Energy Industry Update: July 20, 2009 FERC Seeks to Accelerate Deployment of Smart Grid Technology
ALISO VIEJO, Calif., July 22, 2009 XsunX, Inc. (OTCBB:XSNX) an established solar company, notifies its shareholders that on July 16, 2009, the Federal Energy Regulatory Commission (“FERC”) issued its Policy Statement on smart grid technologies. The policy provides guidelines on the development of key operational standards and implements rate policy that will allow for cost recovery on installation, a key factor necessary to attract investment and spur deployment of renewable energy infrastructure.
An applicant seeking cost recovery must make four demonstrations:
- The smart grid facilities must advance the modernization of the nation’s electricity transmission and distribution to securely and reliably meet future demand growth;
- The deployed technology will maintain compliance with FERC-approved Reliability Standards such that grid cybersecurity will not be compromised;
- The applicant has minimized the risk of stranded investment by relying on existing, widely-adopted interoperability standards and technologies that are readily and quickly upgradable; and
- The applicant must share with the Department of Energy Smart Grid Clearinghouse the same information required by the Department of Energy for its grant program.
The FERC policy on smart grid technologies is an important development on the roadmap towards alternative and diverse sources of energy. It will to create jobs, open vast new areas to deploy wind and solar power production fields increasing the supply of clean energy, and reduce carbon emissions and the dependence on carbon based fuels, which are all aligned with the goals of XsunX, said Tom Djokovich CEO, XsunX.
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Safe Harbor Statement: Matters discussed in this news letter contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words anticipate, believe, estimate, may, intend, expect and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company.
