SunTechnics’ Purchase of Aztec Solar Marks Transformation of Solar Thermal Industry in California
Sacramento, Calif., May 10, 2007
Source: SunTechnics Energy Systems / press release
http://www.suntechnics.com/pmeldungen/ST_US%20_AztecSolar_070510.pdf
SunTechnics Energy Systems Inc., a leading renewable energy system provider, today announced a definitive agreement to acquire privately held
Aztec Solar of Rancho Cordova, Calif. SunTechnics Energy Systems is a wholly owned subsidiary of the Hamburg, Germany-based SunTechnics GmbH. Under the agreement, Ed Murray, Aztec’s founder and owner, will be responsible for the SunTechnics U.S. solar thermal business unit.
The purchase of Aztec Solar, a leading installer of solar hot water and pool-heating systems, will allow SunTechnics to support the important and fast-growing solar thermal market in California. It will also provide SunTechnics with additional installation and sales expertise to offer more
value-added and customized solutions that encourage solar energy adoption.
The solar thermal technology is based on roof-mounted panels that capture light from the sun to heat water and thus reduce the portion of gas or electric bills related to heating water by up to 70 percent annually. Current federal tax credits of up to 30 percent for residential customers and for commercial applications provide systems payback times of six to 10 years.
Aztec Solar was founded 12 years ago by Ed Murray in Sacramento, and has an experienced team of 30 employees who have installed more than 7,500 turnkey residential and commercial solar systems throughout California. “Over the past few years, we have witnessed a significant growth in demand for solar thermal in the California market. The current installed base of up
to 80 megawatts is a sign of the market’s strength, and we anticipate rapid growth,” said Murray. “As part of SunTechnics we will now be able to offer our customers complete solar power and heating solutions supported by strong sales and premium customer service channels.”
Ed Murray, a long-time member of the California Solar Energy Industries Association (CALSEIA), was voted Solar Man of the Year 1993 by the association and worked on the development of the California Solar Rights Act and the California Solar Initiative. “Aztec Solar’s experienced team offers us a competitive advantage that will allow us to increase our market share in both the photovoltaic and solar water heating businesses. We see this move as a significant revenue growth driver in 2007 and beyond,” said Florian Edler,
About SunTechnics
SunTechnics is a subsidiary of the publicly traded company Conergy AG, the biggest solar energy company in Europe. Already one of the leading suppliers of turnkey renewable energy systems in the world, SunTechnics continues to drive its international expansion.