The headline above was something we wanted to share with investors this week.
This headline was published Tuesday by Greentech Media Research and outlines some incredible statistics showing solar installations rapidly increasing from installing one system about every 80 minutes back in 2006 to one every 4 ½ minutes today, with expectations being that by 2016, there will be one installed about every minute and a half. No matter how you look at it, this is impressive growth and helps strengthen the entire PV industry here in the USA.
However, the speculation for even greater opportunity did not stop there this week. During the National Clean Energy Summit, sponsored by Senate Majority Leader Harry Reid, industry professionals called for a Western States-Wide increase in the use of renewables setting 51% as a minimum goal for energy production utilizing renewable sources, up from a goal of about 30% today. There is a lot of work that has to be done by the industry to achieve that goal, but as one speaker noted, "cost is no longer a primary objection to renewables."
Two of our most active customers are located in regions where we are seeing similar growth opportunities. In the Middle East and North Africa (MENA) regions, there are efforts by governments to amend their regulatory frameworks and embark on privatization of the energy networks.
What is driving these policy change efforts? In order to prepare for the future, developing regions require large amounts of external funding to ensure that their respective energy industries are capable of resonding to an estimated 6.4% compounded annual growth in power demand. By privatizing, they create profitable opportunities for investors, which is to the advantage of our customers who have been working with their governments to capitalize on these changes and attract new investments.
So how does this good industry news relate to XsunX? We recently announced that XsunX was expanding operations to include additional services that include everything from PV factory planning and start-up requirements to solar power field project planning and installations. With these additional capabilities, we are responding to changes in the market and addressing the requirements from our prospective customers.
While the aforementioned PV growth opinions and statistics are not set in stone (and there are plenty more incredible growth projections being published lately), the industry appears to be hitting the re-set button as it climbs out of the damage caused by the past several years of oversupply and instability. Here at XsunX, we are focused on adapting to evolving customer needs and doing what is necessary to profit from these new opportunities.
Thanks for your time and have a great weekend.
Tom Djokovich, CEO
To learn more about XsunX's' breakthrough technology please visit https://xsunx.com.
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