SunVault Energy, Inc., a prominent supplier of cost effective generation and energy storage to the solar industry, announced today that it has submitted an application to ATCO Electric to interconnect its proposed generation unit to ATCO Electric's distribution systems. SunVault anticipates the construction of a 500 kW solar electric generation unit with potential growth to 1 MW within a 12-month period. Daystar Technologies, Inc. has been chosen to build the unit, but SunVault will serve as the sole operator and owner of the unit.
Based on current market figures, the Company expects the unit to generate $115.00 of revenue per hour for the hours that the unit is actively supplying electrical energy to the power distribution grid, resulting in approximately $167,000 per year. The potential expansion to 1 MW would double expected revenues to approximately $230 per hour during the hours of energy supply to the grid based on average current market prices. If the unit capacity is boosted to 1 MW, the unit will have fully active energy storage.
"We continue to be optimistic that we will be able to generate stable revenue from this type of unit in the Alberta, Canada market and by participating in the Alberta energy system through interconnection to the grid for the sale of power. We plan to use this unit as way to test and develop our PolyCell™ and All-in-One™ technology platforms. This unit will also provide us with real-world access, data and a key-learning opportunity at the system/architectural level," commented SunVault President and CEO John Crawford.
SunVault will continue its pursuit of additional opportunities as it fits into the Company mandate and growth plans. Producing on-going revenues while enabling the ability to develop and utilize the Company's PolyCell™ energy storage, All-in-One™ and Vertical Solar Appliance technology platforms within a real world operating environment is anticipated to accelerate development and enhance existing and future renewable project installations.
For further information, please visit sunvaultenergy.com
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