Trendsetter Solar Products (CE) (USOTC:TSSP)
Historical Stock Chart
From Jul 2019 to Jul 2024
TrendSetter Solar Products (Pink Sheets: TSSP) today announced the
introduction of its new Solar Tank Product, named the “PiggyBack™”,
for the fact that a traditional hot water heater sits on top of this new
solar hot water tank and works by circulating solar heated water into
the traditional hot water heater. This new tank has several key
advantages over the standard TrendSetter residential systems and will
prove to be a highly efficient and more affordable solar hot water
solution for most homeowners using traditional water heaters. Although
the new PiggyBack™ system is not designed to
replace the larger more comprehensive TrendSetter systems, it is
designed to fulfill the needs of a specific sector of the retrofit
market and allow customer to benefit from the current Federal Tax Credit
program.
One advantage is the retail price; the new system has been value
engineered so TrendSetter can offer an entry level priced system to
existing homeowners. The new system has an expected retail price of
approximately $6,700 installed in a single family residence; and will
qualify the customer for up to $2,000 in federal tax credits in addition
to any state, utility and local rebates. The final price for the
customer after tax credits will be less than $5,000 which, if financed,
the payments should prove to be less than the cost of the utilities that
they are replacing for heating domestic hot water.
Another advantage is the improvement in technology that allows the
system to operate off of a Photovoltaic (PV) panel which is included
with the system. The combination of proprietary electronics and a 12
volt solar water pump make the system highly efficient and independent
of the homeowner’s electrical utility. The
simplicity and elegance of the system’s
engineering and design to give the new product an extended life cycle
with little maintenance estimated to be in excess of the life cycle of a
traditional hot water heater.
Norm Ehrlich, CTO and TrendSetter Founder, stated, “The
PiggyBack™ tank has several advantages
including a 12 volt pump which is powered by a Photovoltaic (PV) panel
and a new proprietary controller. The 12 volt pump is powered by the sun
thus freeing the system from traditional home electricity. The new
controller will allow the pump to work with the Photovoltaic panel while
the sun is shining.”
Dirk Atkinson, CEO, stated, “This product has
a more attractive price point for the customer and is easier to install.
The combination of price point and ease of installation is expected to
help drive new sales for the company. We expect this product to become
one of the mainstream products in the solar hot water heater market.”
About TrendSetter Solar Products
TrendSetter Solar Products, Inc. is a quality manufacturer of solar hot
water heating and storage systems in the United States. TrendSetter's
solar hot water systems and storage tanks are uniquely positioned to
serve the residential and commercial market. The Company offers a
comprehensive range of solar water heating solutions, including solar
radiant floor heating options, which are rated and qualify for the new
federal energy tax credit program. A standard residential hot water
heater emits approximately one and a half tons of carbon dioxide and
carbon monoxide into the atmosphere. TrendSetter's solar hot water
heating and storage systems are emissions free. As global warming and
alternate and renewable energies become more of a concern, TrendSetter's
products are one of the answers. Additional information can be seen at
the Company's website www.trendsetterindustries.com.
Disclaimer: The Company relies upon Safe Harbor Laws of 1933, 1934
and 1995 for all public news releases. Statements, which are not
historical facts, are forward-looking statements. The company, through
its management, makes forward-looking public statements concerning its
expected future operations, performance and other developments. Such
forward-looking statements are necessarily estimates reflecting the
company's best judgment based upon current information and involve a
number of risks and uncertainties, and there can be no assurance that
other factors will not affect the accuracy of such forward-looking
statements. It is impossible to identify all such factors. Factors which
could cause actual results to differ materially from those estimated by
the company include, but are not limited to, government regulation;
managing and maintaining growth; the effect of adverse publicity;
litigation; competition; and other factors which may be identified from
time to time in the company's public announcements.