ROCHESTER, New York, May 30, 2012 – Arista Power, Inc. (“Arista Power” or the “Company”) (OTCBB: ASPW.OB), a developer, manufacturer, and supplier of custom-designed power management systems, renewable energy storage systems, wind turbines, and a supplier and designer of solar energy systems, announced today that Solarize Madison has selected Arista Power as one of two contractors for Madison County, New York’s Solarize Madison program to install at least 30 solar photovoltaic (PV) systems in the county. The program is expected to be worth approximately $400,000 in revenue to Arista Power in 2012.
“Arista Power was selected out of the pool of installers that applied for a variety of reasons. They offered competitive pricing, an experienced installation team, a strong network of suppliers, a familiarity of New York State and the NYSERDA incentive application process, and a strong, collaborative company presence,” said Scott Ingmire, Director of Madison County Planning Department.
John Benetti, Project Director at Arista Power, said, “We are proud to be part of the solution for increasing energy independence in Madison County. Solarize is an initiative that has been gaining interest across the country by progressive communities that want to bring solar power and all of its benefits to its constituents in a cost effective and easy way. The outstanding Madison County team not only brought to the area the Solarize initiative, but they also, through the Central New York Regional Planning and Development Board for Climate Change and Innovation Program (C2IP), made Solarize even more attractive by obtaining additional funding with grants.”
Solarize Madison was initiated by the Madison County Planning Department and the Central New York Regional Planning and Development Board with support from the Renewable Energy Training Center at Morrisville State College with the goal of bringing solar energy to Madison County with cost savings through volume purchasing and a streamlined installation process. The Solarize Madison program is receiving additional funding via a grant by the Central New York Regional Planning and Development Board for Climate Change Innovation Program (C2IP) that provides Madison County up to $30,000 to promote the use of energy conservation measures and alternative energy development.
The Madison County Planning Department is offering fifteen $2,000 grants to help offset the acquisition costs associated with installing a direct-own solar photovoltaic system.
Glenn Steed, Arista Power’s Installation Coordinator, said, “I am looking forward to working on this great project along with the various contractors and educational institutions within Madison County. The community element of the Solarize Madison program is going to be a great boon to our industry, not only within Madison County, but throughout New York State as well.”
Interested participants must pledge by September 30, 2012 to install a system. Pending successful site evaluations by Arista Power, total project capacity should be attained by the end of October 2012. The program is open to all Madison County home and business owners, farmers, institutions, and municipalities on a first come first serve basis for a limited time. Interested parties should go to solarizemadison.com for more information.
About Arista Power, Inc.
Arista Power, Inc. is a developer, manufacturer, and supplier of custom-designed power management systems, renewable energy storage systems, WindTamer wind turbines, and a supplier and designer of solar energy systems. Arista Power’s patent-pending Power on Demand system utilizes inputs from multiple energy sources including wind, solar, fuel cells, and the grid, in conjunction with a custom-designed battery storage system and a proprietary smart monitoring technology that releases energy at optimal times to reduce peak power demand, thereby lowering electricity costs for large energy users who deal with peak usage pricing. Arista Power also sells a Mobile Renewable Power Station that utilizes energy generated from wind, solar PV, generators, fuel cells and other energy-generating devices that is stored in an integrated onboard storage device for military and other applications, and a stationary, scalable Renewable Power Station that can be drop-shipped to off-grid locations to be used as a micro-grid. Arista Power’s diffuser-augmented WindTamer wind turbine utilizes a patented technology for the production of electrical power.
About Solarize Madison
Solarize Madison is a grassroots community effort in Madison County, New York that is focused on community solar initiatives to help residents, business owners, and municipalities overcome the financial and logistical hurdles of installing solar power through high volume group purchasing. The project will effectively merge community activism and education, simple low-cost marketing, job creation, and economies of scale to drive participation. The goal of Solarize Madison is to transform interest in clean energy into action by tackling the three major market barriers: cost, a complex process, and customer commitment. For more information visit: solarizemadison.com or madisoncounty.org/planning/energy.php
About Central New York Regional Planning and Development Board
The Central New York Regional Planning and Development Board (CNY RPDB) is a public agency that was established in 1966 by Cayuga, Cortland, Madison, Onondaga, and Oswego Counties. The CNY RPDB provides a comprehensive range of services associated with the growth and development of communities in Central New York. In February 2012, the CNY RPDB announced the formation of a partnership with the New York State Energy Research and Development Authority (NYSERDA) to develop an innovative outreach program – the Central New York Energy Challenge – to encourage and assist property owners throughout Central New York to conserve energy, make energy upgrades, and implement renewable energy projects. As part of the CNY Energy Challenge the CNY RPDB, in partnership NYSERDA, has launched a pilot program called “Energy Challenge Teams.” For additional information on CNY RPDB and the Energy Challenge, visit: cnyrpdb.org
About Renewable Energy Training Center at Morrisville State College
The Morrisville State College Renewable Energy Training Center (RETC) provides technical short courses for individuals seeking marketable skills in renewable energy fields. The RETC is an alliance of employers, training providers, economic development partners, and K-12 schools to address long-term and short-term needs of New York State’s renewable energy sector. Courses focus on renewable energy resources and systems, including wind, solar, micro hydro, geothermal, and bioenergy/biofuels. For additional information on Morrisville’s Renewable Energy Training Center, visit: http://retc.morrisville.edu/ and for information on Morrisville State College, visit: morrisville.edu
This press release may contain forward-looking statements based on current expectations that involve a number of risks and uncertainties. Arista Power, Inc. cautions investors not to place undue reliance on forward-looking statements, which reflect Arista Power’s analysis only as of today’s date. There can be no assurance that such forward-looking statements will prove to be correct, and actual results could differ materially. Arista Power undertakes no obligation to publicly update forward-looking statements. Further information on these factors, and other factors that could affect Arista Power’s financial results, is included in Arista Power’s Securities and Exchange Commission filings, including the latest Annual Report on Form 10-K.
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