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BY Tali Aaron : February 22

Lake Erie Electric Launches Renewable Energy Solutions in Ohio & Michigan

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Lake Erie Electric is leading the charge in Ohio to provide clean, renewable energy to businesses, industry, municipalities, government and homeowners throughout Ohio and Michigan. With the launch of Renewable Energy Solutions, LEE is offering turnkey solar and wind power systems to provide customers an alternative to conventional electricity, saving natural resources and money.

"Renewable energy is no longer something we talk about for the future," Renewable Energy Solutions Manager Tom Whitby said. "More and more of our customers are choosing to generate electricity for their homes and businesses by using clean and cost efficient energy sources like solar and wind as opposed to conventional methods which deplete our natural resources and pollute the environment."

Federal, state and local governments across the country have adopted renewable portfolio standards, enacted mandates for renewable energy use and are offering consumers incentives to use more clean energy sources. Ohio lawmakers have aggressive standards for renewable energy that require 12.5 percent of Ohio's electricity to come from renewable sources and a 22 percent cumulative reduction in energy usage by 2025. Michigan lawmakers have mandated that by 2015, 10 percent of electrical retail sales be from renewable energy sources. More than half of the states in the U.S. have adopted similar standards and are making incentives available for compliance.

"A commitment to renewable energy today is an investment in our future," said Carl W. Scheutzow, Mariner Energy Systems, LLC., a solar power consulting, design and installation agency working in partnership with LEE. "With the number of federal and state incentives available to individuals and businesses, now is the time to make that investment. Customers could realize a $0 electric bill and keep thousands of pounds of dangerous greenhouse gasses from entering the environment."

In addition to the environmental benefits, there are several grants and tax benefits available to help individuals and businesses make the investment more cost effective. Through 2016, the federal government is offering a 30 percent tax credit for the cost of a solar or wind power system. In addition, the Ohio Energy Office has a grant available for solar installations that pays $3.00 per Watt up to $25,000 for residential systems and $3.50 per Watt up to $150,000 for commercial installations. Ohio grants available for residential wind power installations include the lesser of $2.00 per annual kwh generated (first year production) or 50 percent of the project cost, up to $25,000. For commercial installations the grant is the lesser of $2.00 per annual kwh generated (first year production) or 40 percent of the project cost, up to $200,000.

Lake Eric Electric's Renewable Energy Solutions took advantage of the incentives and completed their first commercial installation at their headquarters in Westlake. The 3 kW solar array was commissioned in April 2009 and is the first solar installation in the City of Westlake. To date, the project has made a measurable impact, saving the environment from more than 4,000 lbs of carbon dioxide, 17 lbs of nitrous oxide and 45 lbs of sulfur dioxide. These are greenhouse gases that would have been released into the atmosphere by conventional electricity generating the same amount of power.

"Using renewable energy is a great way to make a real impact, and so far this installation has produced enough electricity to power 67 homes for a day," Whitby added.

Other completed or pending projects throughout Ohio include projects in Sheffield Lake, Toledo, Summit County, Guernsey County, Walton Hills, and a number of Cleveland suburbs.

2 Responses to Lake Erie Electric Launches Renewable Energy Solutions in Ohio & Michigan

  1. Hari on May 31, 2012 at 10:19 pm


    Keep in mind that some of the big players, comnapies we don't think of as green' comnapies, are playing important roles in developing green technology.BP: BP is doing a lot with solar and hydrogen. They're trading at around 49SI: Siemens, big in photovoltaics, trading around 74To learn more about the solar industry try the industry website: ases.org. You'll learn which comnapies are active.Wind is another great area to look into: awea.org, industry site, a place to learn who the players are.As you find comnapies, check out Yahoo message boards for those individual stocks and you'll pick up more names.I have a feeling that certain comnapies that are making advanced batteries will be a good investment. But I don't know which comnapies. That's something to research. There will be a lot of attention on batteries in the next few years, especially for hybrid and electric cars.I hope these ideas were useful

  2. Epmark on May 31, 2012 at 6:50 pm


    There are some index funds that invest in green enegry stocks. One option would be to buy some stock in one of those funds. Another would be to see what stocks they have bought and research those to see which you would prefer. I do need to warn you though that green enegry stocks are not as attractive as they once were, not with oil at $40 a barrel. Anyway here are the index funds. FAN at $13.38 a share First Trust ISE Global Wind Energy Index Fund. Its largest holding is Vestas Wind Systems, the largest wind turbine company. PWND at $12.82 a share Power Shares Global Wind Energy Portfolio. Its largest holding is Mitsubishi Heavy Industries. TAN at $8.70 a share Claymore/MAC Global Solar Energy Index ETF. Its largest holding is First SolarKWT at $15.38 a share Market Vectors Solar Energy ETF. Its largest holding is Q-CellsGEX at $23.42 a share Market Vectors Global Alternative Energy ETF. Its largest holding is First Solar. GWO at $5.46 a share ELEMENTS Global Warming. I have no idea what this fund holds but I think it has many of the securities owned by the others. One of the critiques of these index funds is that they are capitalization weighted. That means that overpriced stocks make up most of their holdings. Not a real great strategy for making money. But what you can do is go to the sites of these funds and find out what companies they have invested in and go from there. All of these are down significantly from their highs, some by better than 60%These are just a few of the index funds that I know of. There might be 20 more that I am not aware of.

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