BALTIMORE, Aug. 19, 2010 (GLOBE NEWSWIRE) -- Kalahari Greentech, Inc. (Pink Sheets:KHGT) released a statement today explaining the return on investment benefits of its Solar Tri-Brid System.
According to the U.S. Department of Energy, the 2008 average household energy usage was 1.26 kilowatts continuous, or 920 kilowatt-hours per month, yielding an average bill of $103 (Source: http://www.eia.doe.gov). A standalone Solar Tri-Brid will meet the majority of the energy needs of the average U.S. household.
The average cost for a traditional photovoltaic solar installation is $10,000 per kilowatt of capacity. Kalahari's Tri-Brid system is approximately half the price, for the same amount of power. The ROI (return on investment) is twice that of the same dollars spent on photovoltaic.
With an estimated retail price of $6,000, current incentives (Source: http://www.energy.gov/taxbreaks.htm) will reduce the unit cost to the consumer to $4,000. Many states have even more incentives, thereby increasing customer savings. If used only for electric power generation, the Solar Tri-Brid will pay for itself in a little over 3 years.
The trend toward renewable sources of energy is growing. "Renewables accounted for 60 percent of newly installed capacity in Europe and more than 50 percent in the USA in 2009" (Source: http://www.globe-net.com).
About Kalahari Greentech, Inc.: Kalahari Greentech Inc. is an energy company focused on developing, constructing and operating wind and solar energy projects, either on its own or in partnership with other energy companies. The company's main focus is to seek out opportunities to utilize its technology to develop renewable energy sources. More information can be found on the company's website, www.kalaharigt.com.
Forward Looking Statements: This press release contains certain forward-looking statements. Investors are cautioned that certain statements in this release are "forward looking statements" and involve both known and unknown risks, uncertainties and other factors. Such uncertainties include, among others, certain risks associated with the operation of the company described above. The Company's actual results could differ materially from expected results.