Sustainable Energy bets on Ontario solar market – Yahoo! News

Sustainable Energy Technologies Ltd, a solar equipment maker that recently relocated to Toronto from Calgary, may soon land its first large-scale orders in its new home province, the world's newest “go-to” region for solar power.

The company, whose shares have risen 150 percent in the past year, also expects to announce a tie-up soon with a top European solar panel maker to supply the Ontario market with thin-film panels carrying Sustainable Energy's power inverters, its chief executive said on Monday.

Inverters are key components of power systems that turn the sun's rays into electricity as they convert the direct current output generated by the solar panels into the alternating current that the power grid runs on.

“We have been approaching the major thin-film suppliers in Europe. … We have developed substantive relationships with those European suppliers, which are major names in the market place,” said Chief Executive Officer Robert Bucher.

“We expect to have an announcement soon on that for the Ontario marketplace,” he told Reuters in an interview.

Ontario last October launched the most comprehensive and generous set of feed-in tariffs in North America, piquing the interest of Canadian and foreign renewable energy companies at a time when Europe is starting to roll back its support for the sector.

Ontario's incentives guarantee sellers of electricity produced from the sun and other renewable sources fixed, above-market prices for 20 years, with the rooftop solar industry — Sustainable Energy's main market — getting some of the most mouth-watering rates.

“We see Ontario as taking over most of our investment this year and next year even though we will continue in Spain and Greece,” Bucher said.

Sustainable Energy, which sells its inverters in Spain and Eastern Europe, is a small fish in a big pond housing competitors like Germany's SMA Solar Technology AG, the world's No.1 inverter company with more than 50 percent of the market.

But the 11-year-old Canadian company, which started off life in the fuel cell industry, has won some fans who like its technology. Unlike most competitors' systems, Sustainable's cuts out the need to have an inverter on every solar panel, which is expensive.

“We definitely think it's the most compelling inverter out there in the market right now,” said Khurram Malik, research analyst at Jacobs Securities, a Toronto-based renewable energy brokerage.

Sustainable Energy recently moved its head office from Calgary to Toronto to take advantage of Ontario's lucrative green energy incentives.

It plans to have a production facility up and running in Ontario by the summer producing 60 megawatts of power. It expects to double capacity to 120 MW in 2011.

Bucher expects the first Ontario orders for commercial rooftop systems of 200 kilowatts or higher in the next few days or weeks, a step toward the company's targeted revenue this fiscal year of between C$40 million ($38.4 million) and C$60 million.

That is a massive increase on 2009's revenue of just C$82,443.

Sustainable Energy's stock closed down 1 Canadian cent, or 2.86 percent, at 34 Canadian cents on the TSX Venture Exchange on Monday.

(Reporting by Nicole Mordant; Editing by Frank McGurty)

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I hope you’ve been enjoying my posts lately. I thought I might do something different today and rustle up a few bits of info from around the WWW. These are some of the news items and blog posts that have been popular over the last few weeks. Leave me your thoughts.

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Are you looking for a way to reduce your monthly electricity bills? Are you concerned that the sky rocketing cost of petrol will increase your energy costs? If you, like most people, depend on thermal power plants for electricity in your home, you have every reason to be worried. The fossil fuels that thermal power plants run on are fast depleting and getting more expensive as a result. You ought to secure yourself against rising electricity bills by converting to solar power for homes.

The way to get solar power for homes is by installing solar panels on a surface that gets unobstructed sun rays. Your roof is ideal for this because the solar panels could get damaged if things fell on them.

This method of generating power works best in places that get sunlight most days of the year. It does have some installation costs since the photo voltaic panels that comprise its main part could be expensive. However, these panels could last at least twenty years without needing replacement. They do not need any maintenance other than that they need to be periodically wiped clean. If you permit dust to settle on the panels, they will not get the sun’s rays and will no longer work effectively.

Since sunlight is not available at night, you will also need to get batteries that can be powered by the photovoltaic panels. This will help you get electricity at night as well.

There are many companies that offer to install solar powered units for homes. You will have to shop around to find the best option for you. You could also find one at a price that suits you. Solar technology has improved considerable since its early days. The latest solar panels are smaller than their predecessors and cost less.

Even government has realized the long term value of having more people switch to this clean and silent source of energy. If you set up solar panels at your home you will be eligible to a tax rebate. The more panels you have, the higher the rebate.

Solar power units are easily installed and very easy to use as well. You may incur a high initial cost, but you will get a lifetime of savings. It makes good sense for you to switch to solar power for homes. You will benefit from it and so will your future generations.

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Are you seriously looking for a proven way to save money on your electricity bills? There is a Guide which will help you to Build solar power at home. You will be surprised to know that how easy it is to Build a solar panel at Home, that will not only save your money but you will help in cleaning the environment. Check the Guide

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