Cash Rebates to be Available for Wind Power and Hydroelectric Systems
August 26 2008 - 5:00AM
PR Newswire (US)
Nevada Utilities Expanding Renewable Energy Program RENO, Nev.,
Aug. 26 /PRNewswire-FirstCall/ -- Due to the success of the
SolarGenerations Program, Sierra Pacific Power and Nevada Power
Company are expanding their renewable energy programs to include
cash incentives for wind and hydroelectric power systems as well as
photovoltaic solar systems. Both Nevada utilities are wholly-owned
subsidiaries of Sierra Pacific Resources (NYSE:SRP). Rebates will
soon be available to help customers offset installation costs for
wind turbines and small, agricultural hydroelectric generating
plants. In addition, more rebates will be available to customers
who install solar photovoltaic systems. The last session of the
Nevada State Legislature made the SolarGenerations demonstration
program permanent, doubling the total amount of installed
photovoltaic energy eligible for rebates from 1,900 kilowatts to
3,760 kilowatts, and adding the new WindGenerations and
HydroGenerations programs. Together, these programs are called
RenewableGenerations. Customers can apply for rebates through the
new program beginning at 10 a.m. Pacific Daylight Time on Sept. 4,
2008, through 5 p.m. Pacific Daylight Time on October 8, 2008.
Customers are encouraged to apply early as applications are
accepted on a first come, first served basis, and the opportunity
to apply is only available once a year. The RenewableGenerations
team is available to answer questions about the application
process. Eligible customers include Sierra Pacific Power and Nevada
Power residential and small business customers who plan on
installing a photovoltaic system or a wind turbine at their homes
or businesses. Schools and public buildings are also eligible for
rebates for solar and wind energy. Only agricultural customers who
plan on installing hydroelelectric power are eligible for the
HydroGenerations program. "RenewableGenerations will build on the
SolarGenerations Program and develop new elements for wind and
hydro, including a network of electrical contractors to help
recruit customers," said John Hargrove, program manager for energy
efficiency and conservation for Sierra Pacific and Nevada Power.
"These projects deliver benefits on many levels: they reduce energy
bills, provide learning opportunities, help the environment, and
increase our energy independence by taking advantage of abundant
natural energy sources right in our own backyard." Added Hargrove,
"We're fortunate in Nevada because of the strong support for
renewable energy shown by the State Legislature and the Public
Utilities Commission of Nevada. As a result of their efforts,
Nevada has one of the nation's most progressive programs to
encourage customer-installed renewable energy." For more
information about the continuing SolarGenerations Program, as well
as the new opportunities for wind power and hydroelectric power,
contact RenewableGenerations at 1-866-PV-NEVADA (786-3823), or
http://www.solargenerations.com/. (Although information about the
wind and hydroelectric programs is available over the phone,
website information about the wind and hydroelectric programs will
not be available until the end of the month.) The
RenewableGenerations team provides technical and program assistance
to customers and contractors. Rebate levels for the 2009-2010
program year are: -- For SolarGenerations: -- Residential -- up to
5,000 watts at $2.30 per watt -- Small Business -- up to 30,000
watts at $2.30 per watt -- Schools -- up to 50,000 watts at $4.60
per watt -- Public Buildings -- up to 30,000 watts at $4.60 per
watt -- For WindGenerations: -- $2.50 per watt up to 10 kilowatts
-- $1.50 per watt for systems larger than 10 kilowatts (certain
rules and restriction may apply) -- For HydroGenerations: -- $2.50
per watt (available for agricultural customers meeting certain
criteria) Headquartered in Nevada, Sierra Pacific Resources is a
holding company whose principal subsidiaries are Nevada Power
Company, the electric utility for most of southern Nevada, and
Sierra Pacific Power Company, the electric utility for most of
northern Nevada and the Lake Tahoe area of California. Sierra
Pacific Power Company also distributes natural gas in the
Reno-Sparks area of northern Nevada. This press release contains
forward-looking statements regarding the future performance of
Nevada Power Company and Sierra Pacific Power Company, within the
meaning of the Private Securities Litigation Reform Act of 1995.
These statements are subject to a variety of risks and
uncertainties that could cause actual results to differ materially
from current expectations. These risks and uncertainties include,
but are not limited to, economic conditions both nationally and
regionally, changes in the rate of industrial, commercial and
residential growth in its service territory, unfavorable rulings in
its pending and future regulatory filings, Nevada Power's and
Sierra Pacific Power's ability to maintain access to the capital
markets for general corporate purposes and to finance construction
projects, Nevada Power's and Sierra Pacific Power's ability to
purchase sufficient fuel, natural gas and power to meet its power
demands and, financial market conditions, changes in environmental
laws and regulations, and construction risks. Additional cautionary
statements regarding other risk factors that could have an effect
on the future performance of Sierra Pacific Resources, Nevada Power
Company and Sierra Pacific Power Company are contained in their
Quarterly Reports on Form 10-Q for the quarter ended June 30, 2008,
and their Annual Reports on Form 10-K and/or Form 10-K/A for the
year ended December 31, 2007, each filed with the SEC. The
companies undertake no obligation to release publicly the result of
any revisions to these forward-looking statements that may be made
to reflect events or circumstances after the date hereof or to
reflect the occurrence of unanticipated events. DATASOURCE: Sierra
Pacific Resources CONTACT: Karl Walquist of Sierra Pacific
Resources, +1-775-834-3891 Web site: http://www.sierrapacific.com/
http://www.solargenerations.com/
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