Promise Energy launches new solar water heating program

| by Teena Hammond
Promise Energy launches new solar water heating program

Promise Energy, which provides solar energy service agreements to maximize state and federal tax credits otherwise unavailable to nonprofit housing organizations, announced today it will be launching a new program at the annual Southern California Association of Non-Profit Housing (SCANPH) conference in Los Angeles on September 28.

Promise Energy's new program allows nonprofit housing organizations to lock-in the current gas rates for up to 20 years, reducing their dependence on rising utility costs, and generating significant savings on a major operating expense — all with little or no upfront investment. The move signals another step forward for a company quickly emerging as a dominant player in the solar water heating market throughout California and the Western United States.

"We're proud to partner with affordable housing organizations to save energy, reduce operating costs and increase property values with solar water heating," said Jonas Villalba, vice president of sales for Promise Energy. "It's a great example of what's different about Promise: we're not just selling solar equipment, we're selling energy."

The agreements makes it easier for multifamily housing projects and other commercial customers to improve building performance and sustainability by taking advantage of solar hot water for little or no investment, while still saving thousands of dollars a year on gas utility bills.

"We find many affordable housing customers who want to take advantage of solar water heating, but can't afford the upfront cost, and don't qualify for the 30 percent federal tax credit," Villalba said. "With a Promise Energy Service Agreement, we handle the whole system from start to finish: design, installation, operation, maintenance, insurance, warranties, permits, regulatory compliance, federal tax credits, state incentives."

Read more about hot water heaters and solar power.

Topics: Photovoltaic / Solar Panels, Rebates / Tax Credits, Solar Power, Water Heaters

Teena Hammond
Teena Hammond has published more than 2,000 articles in People and W magazines, Women's Wear Daily, and in dozens of newspapers and books. She also wrote a home improvement, remodeling and decor column that ran in Gannett newspapers nationwide. She's interested in all things green and would love to hear from you with your story ideas.

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