Green Mountain Energy Company and Standard Renewable Energy Offer Programs to Make Solar Panel Systems More Affordable for Texas Homeowners

Texas residents offered buy-back program, instant rebate and lowest price guarantee for home solar

June 30, 2009 — Texas — Green Mountain Energy Company and Standard Renewable Energy (SRE) are working together to provide Texas homeowners with the most affordable way to install and use solar panel systems. The companies are offering Texas residential customers SRE’s Statewide Instant Rebate and Lowest Price Guarantee that expires July 31, 2009, and Green Mountain’s Renewable Rewards Buy-Back program.

 

“These offers, coupled with the 30 percent federal tax credit on the cost of the solar panel systems, could put even more money back into Texans’ pockets, while supporting cleaner energy,” said Jordan Fruge, senior vice president for Standard Renewable Energy. “And for homeowners in the Greater Dallas Metroplex, additional rebates from Oncor could mean a total savings of up to 80 percent on a solar panel system.”

Green Mountain’s Renewable Rewards Buy-Back Program

Green Mountain recently launched its Renewable Rewards Buy-Back program that offers credit to Texas customers who install solar panel systems or other renewable generation facilities at their homes for any excess energy that their qualifying facility sends to the electricity grid. The Renewable Rewards program is available to new or current Green Mountain customers who meet the program’s requirements, which are listed at www.greenmountain.com/renewablerewards.

 

“Since we launched the Renewable Rewards Buy-Back program we have seen increased interest from customers who want to install a home solar system and participate in our Buy-Back program,” said Paul Markovich, senior vice president, Green Mountain Energy Company. “It is clear that many Texans want solar power for their homes.”

SRE Instant Rebate

SRE is offering a State of Texas Solar Panel System Instant Rebate during the months of June and July. Through this offer Texas residents have the opportunity to receive a $2 per watt instant rebate on an installed solar panel system.1

 

With the SRE Solar Panel System Instant Rebate, a rebate from Oncor of $2.46 per watt, and a federal tax credit, homeowners in the Greater Dallas Metroplex could save up to 80% on a complete solar panel system.2

SRE Lowest Price Guarantee

While SRE is confident that this dramatic instant rebate will make SRE’s prices the lowest in Texas, if customers find a lower price on a comparable system, SRE will beat it.3

 

Green Mountain and SRE are jointly promoting these offers to Texas homeowners. The companies want to help Texans take advantage of the benefits of clean, renewable energy by making it accessible and affordable. With these offers, homeowners can save money on the installation of a solar panel system and realize its full benefits with credit for excess production.

For Information or to Sign Up:

• SRE Instant Rebate Program or Lowest-Price Guarantee: Texas residents interested in finding out more about the SRE Texas Instant Rebate can call (214) 233-7108, or visit www.sre3.com/.

• Green Mountain’s Renewable Rewards Program: Texas residents interested in finding out more information about Renewable Rewards or signing up can call 866-473-3689, or visit www.greenmountain.com/renewablerewards.

About Standard Renewable Energy

Founded in 2006, Standard Renewable Energy (SRE) is the nation’s leading Distributed Energy Services Company (DESCO) and leading provider of energy efficiency and on-site renewable energy solutions for homes and businesses. Products and services include solar electric, solar water heating,and wind energy systems, energy monitoring services, energy audits, high-efficiency heating and cooling products, insulation, lighting, window film, and more. For further information, visit SRE’s website at www.sre3.com.

INSTANT REBATE DISCLOSURE

1IN ORDER TO BE ELIGIBLE FOR THE INSTANT REBATE, A CUSTOMER MUST PURCHASE A SOLAR PANEL SYSTEM OF A MINIMUM SIZE OF 1.4 kW FROM SRE BETWEEN JUNE 9, 2009 AND JULY 31, 2009 FOR INSTALLATION AT THEIR RESIDENCE LOCATED IN THE STATE OF TEXAS.

 

Additional fees and/or costs may apply. Customers shall receive the instant rebate in the form of a $2.00 per installed (DC) watt discount off of the purchase price of a solar panel system. The amount of the instant rebate shall be deducted from the total amount of the invoice for the solar panel system purchased by a qualifying customer. The instant rebate will not be provided to or mailed to customers in the form of cash or check after the customers’ purchase.

 

THE INSTANT REBATE OFFERED BY SRE IS NOT MADE IN CONJUNCTION WITH, WITH THE KNOWLEDGE OF, OR WITH THE PARTICIPATION OF, ANY CITY, STATE OR FEDERAL AUTHORITY OR UTILITY PROVIDER. CUSTOMERS SHALL BE SOLELY RESPONSIBLE FOR APPLYING FOR, AND DALCULATING THE AMOUNT OF ANY SOLAR POWER REBATES OR TAX CREDITS OFFERED BY CITY, STATE OR FEDERAL AUTHORITIES AND UTILITY PROVIDERS. ANY REPRESENTATIONS MADE BY SRE IN CONNECTION WITH SOLAR POWER REBATES OR TAX CREDITS OFFERED BY A GOVERNMENTAL AUTHORITY ARE FOR ILLUSTRATION PURPOSES ONLY AND ARE QUALIFIED IN THEIR ENTIRETY BY THE MORE DETAILED INFORMATION THAT A CUSTOMER CAN OBTRAIN FROM THE GOVERNMETNAL AUTHORIITIES OFFERING SUCH REBATES AND TAX CREDITS. For all of the terms and conditions applicable to this instant rebate, visit www.sre3.com/.

 

2Assumes system qualifies for a federal tax credit of up to 30% and that any and all rebates are assigned to SRE. These statements and estimated amounts are provided for illustrative purposes only and may vary based on individual systems. They are not intended to constitute tax or financial advice and are not intended to be used or relied upon to avoid penalties. Please consult your own tax and financial advisors.

 

3With a valid proposal quote from another solar installation company SRE will match the price, provided that the proposal reflects an identical system. For complete details on SRE’s lowest price guarantee, visit www.sre3.com/.

 

3Green Mountain Energy Company received the highest numerical score among residential electric service providers in Texas in the proprietary J.D. Power and Associates 2008 Texas Residential Retail Electric Service Satisfaction StudySM. Study based on responses from 2,572 consumers measuring 8 providers and measures opinions of consumers with their electric service provider. Proprietary study results are based on experiences and perceptions of consumers surveyed in June 2008. Your experiences may vary. Visit www.jdpower.com.

 

CONTACTS
Marci Grossman (Green Mountain) (602) 694-8972,
Marci.grossman@greenmountain.com

 

Kelley Wright (Standard Renewable Energy) (713) 269-4043
kwright@sre3.com