XsunX Sees Accelerating Sales in Lucrative Southern California Solar Market
liso Viejo, CA – June 24, 2014 – XsunX, Inc. (OTCQB: XSNX), a leading solar energy solutions provider, today announced that its expanded sales force and new financing options have resulted in accelerating the pace of sales and the number of solar system proposals in the company’s sales pipeline.
“The level of interest we are seeing in commercial solar systems is quite extraordinary,” stated XsunX CEO, Tom Djokovich. “In June alone we added over 1-megawatt of commercial solar system proposals to our sales pipeline totaling over $3 million, and that’s just the beginning of what we see as increasing business opportunities through the expansion of our commercial systems sales force.”
Central to the company’s sales efforts has been the addition of multiple financing programs designed to offer clients options tailored to their needs. Mr. Djokovich continued, “Initially, we offered a zero down loan program that worked for some customers, but we were seeing a substantial amount of potential business left on the table because we could not match clients’ cash-flow needs with system finance options. To overcome this challenge, we now offer access to a range of programs in addition to our zero down loan program such as lease-to-own, PACE and Hero property tax assessment financing, and power purchase options for non-profits.”
Helping to fuel the company’s growing success in the commercial solar systems market are the increasing efforts of businesses to control and reduce their energy costs. These efforts are fueled by a number of factors, including:
- The California Public Utility Commission’s (CPUC) recent approval for rate increases of as much as 50% for large commercial users
- Increasing cost for natural gas used to produce about 60% of power generated in California
- The loss of 2.2 GW of power production from the shutdown of the San Onofre Nuclear Power Plant coupled with increasing competition and demand for power in the state
- The anticipation of higher energy costs under California’s new AB32 cap-and-trade laws known as the Global Warming Solutions Act.
“With nearly all indicators pointing toward substantially higher electricity costs, it’s only natural that businesses are beginning to see investments in solar energy as a wise decision with excellent returns,” concluded Djokovich.
XsunX provides solar energy solutions that provide the greatest bottom-line financial benefits to businesses. Our background and experience spans virtually all aspects of solar, including technology assessment, design and development. We have a deep passion for solar and have worked to pioneer new technologies and solar solutions that make solar power an affordable energy option. For more information, please visit our website at www.xsunx.com.
Safe Harbor Statement
Matters discussed in this release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts included in this press release are forward-looking statements. These statements relate to future events or to the Company’s future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown, uncertainties and other factors which are, in some cases, beyond the Company’s control which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Company’s current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. Such risks, uncertainties and other factors, which could impact the Company and the forward-looking statements contained herein, are included in the Company’s filings with the Securities and Exchange Commission. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
Tom Djokovich, President and CEO