SATELLITE BEACH, Fla., May 15, 2008 (PRIME NEWSWIRE) -- ArcStar Energy, a renewable energy provider, announced today that it has selected Brevard County to launch its solar services enabled by innovative Power Purchase Agreements (PPA). A PPA is a solar energy purchasing contract that involves no upfront cost or payment and secures energy costs at today's rates for years to come.
With its PPA services, ArcStar offers its commercial customers a simple and asset-free model to purchase solar while providing a hedge against rising energy costs. Under the terms of a PPA, ArcStar designs and installs solar energy equipment at no cost to customers, maintaining and operating it over the term of the PPA for the customer. Under the PPA, the customer agrees to pay ArcStar over the term of the PPA a fixed rate for the energy provided.
"Upfront capital cost has consistently been cited as the reason many businesses cannot choose to 'go green'," said Monty Bannerman, CEO, ArcStar Energy. "However, a PPA solves the capital problem that most businesses face because it allows companies to employ solar power at no cost, with no maintenance responsibilities, and with no change in operation or behavior. PPAs have the ability to revolutionize renewable energy adoption in Florida, making it viable and completely affordable for businesses of any size."
The company selected to launch PPAs in Brevard, given the demonstrated interest in renewable energy among the county leaders and their constituents, and will expand to other areas of The Sunshine State.
PPAs have been widely adopted in California but are just emerging on the East Coast. Many of the world's most innovative companies and major retailers have recently opted to sign PPAs to offset power costs and commit to providing their operations with clean energy.
"Some of the most celebrated and admired companies in the country recognize that solar energy is viable and that PPAs are the best way to implement renewable energy. Businesses with PPAs have secured their energy rates and have seamlessly made the responsible migration to clean energy," Bannerman added.
About ArcStar Energy
ArcStar Energy, with branches in New York, Miami and Satellite Beach, is a renewable energy provider that allows businesses to migrate to green energy usage with ease and no change in behavior. Working with local utilities and community groups, ArcStar can offer a pioneering solution that makes solar affordable for use on commercial and municipal buildings. The company generates solar power directly and fixes electricity prices at today's current rates. For more information, go to www.arcstarenergy.com.
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