Applied Solar Launches Solar Communities™ Program in San Diego County

SAN DIEGO--(BUSINESS WIRE)--Applied Solar, Inc. (OTCBB: APSO), a leading developer of solar energy solutions, today announced the launch of its Solar Communities™ program in San Diego County. The program, which is being kicked off with a series of open house events, aims to expedite the number of homes utilizing clean solar energy by overcoming two of the most common obstacles to solar adoption: cost and aesthetics.

While Americans are increasingly interested in utilizing renewable energy applications in their homes, many are hesitant to make an investment in rooftop solar panels due to the high upfront costs, which can run tens of thousands of dollars. In addition, while state rebates and federal tax incentives have the potential to significantly defray the cost of solar power, many homeowners are unable to take full advantage of these incentives. Applied Solar intends to change this.

“While it is true that now, more than ever, Americans are concerned about the environmental impact of their actions, they are also keenly focused on controlling their monthly household expenses,” said David Field, president and CEO of Applied Solar. “Any proposition to switch to solar power must also entail a way to save on household costs in the near term. If we are able to bring the payback period for solar down to three or four years versus the traditional 10 years, it makes a lot more financial sense for consumers.”

Through Applied Solar’s Solar Communities™ program, a new financing tool is available for San Diego County homeowners patterned after the highly successful model utilized in the commercial sector for the last several years – power purchase agreements (PPAs). PPAs first hit the San Diego residential market in 2008, but were only available for the conventional rack-mounted solar panels that many homeowners – and homeowner associations – often rejected as unsightly.

With the Solar Communities™ program, PPAs are now available for the first time on more aesthetically pleasing, premium “building integrated” solar tiles. These innovative systems blend into the color and texture of the roof surface for a clean, seamless look not previously associated with solar panels. The solar tiles, available in brown, slate gray and terracotta to match various roof styles, were developed by Applied Solar and are manufactured by Suntech Power Holdings Co., Ltd. (NYSE: STP), the world’s largest solar module producer, to ensure the highest quality and reliability. Many of the nation’s top builders – including Toll Brothers, Pulte, Centex and William Lyons – utilize SolarBlend™ Solar Tiles on account of their efficiency, reliability and visual appeal.