XsunX Identifies Vast Growth Potential in Community Solar Market
Aliso Viejo, CA – May 6, 2015 – XsunX, Inc. (OTC: XSNX), a leading solar power solutions provider, commented today on a recent report published by The National Renewable Energy Laboratory on the potential impact of community solar, disclosing data and predictions related to key drivers for adoption, as well as economic ramifications.
The report, entitled “Shared Solar: Current Landscape, Market Potential, and the Impact of Federal Securities Regulation,” highlights key findings related to community solar, or “shared solar,” the practice of implementing solar technologies in ideal locations, and allowing local businesses or residents to subscribe to the system. Those subscribers would then receive power and/or monetary compensation through what can best be described as joint leasing, and even have the potential to own individual solar panels through the system installation. In summary, the report “provides a high-level overview of the current U.S. shared solar landscape and the impact that a given shared solar program’s structure has on requiring federal securities oversight, as well as an estimate of market potential for U.S. shared solar deployment.”
Commercial applications represent a high growth area for community solar. The report states that approximately 48% of businesses are unable to access solar solutions, due in large part to either insufficient roof space or too many establishments within a property, such as a strip mall or shopping center. The report states that “If federal, state, and local policies can institute a supportive regulatory environment, shared solar presents an area of tremendous potential growth for solar photovoltaics” and that as a result of adoption from both residential and commercial markets, “shared solar could represent 32%–49% of the distributed PV market in 2020.” This statistic could potentially translate to PV growth of 5.5GW – 11GW from 2015 to 2020, achieving $8.2 to $16.3 billon in cumulative investment.
The concept is also attractive to utility providers, who historically have positioned themselves as wary with respect to solar distribution. An article published by EarthTechling.com cites community solar as a “cost-effective way to appease customer demand for more solar, keeping the utility in the game with their customers in a way rooftop doesn’t.” California, which passed a community solar bill in 2013, is considered a pioneer for the growing trend, targeting 600 megawatts of solar energy through three major utility providers, including Southern California Edison and San Diego Gas & Electric. XsunX believes this widespread adoption in its home state, as well as the rest of the country, will provide only further potential for market share among premier solar power solutions providers.
“We are encouraged by the growing potential for shared solar among both utility providers as well as customers,” said Tom Djokovich, CEO of XsunX, Inc. “The timing for this sector’s growth could not be better, as the Company believes it has both the technical know-how as well as operational infrastructure to best educate and garner potential customers in the commercial sector to invest in shared solar networks. We see this as an opportunity to build both short and longer term revenues through expanded customer relationships.”
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