Two Italian solar HVAC companies launch joint U.S. venture
According to Massimo Galli, KU Solar’s chief operating officer, “Over the last five years, we have participated in the evolution of the world-wide renewable energy business. In Italy, which has become the largest solar market in the world, we have earned a leadership position because of our recognized expertise. Our business approach enables us to enter the North American market with a proven solar cooling and heating solution that performs. We intend to make the appropriate investments in our Kansas City operations to ensure our dealers and installers receive the highest quality of support and are successful.”
“Kansas City was chosen to locate this business because of its ability to support our supply chain, leadership in green building, a growing solar industry, and access to a technical and after-sales assistance network,” said Galli.
Solar HVAC systems use solar thermal collectors which are designed to take energy from the sun and produce a cooling effect in the summer and a heating effect in the winter. These systems can eliminate the increasing cost of purchasing of electricity and natural gas to power conventional HVAC equipment. In addition, these systems are eligible for the 30% Federal Investment Tax Credit and Modified Accelerated Cost-Recovery System (MACRS) and Bonus Depreciation. Other financial incentives may be available depending upon location. ROI ranges from four to eight years and depends upon local utility rates and incentives, according to the manufacturers.