SatCon's Powergate(R) Inverters Power New Jersey 502 KW Ground Mounted Solar Electric Power System
November 16 2005 - 9:00AM
Business Wire
SatCon Technology Corporation(R) (Nasdaq NM: SATC), a developer and
manufacturer of power electronics and motors for the alternative
energy markets, today announced that two of its utility grade
Powergate(R) solar inverters are being utilized as the power
conditioning units for the new 502-kilowatt solar electric system
installed at New Jersey American Water's Canal Road Water Treatment
Plant located in Somerset, NJ. The SatCon PowerGate(R) Series AE-PV
inverters convert DC power from the solar array into AC power and
connect to the grid at 4160 volts, greatly enhancing the efficiency
of the overall system. The PowerGate(R)'s industry-leading high
efficiencies enable the site to generate more power, reducing the
payback period for the customer. "As part of our overall campaign
to reduce energy expenses, now and over time, we are working to
keep our costs down, which may enable us to pass those savings on
to our customers. In fact, with the rebate from the New Jersey
Clean Energy Program, the solar system alone will pay for itself in
about 7 years, possibly creating larger savings as the system
continues to produce energy for many more years," said Walter
Lynch, President of New Jersey American Water. The 502-kilowatt
ground mounted system was designed and built by Dome-Tech Solar,
Inc., a premier solar energy firm serving industrial and
institutional clients in the Northeast. "Dome-Tech Solar is proud
to have worked with SatCon to complete this prestigious project,"
said Tom Kuster, President, Dome-Tech Solar. "New Jersey American
Water's corporate vision is driving today's achievement --
installing and activating the largest ground mounted solar energy
system in New Jersey. We applaud New Jersey American Water for its
long-term view and willingness to take action now to harness clean,
renewable energy, reaping benefits today and well into the future
for the company and its customers." The system also includes more
than 2800 solar panels manufactured by Schott Solar and was
officially activated in ceremonies at the site on October 11, 2005.
New Jersey American Water expects it will be able to supplement 15%
of the peak usage power needed to run the plant with solar energy
and save New Jersey American Water approximately $115,000 a year in
energy costs. During peak production periods, the electricity
produced by the solar system would be enough to meet the average
electricity demand of more than 500 New Jersey homes. "We are
pleased to have been selected to provide the power conditioning
units for this project," stated Millard Firebaugh, President and
Chief Operating Office of SatCon Technology. "The PowerGate is a
proven, high quality product and is performing exceptionally well
in many systems like this around the country." About SatCon
Technology Corporation SatCon Technology Corporation is a developer
and manufacturer of electronics and motors for the Alternative
Energy, Hybrid-Electric Vehicle, Grid Support, High Reliability
Electronics and Advanced Power Technology markets. For further
information, please visit the new SatCon website at www.satcon.com.
About Dome-Tech Solar Dome-Tech Solar is a professional renewable
energy company specializing in analysis, design, engineering,
development, financing and implementation of solar photovoltaic
systems. Dome-Tech Solar offers strength in technical designs as
well as expertise in regulatory rebate, project financing and
Renewable Energy Credit programs. Driven by competitive financial
returns and superior environmental stewardship, Dome-Tech Solar
develops and builds renewable energy generation systems for
commercial, institutional and industrial clients. Go to
www.dometechsolar.com for more information. About NJ American Water
New Jersey American Water is the state's largest water utility
serving over two million people in 174 communities throughout the
state. About Schott Solar Schott Solar Inc. is North America's
leading manufacturer and distributor of solar power components and
systems, serving customers throughout the Americas from sales
offices in California, Massachusetts and the State of Washington.
The company's U.S. headquarters and manufacturing facility in
Billerica, Massachusetts, produces the largest solar power module
available worldwide, the ASE 300(TM). A pioneer in the design and
development of complete solar power solutions, Schott Solar Inc.
serves a highly diverse market including grid-connected residential
and commercial systems, and grid-independent industrial,
governmental and utility applications. Statements made in this
document that are not historical facts or which apply prospectively
are forward-looking statements that involve risks and
uncertainties. These forward-looking statements are identified by
the use of terms and phrases such as "believes," "expects,"
"plans," "anticipates" and similar expressions. Investors should
not rely on forward looking statements because they are subject to
a variety of risks and uncertainties and other factors that could
cause actual results to differ materially from the Company's
expectation. Additional information concerning risk factors is
contained from time to time in the Company's SEC filings. The
Company expressly disclaims any obligation to update the
information contained in this release.
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