefit of receiving credit for any excess power returned to the grid. In addition to decreasing energy costs and increasing property value, solar power also benefits the planet with no pollution and water use required at the time of generation.

About SkyFire Energy Inc.

SkyFire Energy Inc. is one of Canada's largest solar EPC (Engineering, Procurement and Construction) contractors with photovoltaic systems operating throughout Western Canada, the Northwest Territories and Ontario. With an impressive portfolio that includes the largest installation in Western Canada, SkyFire's solar projects encompass all levels of government, commercial and industrial businesses, homebuilders and residential owners. SkyFire was recently recognized as one of the fastest growing companies in Alberta by Alberta Venture magazine. The SkyFire team includes professional engineers, photovoltaic technicians, and experienced installation crews, allowing them to provide turnkey solutions from design to installation and commissioning. Website: www.SkyFireEnergy.com Twitter: @SkyFireEnergy Facebook: SkyFire Energy

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