Toledo Solar Commences Solar Panel Shipments to Viper Networks for Commercial and Residential Deployment

Rhea-AI Summary

Viper Networks (OTC Pink: VPER) announces the commencement of solar panel shipments from Toledo Solar, enhancing its venture into the U.S. solar energy market. This partnership focuses on the production of durable, CdTe thin film photovoltaic panels, which have a significant environmental advantage and a 25-year warranty. The recent Inflation Reduction Act offers a 30% tax credit for rooftop solar systems, increasing to 40% for American-made panels. Viper Networks is positioning itself to meet the rising demand for renewable energy through a proof-of-concept project in Illinois.

Positive

• Partnership with Toledo Solar for U.S. manufacturing of solar panels.
• First shipment of solar panels set to boost commercial and residential sales.
• Toledo Solar's panels qualify for the 40% investment tax credit, promoting U.S.-made products.
• Significant environmental benefits from using CdTe solar panels.

Negative

• None.

TROY, Mich., Sept. 22, 2022 (GLOBE NEWSWIRE) -- Viper Networks, Inc. (OTC Pink: VPER), an international leader in the LED Street Lights products and integrated Smart Cities systems and solutions markets, is pleased to announce that the Company has started receiving solar panel shipments from Toledo Solar to commence deployment for commercial and residential customers throughout the U.S. market.

As previously announced (6/25/2021), Viper Networks entered into a strategic U.S. manufacturing and partnership agreement with Toledo Solar, Inc. (www.toledo-solar.com), to fortify the Company’s expansion into the American-made solar energy market. Toledo Solar is the only U.S. manufacturer of CdTe thin film photovoltaic (PV) for both residential and commercial rooftop markets. Their frameless, all-glass, hermetically sealed, solar panels are the most durable modules on the market, backed by an industry-leading 25-year warranty.

The first to provide utility-scale power and reliability to rooftop markets, Toledo Solar’s Cadmium Telluride (CdTe) solar panels require significantly less energy to manufacture, the shortest energy payback period and the lowest carbon footprint in the industry. In the utility space, American made, CdTe thin film solar panels have been proven to outperform foreign sourced PV-SI panels in terms of lifetime ROI (Return on Investment) and durability. As a result, they currently power approximately 40% of the American utility market and 8% of the worldwide market.

Thin-film CdTe panels are 100% recycled with over 90% of all materials reused, whereas silicon panels are mostly scrapped in local landfills, creating a growing hazardous waste problem.

The historic $739 billion ‘Inflation Reduction Act’ recently signed into law by President Biden, provides for $369 billion in Climate & Energy Investments. One of the most valuable green energy incentives included in the legislation is the 10-year extension of a federal tax credit that reduces the cost of installing a rooftop solar system by 30%, and up to 40% if the panels are Fully Made in America. Notably, Toledo Solar’s panels are currently the only panels to qualify for the 40% ITC credit (available through 2032) that applies to solar panels that are fully made in America.

According to the Biden administration, in Florida alone more than 1.1 million households will use the credit to install rooftop solar systems over the next decade, as recently reported by the South Florida Sun Sentinel newspaper.

Mr. Farid Shouekani, CEO and President of Viper Networks, Inc., commented: “The world is changing and Viper Networks is gearing up for the rapidly increasing demand for renewable energy. Our manufacturing partnership with industry leader Toledo Solar is quickly evolving as we are now in the process of staging a major proof-of-concept project with them for our EcoTech Solutions operations in Illinois, which we acquired last February.”

Mr. Aaron Bates, CEO at Toledo Solar, Inc., stated: “We are proud to help lead America’s rebirth in solar manufacturing by building utility-grade, CdTe PV solar technology panels for the residential and commercial markets. From day one, we have pledged to deliver the highest quality solar solutions while also maintaining the highest ethical standards. Our impressive team of skilled workers is entirely based at our rapidly growing factory in Ohio, where we have always sourced our components from suppliers with strict ESG controls.”

For more information go to https://toledo-solar.com and www.ViperNetworks.com or follow us on Twitter @vipernetworks

Safe Harbor Statement:
This news release contains "forward-looking statements" as that term is defined in Section 27A of the U.S. Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Statements in this release which are not historical are forward-looking and include any statements regarding beliefs, expectations or intentions regarding the future. Such statements are not guaranteeing of future performance and actual results may differ materially from those predicted and should not be considered an indication of future performance. Potential risks and uncertainties include the Company's operating history, resources, economic, competitive, and equity market conditions.

Investor Relations/Media Contact: SAG Equity Group, Greater Orlando / 407.444.5959

FAQ

What recent development has Viper Networks (VPER) announced regarding solar panels?

Viper Networks announced the start of solar panel shipments from Toledo Solar to support its U.S. solar energy market expansion.

How does the Inflation Reduction Act affect Viper Networks (VPER)?

The Inflation Reduction Act provides a 30% tax credit for installing rooftop solar systems, increasing to 40% for panels made in America, which benefits Viper Networks' partnership with Toledo Solar.

What are the key advantages of the solar panels from Toledo Solar?

Toledo Solar's CdTe thin film photovoltaic panels are durable, environmentally friendly, and come with a 25-year warranty, making them suitable for residential and commercial markets.