US Rep. Adam Schiff Announces Support for Clean Energy Legislation at Soliant Energy

 

PASADENA, Calif., May 9, 2007 /PRNewswire-USNewswire

 

Soliant Energy (formerly Practical Instruments), a provider of solar panels optimized for commercial rooftops, Sunday hosted an informational session for US Congressman Adam Schiff. During the visit Rep. Schiff, a member of the House Appropriations and Judiciary Committees, announced his support for federal legislation (H.R.550) that will extend national incentives for solar power until the year 2017.

"I was extremely impressed with the technology being produced by Soliant Energy," said Congressman Schiff. "Energy is the cross-cutting issue of all time: it's a national security issue, its an environmental issue, it's a health issue, it's an economic issue -- and I think firms like Soliant are a big part of the answer."

Congressman Schiff congratulated Soliant executives on their recent success in winning the US Department of Energy's Solar America Initiative (SAI) award. During the presentation of the award in March, Dr. Raymond Orbach, DOE's Under Secretary for Science, announced that the DOE's SAI grant and its recipients "will help lower the cost of electricity from photovoltaics to a price that is cost-competitive in markets nationwide." He went on to explain how funding will enable the widespread deployment of Soliant's technology.

Former NASA JPL Chief Architect, now Soliant founder and CTO, Brad Hines said, "The SAI award was recognition that we are a leader in the US of the new 3rd generation of solar technology. This validates our technology plan to have a grid equivalent cost of $.06 per kilowatt hour for the consumer, without incentives, in three years. In industry terms this means well under $1.50 per watt."

"Congress has an important role to play by creating incentives for this technology," noted Congressman Schiff. "As the technologies improve, the price point gets better and better."

About Soliant Energy (formerly Practical Instruments)

Soliant Energy is a leader in the 3rd generation of solar technology, a combination of new innovations and applications which will enable solar power to reach grid parity without incentives. Soliant is rapidly developing its tracking and concentrating photovoltaic (CPV) Heliotube product platform to achieve grid-cost electricity by 2010. Heliotube uniquely integrates a complete, self-powered, tracking solar concentrator system into the form factor of conventional flat solar panels. The company will ship its first product for commercial rooftop applications later this year. Soliant Energy is funded by leading Silicon Valley energy and renewable technology investors including Trinity Ventures, Nth Power, Rockport Capital, and Rincon Venture Partners. Soliant is also supported by Silicon Valley Bank, the U.S. Department of Energy, and technology partners such as Boeing Spectrolab, MIT, Sandia National Labs and SunEdison. Founded in 2005 by a core team of experienced NASA JPL engineers, Soliant Energy is located in Pasadena, CA and on the web at WWW.SOLIANT-ENERGY.COM.

SOURCE Soliant Energy

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