Legend Power's Ontario Market Potential More Than Triples
BURNABY, BC, May 10 /CNW/ - Legend Power Systems Inc. (TSX-V: LPS) (FSE: XLE) ("Legend Power") advises that as of April 14th 2010, the Ontario Power Authority substantially increased their conservation incentive funding across the entire province of Ontario for non-lighting technologies such as the Electrical Harmonizer-AVR, more than tripling both Legend Power's incentive funding in the regions outside Metro Toronto and the company's addressable market size.
The Electricity Retrofit Incentive Program, better known as ERIP, has increased incentive funding to $800/kW from $250/kW for non-lighting measures. This program, while funded by the Ontario Power Authority, is executed and administered by Local Distribution Companies (LDCs) throughout the province. This funding increase now allows our customers outside of the 416 exchange to achieve a three year or better payback in qualified facilities on the purchase of Legend Power's smart grid technology.
About Legend Power Systems Inc.
Legend Power Systems Inc. (www.legendpower.com) is a leading electrical energy conservation company that manufactures and markets a patented device to help commercial and industrial customers achieve significant energy savings through voltage optimization. Legend Power's Electrical Harmonizer-AVR helps companies reduce their electricity bills, maintenance costs, and increases the life of electrical equipment, while contributing to a reduction in green house gas emissions. View "Legend Power Corporate Video" on YouTube at http://www.youtube.com/watch?v=EcBIFsXZTIA.
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SOURCE Legend Power Systems Inc.
For further information: For further information: Gerry Gill, Chairman & CEO, Legend Power Systems Inc., (604) 420-1500, email@example.com