Sunworks to Bring Solar to Nevada Residents Following Encouraging Public Utility Commission Net Metering Decision
- September 21, 2016
RENO, NV–(Marketwired – September 21, 2016) – Sunworks, Inc. (NASDAQ: SUNW), a leading provider of solar power solutions, announced that the Nevada Public Utilities Commission (NPUC) made the decision on Friday to allow homeowners with active Net Metering applications dated before January 1, 2016 the ability to revert back to full credit Net Metering rate structure. The decision to “grandfather” homeowners with active NEM applications creates the opportunity for Sunworks to assist nearly 15,000 eligible Nevada residents to acquire a premium solar system.
In 2015, the NPUC decided to change the Net Metering Rates, imposing higher service fees, and dramatically reducing the value of energy exported by rooftop solar systems. Sunworks, unlike other solar integrators, made the decision to remain in the Nevada market, delivering solar to commercial customers, as well as making its services available to all Northern Nevada residents.
Sunworks sees this decision as the first critical step in rebuilding the residential solar market in Nevada. Sunworks’ will be available to assist all eligible Nevada residents whose projects were placed on hold, including those residents who have found their contractor to have abandoned the Nevada market.
“It was devastating to see many of clients’ investments from the past 10 years decimated,” said Travis Miller, Project Manager for Sunworks NV and founding board member of the Great Basin Solar Coalition. “This decision is the first step in correcting the prior ruling, and Sunworks is well-positioned to rapidly respond, assisting the thousands of Nevada residents who have been waiting to secure the benefits of solar energy.”
Jim Nelson, Sunworks CEO, concludes “We are eager to assist Nevada residents moving forward with their solar projects. Today, thousands of customers have a restored opportunity to benefit from this decision. Sunworks will continue providing the hard working and independent people of Reno the opportunity to experience benefits of owning their power.”
Sunworks would like to invite any Nevada residents who have or had eligible reservations to contact them for assistance and pricing on a solar electric system. Sunworks can be reached at 866.600.6800, or at www.sunworksusa.com.
About Sunworks, Inc.
Sunworks, a leading provider of solar power solutions, is focused on the design, installation and management of solar power systems for commercial, agricultural and residential customers. Sunworks is one of the fastest growing solar systems providers in the western United States, delivering 2.5 kilowatt to multi-megawatt commercial systems. The Company’s mission is to further the widespread adoption of solar power by deploying affordable, state-of-the-art systems and developing breakthrough new solar technologies. The Company’s focus is on putting the customer first, providing the best value systems in the industry, and delivering on what is promised.
To learn more about Sunworks, visit our website at http://sunworksusa.com/.
Safe Harbor Statement
Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words “anticipate,” “believe,” “estimate,” “may,” “intend,” “expect” and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These risks include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, products, and prospects for sales, failure to commercialize our technology, failure of technology to perform as expected, failure to earn profit or revenue, higher costs than expected, persistent operating losses, ownership dilution, inability to repay debt, failure of acquired businesses to perform as expected, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company.
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