RGS Energy Wins more than 80 Solar Contracts from Solarize Rhode Island Program
LOUISVILLE, CO, December 18, 2014 – RGS Energy (NASDAQ:RGSE), one of the nation’s largest and most recognized rooftop installers of solar equipment, has won more than 80 contracts to deploy rooftop solar power systems on residential homes and small businesses in North Smithfield, Rhode Island.
The projects represent more than 600kW of solar power. The company expects to complete the installations by July 2015.
The contracts were generated from Solarize Rhode Island, a unique discount buying program, which launched in October and concluded earlier this week. The program was designed to encourage the adoption of residential and commercial solar systems through a coordinated education, marketing and outreach effort, combined with a tiered pricing structure that provides increased savings to homeowners and businesses as more people go solar.
Dennis Lacey, CEO of RGS Energy, commented: “We’ve had a number of successful Solarize programs across the Northeast and completion of this latest program further expands our presence in the region. Given the increasing popularity of Solarize programs across the Northeast, we plan to continue to bid for more Solarize programs.”
North Smithfield was the first in the state to pilot a solar program with Little Compton and Tiverton expected to follow next spring. Ninety-one municipalities in neighboring Massachusetts and Connecticut previously signed on for similar “Solarize” programs, resulting in installation in up to 10 percent of homes.
Since 2011, RGS Energy has participated in 15 Solarize initiatives throughout the Northeast. These Solarize programs have resulted in more than 600 customers and four megawatts of contracted solar.
To learn more about the Solarize North Smithfield initiative, visit www.solarizeri.com.
About RGS Energy
RGS Energy (NASDAQ: RGSE) is one of the nation’s largest and most recognized rooftop installers of solar equipment, serving residential and small business customers in the mainland U.S. and Hawaii. Beginning with one of the very first photovoltaic panels sold in 1978, the company has installed tens of thousands solar power systems. RGS Energy makes it very convenient for customers to save on their energy bill by providing a comprehensive solar solution, from design, financing, permitting and installation to ongoing monitoring, maintenance and support.
The company has 14 offices across the West and the Northeast and one in Hawaii. For more information, visit RGSEnergy.com, on Facebook at www.facebook.com/rgsenergy and on Twitter at www.twitter.com/rgsenergy. RGS Energy is a trade name and RGS Energy makes filings with the Securities and Exchange Commission under its official name “Real Goods Solar, Inc.” These documents are available on both the EDGAR section of the SEC’s website at www.sec.gov and the Investor Relations section of the Company’s website at www.rgsenergy.com. For more information about the company, visit www.rgsenergy.com.
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This press release contains forward-looking statements that involve risks and uncertainties. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they provide our current beliefs, expectations, assumptions and forecasts about future events, and include statements regarding our future results of operations and financial position, business strategy, budgets, projected costs, plans and objectives of management for future operations. The words “anticipate,” “believe,” “plan,” “estimate,” “expect,” “future,” “intend,” “may” and similar expressions as they relate to us are intended to identify such forward-looking statements. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, without limitation, the following: our ability to generate synergies between RGS Energy and the retail and catalog business described in this press release, the ability of the retail and catalog business described in this press release generating solar referrals to RGS Energy, our ability to convert backlog into revenues, our ability to become profitable, and such other factors as discussed throughout Part I, Item 1A, Risk Factors and Part II, Item 7, Management’s Discussion and Analysis of Financial Conditions and Results of Operations of our Annual Report on Form 10-K for the year ended December 31, 2013 and Part I, Item 2, Management’s Discussion and Analysis of Financial Condition and Results of Operations included in our Quarterly Reports on Form 10-Q.
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