Proof of Concept Home Built at Comparable Price of Traditional Construction Generates Savings to Dramatically Reduce Home Ownership Costs
Cost Savings Over 30-Year Period Potentially Exceed Purchase Price of Home Itself
BOISE, Idaho, March 18, 2010 (GLOBE NEWSWIRE) -- http:/www.alternateenergyholdings.com/)">Alternate Energy Holdings, Inc. (OTCBB:AEHI) today announced that it has completed the construction of its first Energy Neutral™ home. This home is a radical departure from traditional building techniques from an energy consumption point of view because the home was not only designed and built specifically to meet neutrality in energy consumption, but in fact exceeds that standard by producing more energy than it consumes on a daily, weekly, monthly and yearly basis. Because it cools and heats much like a traditional home, but produces net energy that is automatically placed back on the public utility grid, this home generates net cash flow from the public utility (no energy bill except for a small utility connection cost, and money back) on a monthly basis that can be used to offset total ownership costs. Relative to current green construction standards, the magnitude of savings from this home for the typical homeowner far exceed current alternatives for moderately-sized homes, and the Energy Neutral home breaks substantial new ground in objective energy efficiency standards that are available for nonbiased expert review.
The Energy Neutral home is located in Boise, Idaho at 12,963 W. Scotfield Court.
Utilizing available technologies including solar panels, computer monitoring, power-saving technologies, LED and fluorescent lighting, a high-efficiency heat pump and energy-saving construction techniques and materials including high efficiency insulation, and other innovations, this 5 BR/3 BA 2,900 s.f. home sets a new standard in green energy living. At current energy prices, it is estimated that the home will generate $300,000 in energy bill savings over 50 years. In an environment of rising energy costs, using conservative estimates, the savings will rise further and could easily exceed the purchase price of the home and all financing costs for a typical 30-year mortgage.
"The radical idea of an affordable house that is energy neutral or better is difficult for most people to conceptualize or believe based on what we think we know about energy efficiency, notwithstanding the fact that wind farms and solar farms are well-known sources of green energy," said Don Gillispie, CEO of Alternate Energy Holdings. "We have met a number of highly intelligent skeptics that say energy neutrality in an affordably priced home simply cannot be done with today's technology and know-how. So although we knew it could be done, we also knew no one would believe us unless we did it ourselves. We are proving true the idea that rather than being an asset that saps cash flow for utility bills, a home can instead be an energy net generator that actually throws off positive cash flow. Now, the Energy Neutral home is here, and at 2,900 square feet with an office, 3 car garage, 5 bedrooms and 3 baths, it is large enough to accommodate a typical American family with room for the occasional overnight guest. Moreover, the financial savings are so compelling when one considers the build-out cost is comparable to that of traditional housing, so we believe this is the future of home and office building nationwide and can serve as the blueprint for a national energy policy that makes rational sense."
CEO Gillispie also notes that Alternate Energy Holdings, through its subsidiary, Energy Neutral, plans to move forward with an attractive franchising program for entrepreneurs and builders that wish to tap into the Energy Neutral solution tailored to local and regional differences in climate and optimized energy efficiency building techniques and equipment. The Company plans to begin rolling out selective franchises beginning later in 2010 with attractive pricing and ongoing technology expertise that it hopes will drive a profitable new sustainable business model in green energy.
About Alternate Energy Holdings, Inc. (http://www.alternateenergyholdings.com/)
Alternate Energy Holdings develops and markets innovative clean energy sources. The company is the nation's only independent nuclear power plant developer seeking to build new power plants in multiple non-nuclear states. Other projects include Energy Neutral, which removes energy demands from homes and businesses (http://www.energyneutralinc.com/), Colorado Energy Park (nuclear and solar generation), and International Reactors, which assists developing countries with nuclear reactors for power generation, production of potable water and other suitable applications. AEHI China, headquartered in Beijing, develops joint ventures to produce nuclear plant components and consults on nuclear power. AEHI Korea, Seoul, is assisting KEPCO (Korea Electric Power Corporation) to export their APR 1400 reactor into the US and achieve NRC design certification.
"Safe Harbor" Statement: This press release may contain certain forward-looking statements within the meaning of Sections 27A & 21E of the amended Securities and Exchange Acts of 1933-34, which are intended to be covered by the safe harbors created thereby. Although AEHI believes that the assumptions underlying the forward-looking statements contained herein are reasonable, there can be no assurance that these statements included in this press release will prove accurate. As a result, investors should not place undue reliance on these forward-looking statements.