DETROIT UTILITY FUNDS SUN

New Detroit Edison Program Will Enable Customers to Cut the Cost of Installing Solar Energy
September 1, 2009 (PRNewswire)

"Detroit Edison has introduced a new program that will make installing a solar energy system 50 percent more affordable for homes and businesses.

"Called SolarCurrents, the pilot program is intended to encourage Detroit
Edison customers to purchase and install a solar energy system, and at the
same time help the utility meet renewable energy targets contained in
comprehensive energy legislation approved last year…"

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"Solar energy systems…use of photovoltaic (PV) technology…[to turn] the sun's light energy into…direct current electricity…by the solar panels [and] is converted [by an inverter] to alternating current - the type of electricity accessed through standard electric outlets.

"A solar energy system for a typical 2,000 square foot home or business can cost about $18,000 to install. Under SolarCurrents, customers will receive a one-time payment when their system is installed. They then will receive monthly credits on their electric bill for the next 20 years for providing Detroit Edison with renewable energy credits associated with the system…[reducing the overall system cost 50%]…"

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"Solar Currents was developed following passage of the Clean, Renewable and Efficient Energy Act of 2008 - legislation that requires Michigan's electric utilities to provide 10 percent of their electricity sales from renewable resources by 2015. Detroit Edison expects upwards of 1,500 customers to take part in the SolarCurrents program.

"Detroit Edison also plans to introduce a second-phase of the SolarCurrents programs in which the company will place large-scale solar energy panels it owns on customer rooftops or property. In return, Detroit Edison will pay long term leasing or rental fees to the property owners. Further details on the next phase of the SolarCurrents program are expected in the coming months…"