Science & Technology
Science and Technology
Science and Technology
Thu, January 22, 2009 Yes! Solar, Inc. Sells Two Northern California Territories
ROSEVILLE, Calif.--([ BUSINESS WIRE ])--Yes! Solar, Inc., a wholly owned subsidiary of [ Solar Power, Inc. ] ([ OTCBB:SOPW ]), announced today that it has executed franchise agreements for two additional California territories, extending coverage for the San Francisco bay area, and is adding coverage on California's central coast region. The newest [ Yes! Solar Solutions ][ TM ] operation will serve California's central coast through a territory that extends from Santa Cruz to San Miguel, California. Combined with existing contiguous territories, the newest California territories in the Yes! Solar Solutions franchise network extends reach to support more than one million owner occupied homes and many businesses that can benefit from Yes! Solar Solutions' photovoltaic solar energy systems.
The new central coast franchise operation has been purchased by All In One Contractors Inc. based in Morgan Hill, CA. The franchise territory harbors approximately 156,000 owner occupied dwellings and numerous businesses throughout its 5,375 square miles. Borders of the new market area extend from Boulder Creek, near Santa Cruz, at the north, Carmel to the west, San Benito to the east and reach almost to San Miguel at the territory's southernmost point.
"We are very impressed with the Yes! Solar Solutions product line of home energy systems. We are also very excited about this agreement," said Mehyeddine Alayleh, Vice President of Marketing for All In One Contractors Inc. "As the number of people turning to renewable energy grows, we look forward to providing them with the solar solutions they need. Combined with California's Solar Initiative rebate program and the recent addition of the 30% Federal Investment Tax Credit for homeowners purchasing a solar energy system, the opportunity for us to leverage our team's collective experience couldn't be better," Alayleh said.
Trade Dimensions, Inc. ("TDI") located in Pleasanton, CA, who recently purchased the Yes! Solar Solutions east bay area territory, have also purchased the south bay area territory, extending their overall area to include the greater San Jose region. The additional territory adds 324,000 owner occupied homes and thousands of prospective business customers to their market. The additional territory will host another Yes! Solar Solutions retail location. The east bay and south bay territories will be served by a single distribution hub also operated by TDI and located in Hayward, CA.
"Extending our market area into the south bay area is an excellent addition to our business," said James Gitas, Vice President of Marketing. "As long-time residents of the bay area it is a real pleasure to be able to provide these communities with products and services that deliver a true win-win solution. Not only can we serve the environment, we are also providing home and business owners with energy independence and a means to reduce or eliminate their electricity costs."
"These two recent additions extend our reach and bring a very experienced group of business professionals to California's central coast and to our growing franchise network. With two additional San Francisco bay area territories remaining, and rising electricity rates, the bay area has become one of our fastest growing regions," said Jeff Pontius, Executive Vice President for Yes! Solar, Inc. "In the current economic climate, the renewable energy industry, and solar energy specifically, offer a great deal of promise for the foreseeable future. We look forward to serving the home and business owners of the greater San Francisco bay with our solar energy solutions and a growing number of solar product innovations. More importantly, we look forward to making a difference in the communities our franchise owners serve." Yes! Solar, Inc. is actively seeking franchisees for the two remaining territories within the greater San Francisco bay area.
About Yes! Solar, Inc.
Yes! Solar, Inc., DBA Yes! Solar Solutions, is a wholly owned subsidiary of Solar Power, Inc. (OTCBB:SOPW). Founded in 2005, Solar Power, Inc. designs and manufactures its own products, including solar modules and racking and mounting systems. The company also designs and builds both large-scale commercial systems and residential solar systems for the U.S. market. Yes! Solar Solutions offers the U.S. residential and medium to small-sized business market segments turnkey solutions through a single brand. The Yes! Web site can be visited at [ www.yessolarsolutions.com ]. Solar Power, Inc. can be visited at its web site at [ www.solarpowerinc.net ].
Safe Harbor Statement:
This release contains certain "forward-looking statements" relating to the business of Solar Power, Inc., its subsidiaries and the solar industry, which can be identified by the use of forward looking terminology such as "believes, expects" or similar expressions. The forward looking statements contained in this press release include statements regarding the Company's ability to execute its growth plan and meet revenue and sales estimates, enter into formal long-term supply agreements, and market acceptance of products and services. These statements involve known and unknown risks and uncertainties, including, but are not limited to, general business conditions, managing growth, and political and other business risk. All forward-looking statements are expressly qualified in their entirety by this Cautionary Statement and the risks and other factors detailed in the Company's reports filed with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities law.
