XsunX Comments on Recent Solar Industry Funding Announcements and Predictions
Aliso Viejo, CA – XsunX, Inc. (OTC: XSNX), a leading solar power solutions provider, commented today on what it perceives to be increasingly positive sentiment displayed by financial institutional as well as well-known technology and utility providers, indicating widespread consideration for solar energy as a viable investment.
Recently, high profile technology companies such as Apple and Google have committed to solar by investing in First Solar Inc., and SolarCity, Corp., respectively. Last month, Apple announced it was partnering with First Solar and investing approximately $850 million toward building a solar farm south of San Francisco. Google made a similar commitment of late, investing $300 million in a SolarCity fund to finance residential solar projects. Duke Energy, the utility company known for coal-intensive energy production, also turned heads last month by investing up to $225 million in REC Solar’s commercial solar projects, adding to Duke Energy Renewables’ existing commercial renewable portfolio.
Much of the consolidation and strategic partnership agreements experienced of late are due to falling costs and the practicality of solar. According to a recent report by Deutsche Bank, solar module costs are expected to fall another 40% over the next four to five years, following a 60% drop from $1.31 per watt in 2011 to $.50 per watt three years later. The report attributes this to lower expenditures associated with installations, increasing sales and customer acquisition, and improving inverter and racking pricing – ultimately predicting solar grid parity in 80% of the global market by 2017.
“We are optimistic that current conditions such as cost reductions and consolidation across the industry will continue to garner retail and institutional investors seeking to add solar to their investment portfolios,” said Tom Djokovich, CEO of XsunX, Inc. “With the growing momentum and opportunities for commercial solar power our team maintains focus on acquiring customers and providing 100% satisfaction, resulting in the organic growth we anticipated in 2015. We are confident that as companies and utility providers add to their solar positions, the industry as a whole will continue to experience growth, drive down costs, and increase overall revenue.”
XsunX provides solar energy solutions that deliver significant bottom-line financial benefits to businesses. We specialize in the sale, design, and installation of commercial solar power systems. The company has developed a highly skilled team of qualified engineering and specialty contractors with extensive commercial solar experience necessary to service the diverse conditions that can be encountered in commercial buildings. We couple this superior design and delivery capability with factory direct pricing, and zero down financing options to provide exceptional solar power investment opportunities for our customers.
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Tom Djokovich, President and CEO