<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN">
<HTML xmlns="http://www.w3.org/TR/REC-html40" xmlns:v = 
"urn:schemas-microsoft-com:vml" xmlns:o = 
"urn:schemas-microsoft-com:office:office" xmlns:w = 
"urn:schemas-microsoft-com:office:word" xmlns:st1 = 
"urn:schemas-microsoft-com:office:smarttags"><HEAD>
<META content="text/html; charset=iso-8859-1" http-equiv=Content-Type>
<META name=ProgId content=Word.Document>
<META name=GENERATOR content="MSHTML 8.00.6001.18876">
<META name=Originator content="Microsoft Word 11"><LINK rel=File-List 
href="cid:filelist.xml@01CAC67E.C52ED480"><LINK rel=Edit-Time-Data 
href="cid:editdata.mso"><!--[if !mso]>
<STYLE>v\:* {
        BEHAVIOR: url(#default#VML)
}
o\:* {
        BEHAVIOR: url(#default#VML)
}
w\:* {
        BEHAVIOR: url(#default#VML)
}
.shape {
        BEHAVIOR: url(#default#VML)
}
</STYLE>
<![endif]--><o:SmartTagType name="place" 
namespaceuri="urn:schemas-microsoft-com:office:smarttags"></o:SmartTagType><o:SmartTagType 
name="address" 
namespaceuri="urn:schemas-microsoft-com:office:smarttags"></o:SmartTagType><o:SmartTagType 
name="PostalCode" 
namespaceuri="urn:schemas-microsoft-com:office:smarttags"></o:SmartTagType><o:SmartTagType 
name="State" 
namespaceuri="urn:schemas-microsoft-com:office:smarttags"></o:SmartTagType><o:SmartTagType 
name="City" 
namespaceuri="urn:schemas-microsoft-com:office:smarttags"></o:SmartTagType><o:SmartTagType 
name="Street" 
namespaceuri="urn:schemas-microsoft-com:office:smarttags"></o:SmartTagType><!--[if gte mso 9]><xml>
 <o:OfficeDocumentSettings>
  <o:DoNotRelyOnCSS/>
 </o:OfficeDocumentSettings>
</xml><![endif]--><!--[if gte mso 9]><xml>
 <w:WordDocument>
  <w:Zoom>150</w:Zoom>
  <w:DisplayBackgroundShape/>
  <w:SpellingState>Clean</w:SpellingState>
  <w:GrammarState>Clean</w:GrammarState>
  <w:DocumentKind>DocumentEmail</w:DocumentKind>
  <w:EnvelopeVis/>
  <w:ValidateAgainstSchemas/>
  <w:SaveIfXMLInvalid>false</w:SaveIfXMLInvalid>
  <w:IgnoreMixedContent>false</w:IgnoreMixedContent>
  <w:AlwaysShowPlaceholderText>false</w:AlwaysShowPlaceholderText>
  <w:BrowserLevel>MicrosoftInternetExplorer4</w:BrowserLevel>
 </w:WordDocument>
</xml><![endif]--><!--[if gte mso 9]><xml>
 <w:LatentStyles DefLockedState="false" LatentStyleCount="156">
 </w:LatentStyles>
</xml><![endif]--><!--[if !mso]>
<STYLE>
st1\:*{behavior:url(#default#ieooui) }
</STYLE>
<![endif]-->
<STYLE>
<!--
 /* Font Definitions */
 @font-face
        {font-family:"Arial Narrow";
        panose-1:2 11 5 6 2 2 2 3 2 4;
        mso-font-charset:0;
        mso-generic-font-family:swiss;
        mso-font-pitch:variable;
        mso-font-signature:647 0 0 0 159 0;}
@font-face
        {font-family:"Palatino Linotype";
        panose-1:2 4 5 2 5 5 5 3 3 4;
        mso-font-charset:0;
        mso-generic-font-family:roman;
        mso-font-pitch:variable;
        mso-font-signature:-536870009 1073741843 0 0 415 0;}
 /* Style Definitions */
 p.MsoNormal, li.MsoNormal, div.MsoNormal
        {mso-style-parent:"";
        margin:0in;
        margin-bottom:.0001pt;
        mso-pagination:widow-orphan;
        font-size:12.0pt;
        font-family:"Times New Roman";
        mso-fareast-font-family:"Times New Roman";
        color:windowtext;}
h1
        {mso-style-next:Normal;
        margin-top:12.0pt;
        margin-right:0in;
        margin-bottom:3.0pt;
        margin-left:0in;
        text-align:justify;
        mso-pagination:widow-orphan;
        page-break-after:avoid;
        mso-outline-level:1;
        font-size:16.0pt;
        font-family:Arial;
        color:navy;
        mso-font-kerning:16.0pt;
        font-weight:bold;}
h3
        {mso-style-update:auto;
        mso-style-next:apara;
        margin-top:6.0pt;
        margin-right:0in;
        margin-bottom:0in;
        margin-left:0in;
        margin-bottom:.0001pt;
        mso-line-height-alt:11.0pt;
        mso-pagination:widow-orphan lines-together;
        page-break-after:avoid;
        mso-outline-level:3;
        tab-stops:328.5pt;
        font-size:12.0pt;
        font-family:Arial;
        mso-bidi-font-family:"Times New Roman";
        color:windowtext;
        letter-spacing:-.5pt;
        mso-font-kerning:10.0pt;
        font-weight:normal;}
a:link, span.MsoHyperlink
        {color:blue;
        text-decoration:underline;
        text-underline:single;}
a:visited, span.MsoHyperlinkFollowed
        {color:blue;
        text-decoration:underline;
        text-underline:single;}
p
        {mso-margin-top-alt:auto;
        margin-right:0in;
        mso-margin-bottom-alt:auto;
        margin-left:0in;
        mso-pagination:widow-orphan;
        font-size:10.0pt;
        font-family:Arial;
        mso-fareast-font-family:"Times New Roman";
        mso-bidi-font-family:"Times New Roman";
        color:navy;}
p.alist, li.alist, div.alist
        {mso-style-name:alist;
        margin-top:0in;
        margin-right:0in;
        margin-bottom:0in;
        margin-left:.5in;
        margin-bottom:.0001pt;
        text-indent:-.15in;
        mso-pagination:widow-orphan;
        mso-list:l1 level1 lfo1;
        tab-stops:list .5in;
        font-size:12.0pt;
        font-family:"Times New Roman";
        mso-fareast-font-family:"Times New Roman";
        color:windowtext;}
p.ahead3, li.ahead3, div.ahead3
        {mso-style-name:ahead3;
        mso-style-update:auto;
        mso-style-parent:"Heading 3";
        mso-style-next:Normal;
        margin-top:6.0pt;
        margin-right:0in;
        margin-bottom:0in;
        margin-left:0in;
        margin-bottom:.0001pt;
        mso-line-height-alt:11.0pt;
        mso-pagination:widow-orphan lines-together;
        page-break-after:avoid;
        mso-outline-level:3;
        tab-stops:328.5pt;
        font-size:12.0pt;
        font-family:Arial;
        mso-fareast-font-family:"Times New Roman";
        mso-bidi-font-family:"Times New Roman";
        color:windowtext;
        letter-spacing:-.5pt;
        mso-font-kerning:10.0pt;}
p.StyleaparaJustifiedAfter0pt, li.StyleaparaJustifiedAfter0pt, div.StyleaparaJustifiedAfter0pt
        {mso-style-name:"Style apara + Justified After\:  0 pt";
        mso-style-update:auto;
        margin:0in;
        margin-bottom:.0001pt;
        text-align:justify;
        mso-pagination:widow-orphan;
        font-size:12.0pt;
        mso-bidi-font-size:10.0pt;
        font-family:"Arial Narrow";
        mso-fareast-font-family:"Times New Roman";
        mso-bidi-font-family:"Times New Roman";
        color:windowtext;}
p.alistnead, li.alistnead, div.alistnead
        {mso-style-name:alist_nead;
        mso-style-parent:alist;
        margin:0in;
        margin-bottom:.0001pt;
        mso-pagination:widow-orphan;
        font-size:12.0pt;
        font-family:Arial;
        mso-fareast-font-family:"Times New Roman";
        mso-bidi-font-family:"Times New Roman";
        color:windowtext;}
p.anumlist, li.anumlist, div.anumlist
        {mso-style-name:anumlist;
        mso-style-update:auto;
        margin:0in;
        margin-bottom:.0001pt;
        mso-pagination:widow-orphan;
        font-size:12.0pt;
        font-family:"Times New Roman";
        mso-fareast-font-family:"Times New Roman";
        color:windowtext;}
p.aHead1, li.aHead1, div.aHead1
        {mso-style-name:aHead1;
        mso-style-update:auto;
        mso-style-parent:"Heading 1";
        margin-top:0in;
        margin-right:0in;
        margin-bottom:6.0pt;
        margin-left:0in;
        text-align:center;
        mso-pagination:widow-orphan;
        page-break-after:avoid;
        mso-outline-level:1;
        font-size:16.0pt;
        font-family:Arial;
        mso-fareast-font-family:"Times New Roman";
        color:navy;
        mso-font-kerning:16.0pt;
        font-weight:bold;}
p.StyleHeading3Left0Firstline0, li.StyleHeading3Left0Firstline0, div.StyleHeading3Left0Firstline0
        {mso-style-name:"Style Heading 3 + Left\:  0\0022 First line\:  0\0022";
        mso-style-update:auto;
        mso-style-parent:"Heading 3";
        margin-top:6.0pt;
        margin-right:0in;
        margin-bottom:0in;
        margin-left:0in;
        margin-bottom:.0001pt;
        mso-line-height-alt:11.0pt;
        mso-pagination:widow-orphan lines-together;
        page-break-after:avoid;
        mso-outline-level:3;
        tab-stops:328.5pt;
        font-size:12.0pt;
        mso-bidi-font-size:10.0pt;
        font-family:Arial;
        mso-fareast-font-family:"Times New Roman";
        mso-bidi-font-family:"Times New Roman";
        color:windowtext;
        letter-spacing:-.5pt;
        mso-font-kerning:10.0pt;}
p.a-text, li.a-text, div.a-text
        {mso-style-name:a-text;
        mso-style-update:auto;
        margin:0in;
        margin-bottom:.0001pt;
        mso-pagination:widow-orphan;
        font-size:12.0pt;
        mso-bidi-font-size:10.0pt;
        font-family:"Times New Roman";
        mso-fareast-font-family:"Times New Roman";
        color:windowtext;}
p.apara, li.apara, div.apara
        {mso-style-name:apara;
        mso-style-update:auto;
        margin-top:0in;
        margin-right:0in;
        margin-bottom:6.0pt;
        margin-left:0in;
        text-indent:.35in;
        mso-pagination:widow-orphan;
        font-size:12.0pt;
        font-family:"Palatino Linotype";
        mso-fareast-font-family:"Times New Roman";
        mso-bidi-font-family:"Times New Roman";
        color:windowtext;}
p.StyleHeading1Centered, li.StyleHeading1Centered, div.StyleHeading1Centered
        {mso-style-name:"Style Heading 1 + Centered";
        mso-style-update:auto;
        mso-style-parent:"Heading 1";
        margin-top:0in;
        margin-right:0in;
        margin-bottom:6.0pt;
        margin-left:.5in;
        text-align:center;
        mso-pagination:widow-orphan;
        page-break-after:avoid;
        mso-outline-level:1;
        font-size:16.0pt;
        mso-bidi-font-size:10.0pt;
        font-family:Arial;
        mso-fareast-font-family:"Times New Roman";
        mso-bidi-font-family:"Times New Roman";
        color:navy;
        mso-font-kerning:16.0pt;
        font-weight:bold;}
p.Styleapara1TimesNewRomanFirstline025, li.Styleapara1TimesNewRomanFirstline025, div.Styleapara1TimesNewRomanFirstline025
        {mso-style-name:"Style apara1 + Times New Roman First line\:  0\.25\0022";
        mso-style-update:auto;
        margin:0in;
        margin-bottom:.0001pt;
        text-align:justify;
        text-indent:.25in;
        mso-pagination:widow-orphan;
        tab-stops:328.5pt;
        font-size:12.0pt;
        mso-bidi-font-size:10.0pt;
        font-family:"Times New Roman";
        mso-fareast-font-family:"Times New Roman";
        color:windowtext;
        letter-spacing:-.25pt;}
p.PPAhead, li.PPAhead, div.PPAhead
        {mso-style-name:PPAhead;
        margin:0in;
        margin-bottom:.0001pt;
        mso-pagination:widow-orphan;
        font-size:16.0pt;
        font-family:Arial;
        mso-fareast-font-family:"Times New Roman";
        color:windowtext;}
p.aparabullet, li.aparabullet, div.aparabullet
        {mso-style-name:aparabullet;
        mso-style-update:auto;
        mso-style-parent:apara;
        margin-top:0in;
        margin-right:0in;
        margin-bottom:0in;
        margin-left:.5in;
        margin-bottom:.0001pt;
        text-align:justify;
        text-indent:-.25in;
        mso-pagination:widow-orphan;
        mso-list:l4 level1 lfo2;
        tab-stops:list .5in;
        font-size:12.0pt;
        font-family:"Palatino Linotype";
        mso-fareast-font-family:"Times New Roman";
        mso-bidi-font-family:"Times New Roman";
        color:windowtext;
        letter-spacing:-.25pt;}
p.AAbulllist1, li.AAbulllist1, div.AAbulllist1
        {mso-style-name:AA_bull_list_1;
        margin:0in;
        margin-bottom:.0001pt;
        mso-pagination:widow-orphan;
        font-size:12.0pt;
        font-family:"Times New Roman";
        mso-fareast-font-family:"Times New Roman";
        color:windowtext;}
p.AAbulllist2, li.AAbulllist2, div.AAbulllist2
        {mso-style-name:AA_bull_list_2;
        margin-top:0in;
        margin-right:0in;
        margin-bottom:0in;
        margin-left:1.0in;
        margin-bottom:.0001pt;
        text-indent:-.25in;
        mso-pagination:widow-orphan;
        mso-list:l2 level2 lfo3;
        tab-stops:list 1.0in;
        font-size:12.0pt;
        font-family:"Times New Roman";
        mso-fareast-font-family:"Times New Roman";
        color:windowtext;}
p.Equation, li.Equation, div.Equation
        {mso-style-name:Equation;
        mso-style-update:auto;
        margin-top:0in;
        margin-right:0in;
        margin-bottom:6.0pt;
        margin-left:0in;
        text-align:center;
        mso-pagination:widow-orphan;
        font-size:12.0pt;
        font-family:"Times New Roman";
        mso-fareast-font-family:"Times New Roman";
        color:windowtext;}
p.WrightPara, li.WrightPara, div.WrightPara
        {mso-style-name:"Wright Para";
        margin-top:0in;
        margin-right:0in;
        margin-bottom:0in;
        margin-left:.25in;
        margin-bottom:.0001pt;
        mso-pagination:widow-orphan;
        tab-stops:.25in;
        font-size:12.0pt;
        font-family:"Times New Roman";
        mso-fareast-font-family:"Times New Roman";
        color:windowtext;}
p.ABULL, li.ABULL, div.ABULL
        {mso-style-name:ABULL;
        mso-style-update:auto;
        margin-top:0in;
        margin-right:0in;
        margin-bottom:0in;
        margin-left:.5in;
        margin-bottom:.0001pt;
        text-indent:-.25in;
        mso-pagination:widow-orphan;
        mso-list:l0 level1 lfo4;
        mso-hyphenate:none;
        tab-stops:list .5in;
        font-size:12.0pt;
        font-family:"Times New Roman";
        mso-fareast-font-family:"Times New Roman";
        color:black;
        mso-fareast-language:AR-SA;}
span.EmailStyle36
        {mso-style-type:personal;
        mso-style-noshow:yes;
        mso-ansi-font-size:10.0pt;
        mso-bidi-font-size:10.0pt;
        font-family:Arial;
        mso-ascii-font-family:Arial;
        mso-hansi-font-family:Arial;
        mso-bidi-font-family:Arial;
        color:navy;}
span.EmailStyle37
        {mso-style-type:personal-reply;
        mso-style-noshow:yes;
        mso-ansi-font-size:10.0pt;
        mso-bidi-font-size:10.0pt;
        font-family:Arial;
        mso-ascii-font-family:Arial;
        mso-hansi-font-family:Arial;
        mso-bidi-font-family:Arial;
        color:navy;}
span.SpellE
        {mso-style-name:"";
        mso-spl-e:yes;}
@page Section1
        {size:8.5in 11.0in;
        margin:1.0in 1.25in 1.0in 1.25in;
        mso-header-margin:.5in;
        mso-footer-margin:.5in;
        mso-paper-source:0;}
div.Section1
        {page:Section1;}
 /* List Definitions */
 @list l0
        {mso-list-id:1153447148;
        mso-list-type:hybrid;
        mso-list-template-ids:-493563092 -568027952 67698713 67698715 67698703 67698713 67698715 67698703 67698713 67698715;}
@list l0:level1
        {mso-level-number-format:none;
        mso-level-style-link:ABULL;
        mso-level-suffix:none;
        mso-level-text:\00B7;
        mso-level-tab-stop:.5in;
        mso-level-number-position:left;
        text-indent:-.25in;
        mso-ascii-font-family:Symbol;
        mso-hansi-font-family:Symbol;}
@list l0:level2
        {mso-level-tab-stop:1.0in;
        mso-level-number-position:left;
        text-indent:-.25in;}
@list l0:level3
        {mso-level-tab-stop:1.5in;
        mso-level-number-position:left;
        text-indent:-.25in;}
@list l0:level4
        {mso-level-tab-stop:2.0in;
        mso-level-number-position:left;
        text-indent:-.25in;}
@list l0:level5
        {mso-level-tab-stop:2.5in;
        mso-level-number-position:left;
        text-indent:-.25in;}
@list l0:level6
        {mso-level-tab-stop:3.0in;
        mso-level-number-position:left;
        text-indent:-.25in;}
@list l0:level7
        {mso-level-tab-stop:3.5in;
        mso-level-number-position:left;
        text-indent:-.25in;}
@list l0:level8
        {mso-level-tab-stop:4.0in;
        mso-level-number-position:left;
        text-indent:-.25in;}
@list l0:level9
        {mso-level-tab-stop:4.5in;
        mso-level-number-position:left;
        text-indent:-.25in;}
@list l1
        {mso-list-id:1374502153;
        mso-list-type:hybrid;
        mso-list-template-ids:-1037953930 923842848 67698691 67698693 67698689 67698691 67698693 67698689 67698691 67698693;}
@list l1:level1
        {mso-level-start-at:0;
        mso-level-number-format:bullet;
        mso-level-style-link:alist;
        mso-level-text:\F0B7;
        mso-level-tab-stop:.5in;
        mso-level-number-position:left;
        text-indent:-.15in;
        font-family:Symbol;
        mso-fareast-font-family:"Times New Roman";
        mso-bidi-font-family:Arial;
        color:windowtext;}
@list l1:level2
        {mso-level-number-format:bullet;
        mso-level-text:o;
        mso-level-tab-stop:1.35in;
        mso-level-number-position:left;
        margin-left:1.35in;
        text-indent:-.25in;
        font-family:"Courier New";}
@list l1:level3
        {mso-level-tab-stop:1.5in;
        mso-level-number-position:left;
        text-indent:-.25in;}
@list l1:level4
        {mso-level-tab-stop:2.0in;
        mso-level-number-position:left;
        text-indent:-.25in;}
@list l1:level5
        {mso-level-tab-stop:2.5in;
        mso-level-number-position:left;
        text-indent:-.25in;}
@list l1:level6
        {mso-level-tab-stop:3.0in;
        mso-level-number-position:left;
        text-indent:-.25in;}
@list l1:level7
        {mso-level-tab-stop:3.5in;
        mso-level-number-position:left;
        text-indent:-.25in;}
@list l1:level8
        {mso-level-tab-stop:4.0in;
        mso-level-number-position:left;
        text-indent:-.25in;}
@list l1:level9
        {mso-level-tab-stop:4.5in;
        mso-level-number-position:left;
        text-indent:-.25in;}
@list l2
        {mso-list-id:1415589764;
        mso-list-type:hybrid;
        mso-list-template-ids:1586279428 2093282660 67698713 67698713 67698703 67698713 67698715 67698703 67698713 67698715;}
@list l2:level1
        {mso-level-tab-stop:.5in;
        mso-level-number-position:left;
        text-indent:-.25in;}
@list l2:level2
        {mso-level-number-format:alpha-lower;
        mso-level-style-link:AA_bull_list_2;
        mso-level-tab-stop:1.0in;
        mso-level-number-position:left;
        text-indent:-.25in;}
@list l2:level3
        {mso-level-number-format:alpha-lower;
        mso-level-tab-stop:117.0pt;
        mso-level-number-position:left;
        margin-left:117.0pt;
        text-indent:-.25in;}
@list l2:level4
        {mso-level-tab-stop:2.0in;
        mso-level-number-position:left;
        text-indent:-.25in;}
@list l2:level5
        {mso-level-tab-stop:2.5in;
        mso-level-number-position:left;
        text-indent:-.25in;}
@list l2:level6
        {mso-level-tab-stop:3.0in;
        mso-level-number-position:left;
        text-indent:-.25in;}
@list l2:level7
        {mso-level-tab-stop:3.5in;
        mso-level-number-position:left;
        text-indent:-.25in;}
@list l2:level8
        {mso-level-tab-stop:4.0in;
        mso-level-number-position:left;
        text-indent:-.25in;}
@list l2:level9
        {mso-level-tab-stop:4.5in;
        mso-level-number-position:left;
        text-indent:-.25in;}
@list l3
        {mso-list-id:1641569389;
        mso-list-type:hybrid;
        mso-list-template-ids:-883098406 1769606622 67698713 67698715 67698703 67698713 67698715 67698703 67698713 67698715;}
@list l3:level1
        {mso-level-text:"\(%1\)";
        mso-level-tab-stop:.5in;
        mso-level-number-position:left;
        text-indent:-.25in;}
@list l3:level2
        {mso-level-tab-stop:1.0in;
        mso-level-number-position:left;
        text-indent:-.25in;}
@list l3:level3
        {mso-level-tab-stop:1.5in;
        mso-level-number-position:left;
        text-indent:-.25in;}
@list l3:level4
        {mso-level-tab-stop:2.0in;
        mso-level-number-position:left;
        text-indent:-.25in;}
@list l3:level5
        {mso-level-tab-stop:2.5in;
        mso-level-number-position:left;
        text-indent:-.25in;}
@list l3:level6
        {mso-level-tab-stop:3.0in;
        mso-level-number-position:left;
        text-indent:-.25in;}
@list l3:level7
        {mso-level-tab-stop:3.5in;
        mso-level-number-position:left;
        text-indent:-.25in;}
@list l3:level8
        {mso-level-tab-stop:4.0in;
        mso-level-number-position:left;
        text-indent:-.25in;}
@list l3:level9
        {mso-level-tab-stop:4.5in;
        mso-level-number-position:left;
        text-indent:-.25in;}
@list l4
        {mso-list-id:1937596687;
        mso-list-type:hybrid;
        mso-list-template-ids:-89214982 1080878598 67698691 67698693 67698689 67698691 67698693 67698689 67698691 67698693;}
@list l4:level1
        {mso-level-number-format:bullet;
        mso-level-style-link:aparabullet;
        mso-level-text:\F0B7;
        mso-level-tab-stop:.5in;
        mso-level-number-position:left;
        text-indent:-.25in;
        mso-ansi-font-size:10.0pt;
        mso-bidi-font-size:10.0pt;
        font-family:Symbol;}
@list l4:level2
        {mso-level-tab-stop:1.0in;
        mso-level-number-position:left;
        text-indent:-.25in;}
@list l4:level3
        {mso-level-tab-stop:1.5in;
        mso-level-number-position:left;
        text-indent:-.25in;}
@list l4:level4
        {mso-level-tab-stop:2.0in;
        mso-level-number-position:left;
        text-indent:-.25in;}
@list l4:level5
        {mso-level-tab-stop:2.5in;
        mso-level-number-position:left;
        text-indent:-.25in;}
@list l4:level6
        {mso-level-tab-stop:3.0in;
        mso-level-number-position:left;
        text-indent:-.25in;}
@list l4:level7
        {mso-level-tab-stop:3.5in;
        mso-level-number-position:left;
        text-indent:-.25in;}
@list l4:level8
        {mso-level-tab-stop:4.0in;
        mso-level-number-position:left;
        text-indent:-.25in;}
@list l4:level9
        {mso-level-tab-stop:4.5in;
        mso-level-number-position:left;
        text-indent:-.25in;}
ol
        {margin-bottom:0in;}
ul
        {margin-bottom:0in;}
-->
</STYLE>
<!--[if gte mso 10]>
<style>
 /* Style Definitions */ 
 table.MsoNormalTable
        {mso-style-name:"Table Normal";
        mso-tstyle-rowband-size:0;
        mso-tstyle-colband-size:0;
        mso-style-noshow:yes;
        mso-style-parent:"";
        mso-padding-alt:0in 5.4pt 0in 5.4pt;
        mso-para-margin:0in;
        mso-para-margin-bottom:.0001pt;
        mso-pagination:widow-orphan;
        font-size:10.0pt;
        font-family:"Times New Roman";
        mso-ansi-language:#0400;
        mso-fareast-language:#0400;
        mso-bidi-language:#0400;}
</style>
<![endif]--><!--[if gte mso 9]><xml>
 <o:shapedefaults v:ext="edit" spidmax="1029" />
</xml><![endif]--><!--[if gte mso 9]><xml>
 <o:shapelayout v:ext="edit">
  <o:idmap v:ext="edit" data="1" />
 </o:shapelayout></xml><![endif]--></HEAD>
<BODY style="tab-interval: .5in" lang=EN-US link=blue bgColor=#ffffff 
vLink=blue>
<DIV><FONT size=2 face=Arial>Hello Peter,</FONT></DIV>
<DIV><FONT size=2 face=Arial></FONT> </DIV>
<DIV><FONT size=2 face=Arial>I have seen 40% to 70% monthly demand charge 
reduction for some southern California PV projects for some months, but it is 
still a crap shoot. 15 minutes and 1 second of clouds during the peak demand 
period will trump a client's energy management efforts unless 
they are willing and able to shed loads during cloudy periods. I tell 
clients that they cannot rely on the weather to cooperate, to monitor and 
control their demand, and to think of any PV savings on their monthly 
demand charge as a windfall.</FONT></DIV>
<DIV><FONT size=2 face=Arial></FONT> </DIV>
<DIV><FONT size=2 face=Arial>Joel Davidson</FONT></DIV>
<DIV> </DIV>
<DIV>----- Original Message ----- </DIV>
<BLOCKQUOTE 
style="BORDER-LEFT: #000000 2px solid; PADDING-LEFT: 5px; PADDING-RIGHT: 0px; MARGIN-LEFT: 5px; MARGIN-RIGHT: 0px">
  <DIV 
  style="FONT: 10pt arial; BACKGROUND: #e4e4e4; font-color: black"><B>From:</B> 
  <A title=peter.parrish@calsolareng.com 
  href="mailto:peter.parrish@calsolareng.com">Peter Parrish</A> </DIV>
  <DIV style="FONT: 10pt arial"><B>To:</B> <A 
  title=re-wrenches@lists.re-wrenches.org 
  href="mailto:re-wrenches@lists.re-wrenches.org">'RE-wrenches'</A> </DIV>
  <DIV style="FONT: 10pt arial"><B>Sent:</B> Thursday, March 18, 2010 9:38 
  AM</DIV>
  <DIV style="FONT: 10pt arial"><B>Subject:</B> [RE-wrenches] Demand Charge 
  Reduction by PV</DIV>
  <DIV><BR></DIV>
  <DIV class=Section1>
  <P class=MsoNormal><FONT color=navy size=2 face=Arial><SPAN 
  style="FONT-FAMILY: Arial; COLOR: navy; FONT-SIZE: 10pt">I failed to clean up 
  the subject line on this post a few minutes ago. Please respond to this post 
  so that we can keep track of the topic properly.</SPAN></FONT><FONT size=2 
  face=Arial><SPAN 
  style="FONT-FAMILY: Arial; FONT-SIZE: 10pt"><o:p></o:p></SPAN></FONT></P>
  <P class=MsoNormal><FONT color=navy size=2 face=Arial><SPAN 
  style="FONT-FAMILY: Arial; COLOR: navy; FONT-SIZE: 10pt"><o:p> </o:p></SPAN></FONT></P>
  <P class=MsoNormal><FONT color=navy size=2 face=Arial><SPAN 
  style="FONT-FAMILY: Arial; COLOR: navy; FONT-SIZE: 10pt">Esteemed 
  wrenches,<o:p></o:p></SPAN></FONT></P>
  <P class=MsoNormal><FONT color=navy size=2 face=Arial><SPAN 
  style="FONT-FAMILY: Arial; COLOR: navy; FONT-SIZE: 10pt"><o:p> </o:p></SPAN></FONT></P>
  <P class=MsoNormal><FONT color=navy size=2 face=Arial><SPAN 
  style="FONT-FAMILY: Arial; COLOR: navy; FONT-SIZE: 10pt">I have been wrestling 
  with this concept about as long as we have been in business. How to estimate 
  how much a <SPAN class=SpellE>pv</SPAN> system will reduce the demand charge 
  for a customer.<o:p></o:p></SPAN></FONT></P>
  <P class=MsoNormal><FONT color=navy size=2 face=Arial><SPAN 
  style="FONT-FAMILY: Arial; COLOR: navy; FONT-SIZE: 10pt"><o:p> </o:p></SPAN></FONT></P>
  <P class=MsoNormal><FONT color=navy size=2 face=Arial><SPAN 
  style="FONT-FAMILY: Arial; COLOR: navy; FONT-SIZE: 10pt">I know the “worst 
  case” goes as follows: <o:p></o:p></SPAN></FONT></P>
  <P class=MsoNormal><FONT color=navy size=2 face=Arial><SPAN 
  style="FONT-FAMILY: Arial; COLOR: navy; FONT-SIZE: 10pt"><o:p> </o:p></SPAN></FONT></P>
  <P 
  style="TEXT-INDENT: -0.25in; MARGIN-LEFT: 0.5in; tab-stops: list .5in; mso-list: l3 level1 lfo5" 
  class=MsoNormal><![if !supportLists]><FONT color=navy size=2 face=Arial><SPAN 
  style="FONT-FAMILY: Arial; COLOR: navy; FONT-SIZE: 10pt; mso-fareast-font-family: Arial"><SPAN 
  style="mso-list: Ignore">(1)<FONT size=1 face="Times New Roman"><SPAN 
  style="FONT: 7pt 'Times New Roman'">     
  </SPAN></FONT></SPAN></SPAN></FONT><![endif]><FONT color=navy size=2 
  face=Arial><SPAN 
  style="FONT-FAMILY: Arial; COLOR: navy; FONT-SIZE: 10pt">Demand is based on 
  measuring the consumption every 15 minutes and keeping track of those numbers 
  for the entire billing period.<o:p></o:p></SPAN></FONT></P>
  <P 
  style="TEXT-INDENT: -0.25in; MARGIN-LEFT: 0.5in; tab-stops: list .5in; mso-list: l3 level1 lfo5" 
  class=MsoNormal><![if !supportLists]><FONT color=navy size=2 face=Arial><SPAN 
  style="FONT-FAMILY: Arial; COLOR: navy; FONT-SIZE: 10pt; mso-fareast-font-family: Arial"><SPAN 
  style="mso-list: Ignore">(2)<FONT size=1 face="Times New Roman"><SPAN 
  style="FONT: 7pt 'Times New Roman'">     
  </SPAN></FONT></SPAN></SPAN></FONT><![endif]><FONT color=navy size=2 
  face=Arial><SPAN style="FONT-FAMILY: Arial; COLOR: navy; FONT-SIZE: 10pt">The 
  customer gets socked with a demand charge that is based on the highest 15 
  minute consumption for the entire billing period.<o:p></o:p></SPAN></FONT></P>
  <P 
  style="TEXT-INDENT: -0.25in; MARGIN-LEFT: 0.5in; tab-stops: list .5in; mso-list: l3 level1 lfo5" 
  class=MsoNormal><![if !supportLists]><FONT color=navy size=2 face=Arial><SPAN 
  style="FONT-FAMILY: Arial; COLOR: navy; FONT-SIZE: 10pt; mso-fareast-font-family: Arial"><SPAN 
  style="mso-list: Ignore">(3)<FONT size=1 face="Times New Roman"><SPAN 
  style="FONT: 7pt 'Times New Roman'">     
  </SPAN></FONT></SPAN></SPAN></FONT><![endif]><FONT color=navy size=2 
  face=Arial><SPAN style="FONT-FAMILY: Arial; COLOR: navy; FONT-SIZE: 10pt">The 
  customer also gets soaked with a “facilities charge” that is equal to the 
  greatest monthly demand number for the trailing 12 
  months.<o:p></o:p></SPAN></FONT></P>
  <P 
  style="TEXT-INDENT: -0.25in; MARGIN-LEFT: 0.5in; tab-stops: list .5in; mso-list: l3 level1 lfo5" 
  class=MsoNormal><![if !supportLists]><FONT color=navy size=2 face=Arial><SPAN 
  style="FONT-FAMILY: Arial; COLOR: navy; FONT-SIZE: 10pt; mso-fareast-font-family: Arial"><SPAN 
  style="mso-list: Ignore">(4)<FONT size=1 face="Times New Roman"><SPAN 
  style="FONT: 7pt 'Times New Roman'">     
  </SPAN></FONT></SPAN></SPAN></FONT><![endif]><FONT color=navy size=2 
  face=Arial><SPAN style="FONT-FAMILY: Arial; COLOR: navy; FONT-SIZE: 10pt">Now 
  you have a solar system pumping out <SPAN class=SpellE>Wac</SPAN> varying over 
  the familiar bell-shaped curve during the day.<o:p></o:p></SPAN></FONT></P>
  <P 
  style="TEXT-INDENT: -0.25in; MARGIN-LEFT: 0.5in; tab-stops: list .5in; mso-list: l3 level1 lfo5" 
  class=MsoNormal><![if !supportLists]><FONT color=navy size=2 face=Arial><SPAN 
  style="FONT-FAMILY: Arial; COLOR: navy; FONT-SIZE: 10pt; mso-fareast-font-family: Arial"><SPAN 
  style="mso-list: Ignore">(5)<FONT size=1 face="Times New Roman"><SPAN 
  style="FONT: 7pt 'Times New Roman'">     
  </SPAN></FONT></SPAN></SPAN></FONT><![endif]><FONT color=navy size=2 
  face=Arial><SPAN style="FONT-FAMILY: Arial; COLOR: navy; FONT-SIZE: 10pt">In 
  the southwest US, peak demand typically occurs early in the afternoon in the 
  summer, during the week. Our LADWP has a mantra that goes something like this, 
  “Peak demand occurs at 3pm PDT on the third Thursday in August!” I believe 
  them.<o:p></o:p></SPAN></FONT></P>
  <P 
  style="TEXT-INDENT: -0.25in; MARGIN-LEFT: 0.5in; tab-stops: list .5in; mso-list: l3 level1 lfo5" 
  class=MsoNormal><![if !supportLists]><FONT color=navy size=2 face=Arial><SPAN 
  style="FONT-FAMILY: Arial; COLOR: navy; FONT-SIZE: 10pt; mso-fareast-font-family: Arial"><SPAN 
  style="mso-list: Ignore">(6)<FONT size=1 face="Times New Roman"><SPAN 
  style="FONT: 7pt 'Times New Roman'">     
  </SPAN></FONT></SPAN></SPAN></FONT><![endif]><FONT color=navy size=2 
  face=Arial><SPAN style="FONT-FAMILY: Arial; COLOR: navy; FONT-SIZE: 10pt">So 
  one would expect something like 40% of the peak <SPAN class=SpellE>Wac</SPAN> 
  to offset the peak demand, but what happened if the sun goes behind a cloud 
  for those 15 minutes? Answer, “Bad luck. Your demand is back to what it was 
  before you bought your solar system.<o:p></o:p></SPAN></FONT></P>
  <P 
  style="TEXT-INDENT: -0.25in; MARGIN-LEFT: 0.5in; tab-stops: list .5in; mso-list: l3 level1 lfo5" 
  class=MsoNormal><![if !supportLists]><FONT color=navy size=2 face=Arial><SPAN 
  style="FONT-FAMILY: Arial; COLOR: navy; FONT-SIZE: 10pt; mso-fareast-font-family: Arial"><SPAN 
  style="mso-list: Ignore">(7)<FONT size=1 face="Times New Roman"><SPAN 
  style="FONT: 7pt 'Times New Roman'">     
  </SPAN></FONT></SPAN></SPAN></FONT><![endif]><FONT color=navy size=2 
  face=Arial><SPAN style="FONT-FAMILY: Arial; COLOR: navy; FONT-SIZE: 10pt">It 
  is actually worse than that. Peak demand recurs with approximately with the 
  same value with some regularity for an extended period of time, so the sun 
  will have to shine with full intensity every day when peak demand is expected 
  to occur, which in LA could be every day (M-F) of the 30 day billing 
  period.<o:p></o:p></SPAN></FONT></P>
  <P class=MsoNormal><FONT color=navy size=2 face=Arial><SPAN 
  style="FONT-FAMILY: Arial; COLOR: navy; FONT-SIZE: 10pt"><o:p> </o:p></SPAN></FONT></P>
  <P class=MsoNormal><FONT color=navy size=2 face=Arial><SPAN 
  style="FONT-FAMILY: Arial; COLOR: navy; FONT-SIZE: 10pt">I have always taken 
  the position that we can’t guarantee that any of the demand charge will be 
  reduced with a solar system. But what do other PV integrators tell there 
  customers? Better yet is there any actual data on demand reduction with PV 
  systems? It seems to me that occasionally the monthly peak demand will in fact 
  be shaved by PV production, the question is how often in 
  practice?<o:p></o:p></SPAN></FONT></P>
  <P class=MsoNormal><FONT color=navy size=2 face=Arial><SPAN 
  style="FONT-FAMILY: Arial; COLOR: navy; FONT-SIZE: 10pt"><o:p> </o:p></SPAN></FONT></P>
  <P class=MsoNormal><FONT color=navy size=2 face=Arial><SPAN 
  style="FONT-FAMILY: Arial; COLOR: navy; FONT-SIZE: 10pt">I once thought of 
  taking actual insolation data and comparing it with actual demand data and 
  doing a <st1:place w:st="on">Monte Carlo</st1:place> simulation (throwing the 
  dice = randomly matching up demand data with solar production data) – but I 
  haven’t retired yet.<o:p></o:p></SPAN></FONT></P>
  <P class=MsoNormal><FONT color=navy size=2 face=Arial><SPAN 
  style="FONT-FAMILY: Arial; COLOR: navy; FONT-SIZE: 10pt"><o:p> </o:p></SPAN></FONT></P>
  <DIV>
  <P class=MsoNormal><FONT color=navy size=2 face=Arial><SPAN 
  style="FONT-FAMILY: Arial; COLOR: navy; FONT-SIZE: 10pt; mso-no-proof: yes"><!--[if gte vml 1]><v:shape 
 id="_x0000_s1026" style='position:absolute;margin-left:0;margin-top:0;width:50pt;
 height:50pt;z-index:1;visibility:hidden' coordsize="21600,21600" o:spt="100" 
 o:preferrelative="t" adj="0,,0" path="" filled="f">
 <v:stroke joinstyle="miter" />
 <v:formulas/>
 <v:path o:extrusionok="f" gradientshapeok="t" o:connecttype="rect" />
 <o:lock v:ext="edit" aspectratio="t" selection="t" />
</v:shape><![endif]-->I would love to hear what others are doing about 
  this.<o:p></o:p></SPAN></FONT></P>
  <P class=MsoNormal><FONT color=navy size=2 face=Arial><SPAN 
  style="FONT-FAMILY: Arial; COLOR: navy; FONT-SIZE: 10pt; mso-no-proof: yes"><o:p> </o:p></SPAN></FONT></P>
  <P class=MsoNormal><FONT color=navy size=2 face=Arial><SPAN 
  style="FONT-FAMILY: Arial; COLOR: navy; FONT-SIZE: 10pt; mso-no-proof: yes">- 
  Peter<o:p></o:p></SPAN></FONT></P>
  <P><FONT color=navy size=2 face=Arial><SPAN 
  style="FONT-SIZE: 10pt; mso-bidi-font-family: Arial; mso-no-proof: yes">Peter 
  T. Parrish, Ph.D., President<BR><st1:place w:st="on"><st1:State 
  w:st="on">California</st1:State></st1:place> Solar Engineering, 
  Inc.<BR><st1:address w:st="on"><st1:Street w:st="on">820 Cynthia 
  Ave.</st1:Street>, <st1:City w:st="on">Los Angeles</st1:City>, <st1:State 
  w:st="on">CA</st1:State> <st1:PostalCode 
  w:st="on">90065</st1:PostalCode></st1:address><BR>CA Lic. 854779, NABCEP Cert. 
  031806-26<BR><A 
  href="mailto:peter.parrish@calsolareng.com">peter.parrish@calsolareng.com</A><SPAN 
  style="mso-spacerun: yes">  </SPAN><BR>Ph 323-258-8883, <st1:place 
  w:st="on"><st1:City w:st="on">Mobile</st1:City></st1:place> 323-839-6108, Fax 
  323-258-8885<SPAN 
  style="mso-spacerun: yes">                                  
  </SPAN><SPAN 
  style="mso-spacerun: yes">                                                                 </SPAN><o:p></o:p></SPAN></FONT></P>
  <P><FONT color=navy size=2 face=Arial><SPAN 
  style="FONT-SIZE: 10pt; mso-bidi-font-family: Arial; mso-no-proof: yes"> </SPAN></FONT><FONT 
  color=black><SPAN 
  style="COLOR: windowtext; mso-bidi-font-family: Arial"><o:p></o:p></SPAN></FONT></P></DIV></DIV>
  <P>
  <HR>

  <P></P>_______________________________________________<BR>List sponsored by 
  Home Power magazine<BR><BR>List Address: 
  RE-wrenches@lists.re-wrenches.org<BR><BR>Options & 
  settings:<BR>http://lists.re-wrenches.org/options.cgi/re-wrenches-re-wrenches.org<BR><BR>List-Archive: 
  http://lists.re-wrenches.org/pipermail/re-wrenches-re-wrenches.org<BR><BR>List 
  rules & etiquette:<BR>www.re-wrenches.org/etiquette.htm<BR><BR>Check out 
  participant 
bios:<BR>www.members.re-wrenches.org<BR><BR></BLOCKQUOTE></BODY></HTML>