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Sustainable Energy Technologies Ltd ('Sustainable Energy' or the "Company") (TSX VENTURE:STG) announced Ontario's first factory assembled solar PV systems for the micro-FIT and small FIT market. Designed to reduce design and on site labor costs by up to 90% and to de-risk the installation process for project developers, the systems will be marketed exclusively in Ontario by ProFab Solar, ( www.profabsolar.com) a joint venture subsidiary of Sustainable Energy and Steeltree Structures.
Each ProFab system will consist of prefabricated racking and all other DC side components, including, in most cases, solar PV modules and the PARALEX inverter which are pre-assembled and pre-certified in the factory to meet Ontario safety standards.
"Customer response in pre-marketing has been outstanding. This is a breakthrough for Ontario and the buy-in has been very encouraging to our price points which enable attractive investment returns even with the recently announced lower feed in tariffs," commented Michael Carten, Chief Executive Officer of Sustainable Energy.
"Kits and bundles consisting of matched DC side components for smaller systems are where the industry is going in order to streamline installation and reduce design, procurement and installation costs. Standardized factory assembled solutions also enable better bankability by ensuring a stable cost structure and eliminating the risk of installer error."
"PARALEX expands the value of preassembled systems by accommodating site specific conditions, such as partial shading, and by enabling flexibility in the system array wattage without changing components or the basic design."
"Our strategy is to lever the PARLEX advantages to capture a higher share of revenues and increase the bottom line contribution per sale while still bringing down the overall cost of the system to our customers," added Carten.
Sustainable Energy will sell the ProFab systems in Ontario through a limited number of dealers and directly to large system aggregators and project developers throughout the Province and into nearby US markets. ProFab systems will be demonstrated to the public at the Canadian Solar Industries Solar Ontario Show in London Ontario on May 14 and 15th 2012.
About ProFab Solar:
ProFab Solar is a joint venture subsidiary of Sustainable Energy with Steeltree Structures which supplies the racking and assembles systems exclusively for ProFab Solar in Ontario. The ProFab system delivers a lower cost, lower risk solution for smaller system developers, which is more bankable, and which delivers attractive investment returns even with the new lower feed in tariffs.