ROCHESTER, N.Y., July 13, 2011 /PRNewswire/ -- Arista Power, Inc. ("Arista Power" or the "Company") (OTCBB: ASPW), a developer and manufacturer of wind turbines, renewable energy power storage and management systems, and a supplier of solar energy systems, announced today that it has been approved as an Eligible Installer under the Solar Electric Incentive Program by the New York State Energy Research and Development Authority (NYSERDA). The Program provides cash incentives for the installation of new Solar Electric or Photovoltaic (PV) systems by Eligible Installers.
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The cash incentives are available for qualified systems and customers through applications submitted to the Program by an "eligible installer". Eligible Installers are those who have demonstrated technical competence in the PV field and who have signed written agreements with NYSERDA to abide by certain Program terms and conditions.
"This NYSERDA certification increases our product portfolio capabilities," said William A. Schmitz, Chief Executive Officer of Arista Power, Inc. "Solar PV is an integral element of our Power on Demand peak shaving system and numerous other states recognize NYSERDA certification. This is another key building block in getting Power on Demand into the mainstream marketplace."
Arista Power's innovative Power on Demand system is designed to reduce demand charges that can significantly increase utility bills for large users of electricity. The innovative, patent-pending system is designed to utilize energy generated by wind turbines and/or solar arrays and also energy stored from the grid itself to reduce peak electricity demand at the consumer level.
Arista Power is completing the certification process for its WindTamer turbine.
About Arista Power, Inc.
Arista Power, Inc. is a developer and manufacturer of wind turbines and custom-designed renewable energy storage and power management systems and a supplier of solar energy systems. Arista Power's diffuser-augmented WindTamer wind turbine utilizes a patented technology for the production of electrical power. Arista Power's patent-pending Power on Demand system utilizes inputs from multiple energy sources including wind, solar, fuel cells and the grid in conjunction with a custom-designed battery storage system and a proprietary smart monitoring technology that releases energy at optimal times to reduce peak power demand, thereby lowering electricity costs for large energy users who deal with peak usage pricing. Arista Power also sells a mobile renewable energy system that that generates wind and solar energy to an onboard storage unit for military and other applications, and a renewable power station that is a scalable system that can be drop-shipped to off-grid locations to be used as a "micro-grid."
For more information on Arista Power, go to www.aristapower.com.
Forward-Looking Statements
This press release may contain forward-looking statements based on current expectations that involve a number of risks and uncertainties. Arista Power, Inc. cautions investors not to place undue reliance on forward-looking statements, which reflect Arista Power's analysis only as of today's date. There can be no assurance that such forward-looking statements will prove to be correct, and actual results could differ materially. Arista Power undertakes no obligation to publicly update forward-looking statements. Further information on these factors, and other factors that could affect Arista Power's financial results, is included in Arista Power's Securities and Exchange Commission filings, including the latest Annual Report on Form 10-K.
SOURCE Arista Power, Inc.
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