AES REACHES ANOTHER INSTALLATION MILESTONE AS SOLAR ENERGY ADOPTION SOARS IN BERMUDA

Posted by on Jun 16, 2011 in Local News & Alerts | 0 comments

Bermuda’s first commercial installation of a photovoltaic (PV) solar energy system for Lindo’s Market in Devonshire.

Local company Alternative Energy Systems (Bermuda) Ltd. (AES) today announces that it has installed a record 150 kilowatts of solar power systems for homes and businesses in Bermuda, just seven months after reaching the 50 kilowatts milestone in November 2010.  The company has seen a 38 per cent growth in Q1 2011 over the same period over last year, indicating that alternative energy is gaining popularity on the island.

Tim Madeiros, founder and CEO, Alternative Energy Systems, credits the steady growth in this tough economy, in part, to his company’s innovative approach in finding solar energy solutions tailored to each customer. He says: “I am thrilled that Bermudians are embracing solar technology. I believe AES’s continued success is driven by the expertise, customer service and quality products that we deliver.”

As a pioneer in the industry, AES has achieved many “firsts” in solar technology in Bermuda. Just last month, the company completed the first commercial installation of a photovoltaic (PV) solar energy system for Lindo’s Market in Devonshire. In addition, the company designed, engineered and installed Bermuda’s first building-integrated solar system for Mr. Stewart Minors and his wife, Minister of Business Development and Tourism, the Hon. Patrice K. Minors, JP, MP, in which the solar panels were adapted to Bermuda’s unique architecture and actually built into the roof structure.

Installation for Mr. Stewart Minors and his wife, Minister of Business Development and Tourism, the Hon. Patrice K. Minors, JP, MP

Mr. Madeiros, who is a Chartered Engineer with the U.K. Council of Engineering, also feels that Bermudians may be less intimidated by the upfront costs of implementing a solar energy system because of government incentives and the interconnection policy. BELCO’s Net Metering policy enables solar customers to sell excess electricity back to the utility at the same rate that they pay for power.

“Solar offers an extremely high rate of return on the initial investment; it just makes sense from a financial perspective. Each solar owner is protected for at least 30 years from the increasing cost of oil and subsequent rise in electricity rates,” said Mr. Madeiros.

Mr. Madeiros also believes that a high level of customer service has helped distinguish AES as the acknowledged leader in Bermuda’s solar industry. “We work closely with customers to design a system that works for them within their budget,” said Mr. Madeiros. “For instance, we are currently in the planning stages of a large-scale system for a new commercial client which we will be built out over time. The systems are modular and allow for easy expansion so we are able to start out small and increase capacity when the client is ready.”

In addition, Mr. Madeiros feels that residents understand the energy issues on the island in that, at current rates of consumption and growth, Bermuda’s only power plant won’t be able to generate enough energy without expanding, and that expansion would only further damage the environment with pollution and increased carbon dioxide (CO2) emission.

Per month, 150 kilowatts produces almost 21,000 kilowatt-hours of electricity on average that, at current prices, would cost over $8,000 a month. From an environmental perspective, the solar power generated could offset the emission of more than 260,000 pounds of dangerous pollutants including CO2, which is a major contributor to global warming.

To achieve the highest efficiency, AES installs the most powerful photovoltaic panels available on the market, which are manufactured by SunPower Corporation for which AES is an authorised dealer. SunPowers’ patented MAXEON technology provides 50 percent more energy than their closest competitors and is up to four times more powerful than thin film technology. SunPower panels hold the world record in power and efficiency and come with a 25-year warranty.

A company wholly owned and operated by Bermudians, AES has several more projects underway and is currently contracted to install an additional 71 kilowatts in residential and commercial applications by the end of 2011.

AES manages all aspects of a photovoltaic project in-house to ensure a cost-effective and seamless solution for its clients. AES offers a free site evaluation and financial analysis to residents and businesses. To book this service, please call 505-0804, email: tim.madeiros@aes.bm or visit AES online at www.aes.bm.

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