Commercial & Residential Solar Solutions

Energy Industry Update: April 27, 2010 on California Solar Initiative (CSI)

XsunX, Inc. (OTCBB:XSNX), the developer of advanced, thin-film photovoltaic (TFPV) solar cell technologies and manufacturing processes, updates its shareholders on the Californias Solar Initiative (CSI).

For more than 10 years now, the Golden State has offered solar rebates through a campaign called Go Solar California that includes programs like the California Solar Initiative (CSI); with this policy, customers in California’s investor-owned utility territories (i.e. Pacific Gas & Electric , Southern California Edison , and San Diego Gas & Electric ) can request a rebate from the state of between $1.10 and $1.90 per watt of installed capacity, depending on location.

Because of this program and Californias aggressive Renewable Portfolio Standard, the state has become the nations most progressive market for the adoption of solar power. By 2017, California hopes to reach a goal of nearly 2 gigawatts (GW) of solar installed under the CSI.

The CSI is an excellent policy measure for other states to model, said Tom Djokovich, CEO, XsunX, Inc. Reports are saying applications for the CSI are running 91% ahead of the pace set in 2009, which not only shows the progress and success of the program but an economic recovery as well. In terms of MW, total applications in 2010 are said to have reached 166 MW compared to 87MW in the same period in 2009.

In March, Californians set a monthly record for the states solar program by applying to put more than 50 megawatts (MW) of panels on their homes and businesses. The spike was caused partially by two of the three utilities involved in the program lessening their incentives, prompting a total of 2,355 customers to reserve the CSI incentive.

Even with the utilities decreasing their incentive offerings, California offers an attractive package for those looking to go green, added Tom. Here at XsunX we see this industry as still in the early stages of a very long term growth cycle that will see continued variations to incentive plans. As demand continues to grow what consumers will need is better technology to service their needs. Thats why we are working hard to complete our development and go to market with what we believe will be very relevant new CIGS thin film solar technology.  

Tom Djokovich, CEO

Safe Harbor Statement: Matters discussed in this shareholder news letter contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this shareholder news letter, 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.

Related posts

XsunX Newsletter

Good Morning, September was an important month for us. We have been busy working...

XsunX Newsletter

Good Morning and Happy New Year, We hope the holidays were great for everyone....

XsunX Newsletter

Good Morning, In our last newsletter, we outlined that the start-up and calibration of...

XsunX Newsletter

Good Morning, Excellent progress and good news continues to follow us into November.  As...

XsunX Newsletter

Good Morning, This CIGSolar® tool build update provides the successful completion of a significant...

XsunX Newsletter

Good Morning, Although we have been very busy on the shop floor working on...

XsunX Newsletter

Good Morning, Last week XsunX provided shareholders and customers with news that it is...

XsunX Newsletter

Good Morning, Over the last few weeks, re-assembly and testing of the major CIGSolarTM...

XsunX Newsletter

Good Morning, With the delivery of the CIGSolarTM system to the new facility in...

XsunX Newsletter

Hope your 4th of July was packed with good times, Here at XsunX, July...

Leave a Comment

Leave a Reply