BEND, Ore. - August brought with it more than solar power to Bend, Ore.-based PV Powered with the awarding of a 2007 Central Oregon Business Development Opportunity Fund grant. The awarding of the grant comes just one month after PV Powered entered the commercial market with the release of its new PVP30kW inverter.
The lottery-funded Opportunity Fund grant was awarded to PV Powered for purchase of equipment for material handling, automated assembly and packaging, testing and diagnostic equipment by Economic Development for Central Oregon (EDCO). The grant will allow PV Powered to expand operations and grow to keep up with the overwhelming demand for its photovoltaic systems.
“The solar energy marketplace is global and expanding rapidly,” said Greg Patterson, CEO of PV Powered. “The grant from the Opportunity Fund enables our Central Oregon company to expand so that we can compete effectively in the U.S. and abroad.”
PV Powered also recently introduced its first commercial inverter to the market, the PVP30kW. The architecture of this new commercial model is based on the same technology that is embedded in all of the inverters manufactured by PV Powered since 2004, which has allowed it to contain only one-third the number of components of comparable inverters. The new inverter has also reached a market-leading efficiency rating of 94 percent CEC.
“We’re excited about PV Powered’s future and prospects for the growing renewable energy sector here in Central Oregon,” said Roger Lee, executive director of EDCO. “The fact that PV started off with a handful of employees three years ago and has grown to its current size and position as a global competitor is a testament to Central Oregon’s spirit of ingenuity and entrepreneurship.”
Solar power in Oregon is quickly becoming much more of a demanded commodity for other markets in addition to commercial consumers. Residents have incentive to consider solar power as an alternative due to a variety of factors including the state’s multiple residential energy tax credits for solar power. Under the category of residential photovoltaic systems, Oregon’s “Net Metering Law” requires local utilities to accept energy onto its wires for residential customers. The homeowner is then only billed for the monthly net energy consumption of electricity. The tax credit is based on three dollars per watt up to $6,000 with a minimum running system of 200 watts.
Within the past year, Oregon has emerged as a pioneer in the renewable energy market by attracting solar technology manufacturing companies such as SolarWorld and Solaicx. With PV Powered growing at an impressive pace and competing in broader markets, the future continues to look bright for Oregon’s solar industry.
About PV Powered
Founded in 2003, and based in Bend, Ore, PV Powered is a leading manufacturer of solar power inverter technology. Designed for the highest in reliability and manufactured in the United States, PV Powered products are UL Listed, and have the highest efficiency ratings in the solar market today. With thousands of its products in use nationwide, PV Powered combines one of the most experienced design teams in solar power electronics with a commitment to superior service and support.
About Bend, Ore.
Bend is the sixth-fastest-growing metropolitan area in the United States, according to US Census estimates released in September 2005. Residents who live and work in Bend enjoy a growing economy powered by small businesses and energetic entrepreneurs, with growth industries and tourism as two primary driving sectors. Bend is also home to a diverse mix of well-established manufacturers in addition to a rapidly expanding high-technology sector.
Contact: Krista Hildebrand
Phone 503-467-4686,
khildebrand@frause.com
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