Wellington Home Reduces Electricity Expense by 75%

FOR IMMEDIATE RELEASE

Wellington Home Reduces Electricity Expense by 75% with Powersmart’s Grid Connected Solar Power System

Wellington - April 24, 2008. A Wellington family have achieved an immediate reduction in their home utility expenses after the first month of living in their new, energy efficient home. The home, designed by Energy Efficient Homes Ltd., will reduce the homeowner’s annual electricity expense by approximately 75% through the use of energy efficient design and a Powersmart Grid Connected Solar Power System.

An average NZ home uses approximately 10,000 kWh of electricity per annum. This energy efficient, 364 m2, 4 bedroom home is thermally efficient, uses a Digital Self-Heating Home package (DSHH), and solar water heating to reduce the overall energy demand to less than 5,000 kWh per annum. A Powersmart 1.26 kW, grid connected solar power system supplies almost half of the energy required to run the home.

Homeowner, Barry Ryan, was impressed with how easily and quickly his Powersmart solar power system was installed and says, “The system will continuously work for my family's financial and environmental future.

Everyone building a new home should consider the installation of a PV system."

The Powersmart solar power system, installed in March 2008, generated 150 kWh of electricity in one month. Annually, the solar system is expected to generate 1,772 kWh of electricity, providing the home with approximately 40% of its total energy needs. Powersmart’s grid connected systems are modular and can be easily expanded at a later date to further reduce electricity costs.

The Ryan’s will spend approximately $780 on utility costs this year, compared to $2,400 for the average NZ home. As energy prices rise, so will the value of their savings. In 5 years, the average homeowner’s annual utility bill is likely to be over $3,300 whereas, the Ryan’s will be only $1,000.

Grid connected solar power systems do not use batteries and allow homeowners to choose a system that suits their home and budget. Electricity required in addition to what the solar power system is generating is imported from the national grid. Surplus electricity generated by the solar power system is exported to the national grid. The energy retailer provides a direct credit on the homeowner’s monthly bill.

A residential, grid connected solar power system directly offsets electricity expense and increases the appraisable value of the home. These features create an annual, after-tax return on investment of 4-5% at current electricity prices.

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About Powersmart NZ Ltd.

Powersmart is a renewable energy company that brings global solar skills and expertise to NZ, Australia, and the South Pacific. Our system design, engineering, and finance skills make us a new generation solar company with the skills and experience needed to integrate solar technology across a wide range of applications. For more information please visit www.powersmart.co.nz.

About Energy Efficient Homes Ltd.

Energy Efficient Homes specialises in homes that are thermally efficient, as well as homes that require noise reduction, hypoallergenic features and storm/flood proofing. For more information please visit www.eehnz.co.nz.

ENDS

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