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heating system outright and the option to purchase only the
energy generated by the heating system. If petitioner chose to
purchase the heating system outright, Mercury Solar would require
payment in full for the installed heating system, and petitioner
would be responsible for all repairs beyond the company contract.
If petitioner chose to purchase only the energy generated by the
heating system, Mercury Solar would sell the heating system to an
environmental group which, in turn, would sell the energy to
petitioner in exchange for his monthly payments. This option
would provide petitioner with a longer warranty and service
period than an outright purchase would provide. After reviewing
his options, petitioner, in November 1995, opted to purchase only
the energy generated by the heating system because of the low
cost and the warranty with service.
After petitioner decided to enter into an energy purchase
agreement, Mr. Miskowiec drafted a proposal, dated November 2,
1995, for petitioner’s heating system, and he submitted the
proposal to Mercury Solar and to Hawaii Environmental Holdings
(HEH), an environmental group, for their review. The proposal
indicated that HEH’s total investment would be $5,131 and that
its total direct cost would be $2,218. The proposal also
referenced a Federal tax credit of $513, a State tax credit of
$1,750, and an unexplained amount of $650 labeled “H.E.H”. Both
Mercury Solar and HEH accepted the proposal.
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