The parties would not disclose the financial terms of the agreement, how long it would last for, or how many megawatts worth of modules will be supplied. They did, however, say that the modules will be produced at the manufacturers Milwaukee facility. Arista, meanwhile, will use them both in its own products and for resale.
Additionally, it has been said that Helios will "refer to Arista Power solar opportunities that include an energy storage component" and Arista Power will distribute Helios products to the U.S. military.
Cherrie Mahon, VP of Investor Relations & Corporate Communications for Arista Power tells pv magazine that the company is "excited" to work with Helios as there are mutually beneficial opportunities available. Furthermore, the partnership will help Arista, which is involved in the wind industry, move more into solar.
William Schmitz, CEO of Arista Power added: "We are now partnered with a major global manufacturer of solar panels for use in our stand-alone solar projects, our Power on Demand systems, our Mobile Renewable Power Systems and our other products, particularly for the U.S. Army, Federal Bureau of Investigation and other government customers."
He continued: "I came here to create valuable products that can be sold profitably in large quantities to large customers, like Fortune 500 companies, or the military, or other government agencies. And my expectation is that we will be announcing many of these types of deals as the year goes on."
According to Mahon, the partnership will help to overcome the inconsistency barrier that alternative energies usually hit when it comes to big power producers.
"Wind and solar are intermittent suppliers of energy, and when one isnt working, the other can be and if they both are not working, the energy they produced can be stored. That is why Arista Power has brought on solar and batteries as solutions to offer in our product mix," commented Mahon.
She added that renewable energy is set for exponential growth and that those companies which can offer both energy storage and management, will find themselves with a "very large and growing market for those products".
Power on demand
Arista Power has developed a ‘Power on demand’ system, which is "designed to significantly reduce electric utility demand charges by smoothing out power demand on the grid."
It aims to use energy generated from wind turbines, photovoltaics and/or the grid in combination with a battery storage system and smart monitoring technology. It is currently waiting to be patented.
Mahon said the company is receiving "tremendous interest" in the product and has already sold a few systems.
She said: "The payback on these systems is as low as two to six years, which is far superior to any stand-alone renewable energy system that we are aware of.
"Electric utility demand charges can account for 30 to 70 percent of a commercial electric bill, so when you can reduce those charges significantly while at the same time providing the customer renewable energy, you are providing tremendous value to the customer and shortening the payback period dramatically. Power on Demand is designed to reduce electricity demand charges ( )."