Renewable Energy and Power Inc (RBNW)

[Charlize Dakota]

RBNW: NEWS

Renewable Energy and Power Launches Texas Energy Efficiency Utility of Rebate InitiativeFont size: A | A | A
7:30 AM ET 4/11/18 | GlobeNewswire
Renewable Energy and Power Launches Texas Energy Efficiency Utility of Rebate Initiative

Goal to become approved distributor for Texas utilities allowing instant rebates for customers of our Interior and Exterior LED products

N. Las Vegas, NV. , April 11, 2018 (GLOBE NEWSWIRE) -- Renewable Energy and Power (OTC: RBNW), a U.S.-based lighting innovation company today announced initiating approval as Project Sponsors in the Public Utility Commission of Texas "standard offer" and market transformation programs available to Texas electrical utility customers.

Advantages for consumers

As required by state legislation, Texas utilities contract with Project Sponsors - independent, third-party service providers, responsible for implementation of residential and commercial energy efficiency measures.

Project Sponsors receive incentive payments from the Transmission & Distribution Utilities (TDUs) for the measures that result in peak

demand reductions and energy savings. Project Sponsors include energy service companies, contractors, retail electric providers, national or local companies that provide energy-related products, and product retailers who provide installation services.

Hundreds of millions available

The programs are funded through a systems benefits charge on transmission and distribution services and are administered by the utilities. Altogether, several hundred million dollars are available for energy efficient programs in Texas

Renewable Energy and Power's Texas sales team's initial focus will be the major metropolitan areas served by Oncor, for both the Dallas/Ft. Worth and Midland/Odessa regions, CenterPoint for Houston, and AEP Texas in the Corpus Christi/Brownsville area