aleo solar AG to expand sales operation in North America and supply US with solar modules06.04.2009 | Press
aleo solar AG today announced that it will expand its presence in the United States to capitalize on the emerging boom for renewable energy in this market. In signing the "American Recovery and Reinvestment Act" in February, Barack Obama introduced a package of strategies that will also work as a catalyst for the solar energy market.
The Act, with a volume of USD 787 billion, is designed to stimulate public transport, energy production and other infrastructure projects in the United States. Several billion dollars have been allocated to green energy programs, with solar installations enjoying tax breaks and "commercial systems" receiving direct investment subsidies of up to 30 percent.
aleo solar AG is anticipating a boom in photovoltaic plants as a result of the improved conditions. "The planned subsidy system is truly direct: anyone installing a solar power facility will be handed a check shortly afterwards," said Jakobus Smit, aleo solar's CEO, forecasting that "even in 2009, the US market is likely to more than double in size to at least 700 megawatts. By 2010 at the latest, the US solar market will really get into gear." Additionally, the high levels of insolation in many regions of the US provide an enormous potential for photovoltaics.
The anticipated growth of the US solar market comes just at the right time for the German premium module manufacturer: "We will be present in the United States' key photovoltaic regions, supply high-yield modules and provide American installers with services ranging from system design and layout to marketing support, in order to enable optimum system performance", announced Smit. aleo solar AG has maintained a sales presence in North America since 2006. In the last months the solar module specialist has already supplied 325 kilowatts of solar modules for several contracts involving private consumer installations and industrial rooftop plants in the US state of California and in Mexico, including a 174 kilowatt solar power plant on the roof of a Walmart supermarket in Aguascalientes. Each of aleo solar's authorized specialist dealers is a member of the "aleo power network." Benefits of the network include the use of aleo solar's expertise in the systems business as inverters and mounting systems can be ordered in addition to modules.
aleo solar AG produces and distributes premium solar modules and systems for the international photovoltaic market. Since 2009, the Bosch Group has owned a majority of the company (DE000A0JM634), which was originally founded in 2001 and has been listed on the stock exchange since 2006. The premium manufacturer currently has approximately 900 employees and is represented in the key photovoltaic markets all over the world. The aleo solar group has an annual production capacity of 280 megawatts at its plant in Prenzlau, Germany. The company generated a turnover of € 279.9 million in 2012.
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