well lookie here! [RE-wrenches]

Tue Jun 18 19:44:33 PDT 2002

June 18, 2002

Los Angeles, USA: Solar Factory Planned for Los Angeles
Los Angeles solar expert, Joel Davidson, announced today plans to hire up to 65 workers to manufacture solar electric panels. Davidson, President and CEO of Spectrum Solar, said, "The Department of Water and Power and State solar rebates plus increased interest in solar for homes and businesses are the right combination to create much needed jobs in Los Angeles." 
Davidson said the solar factory will produce solar cell modules and panels that convert sunlight to electricity with no pollution or moving parts. Greg Johanson, a licensed solar contractor and Spectrum Vice President, said, "The cash rebates are a powerful incentive to buy a solar electric system now." 
LADWP's rebate program gives residential and commercial customers up to 85% toward the cost of a solar electric system that uses panels made in Los Angeles where Spectrum Solar will lease a building. Southern California Edison and other utility customers are also eligible for rebates, state solar tax credits and federal incentives. 
"Inflation-free solar electricity plus rebates, tax credits and accelerated depreciation give businesses a 7 year or shorter payback and an opportunity to put their money where their beliefs are," said Davidson. 
Davidson said, "We have been meeting with LADWP managers and representatives from the Mayor's office. They support our efforts to create more inner-city jobs, especially in the solar industry. We are meeting with investors and looking for a building to lease or buy and plan to be up and running this year." 
Jim McDermott, Spectrum chairman and founder of Stamps.com, said, "We think Spectrum is a great opportunity to 'do well by doing good.' We need to switch from polluting fossil fuels to clean renewable energy." 
About Spectrum Solar 
Spectrum Solar, Inc. plans to locate a factory in the Los Angeles Enterprise and Empowerment Zones to manufacture photovoltaic (PV) solar electric modules and install solar electric power systems for the southern California renewable energy market serviced by Los Angeles Department of Water and Power, Southern California Edison, San Diego Gas & Electric and several municipal utility companies. 

Marco Mangelsdorf, Ph.D.
Marketing and Sales
ProVision Technologies, Inc.
69 Railroad Avenue, Suite A-7
Hilo, Hawaii 96720 USA
(808) 969-3281, fax 934-7462
www.provisiontechnologies.com

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