BALTIMORE, Jan. 18, 2011 (GLOBE NEWSWIRE) -- Kalahari Greentech, Inc. (Pink Sheets:KHGT) released a statement today discussing the company's revenue projections for 2011.
According to the American Housing Survey, there were 128,203,000 housing units in the United States in 2007 (Source: ). If only one tenth of 1% of the approximately 128 million housing units were to purchase the Tri-Brid Solar Collector at a price of $7,600, the resulting revenue to Kalahari would be $973 million. The annualized energy cost savings for the same housing units would be over $300 million.
According to the U.S. Department of Energy, the 2008 average household energy usage is 1.26 kilowatts continuous, or 920 kilowatt-hours per month, yielding an average bill of $103 (Source: ). By designing the standalone Solar Tri-Brid to meet the majority of the energy needs of the average household, Kalahari expects to convince U.S. consumers that its product will be both cost-effective and ecologically friendly. The average cost for a traditional solar installation is $10,000 per kilowatt of capacity. Kalahari's Tri-Brid system is approximately half the price, for the same amount of power.
Consumers who install solar energy systems (including solar water heating and solar electric systems), small wind systems, geothermal heat pumps, and residential fuel cell and micro-turbine systems can receive a 30% tax credit for systems placed in service before December 31, 2016; the previous tax credit cap no longer applies (Source: ).
Robert Matthews of Kalahari Greentech states, "$7,600 will pay for 4 collectors over 88 square feet which will produce 4 kilowatts on an average solar day between 10:30 am and 2:30 pm. With an estimated retail price of $6,000 to $9,000 depending on output, current incentives may reduce the unit cost to the consumer in the range of $4,000 to $6,000. Many states have even more incentives, thereby increasing customer savings. By utilizing a more efficient solar collector than traditional designs, Kalahari expects its units to be both smaller and less expensive than what is currently on the market, especially when common household needs such as water heating are involved."
Gunther Than, President of Kalahari Greentech, states, "If used only for electric power generation, the Solar Tri-Brid will pay for itself in a little over 3 years. Providing hot water is an added optional benefit of the system that will allow consumers to save on household gas and electric expenses."
The trend toward renewable sources of energy is growing. "Renewables accounted for 60% of newly installed capacity in Europe and more than 50% in the USA in 2009" (Source: ).
More information can be found on the company's website, .
About Kalahari Greentech, Inc.: Kalahari Greentech Inc. is an energy company focused on developing, constructing and operating wind and solar energy projects, either on its own or in partnership with other energy companies. The company's main focus is to seek out opportunities to utilize its technology to develop renewable energy sources.
Forward Looking Statements: This press release contains certain forward-looking statements. Investors are cautioned that certain statements in this release are "forward looking statements" and involve both known and unknown risks, uncertainties and other factors. Such uncertainties include, among others, certain risks associated with the operation of the company described above. The Company's actual results could differ materially from expected results.
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