SOURCE: Solar Energy Initiatives, Inc.

Solar Energy Initiatives, Inc.

May 17, 2010 10:07 ET

Solar Energy Initiatives Announces Record Revenue From Solar Panel Sales

Solar Panel Sales Division Reaches Profitability

PONTE VEDRA BEACH, FL--(Marketwire - May 17, 2010) -  Solar Energy Initiatives, Inc. (OTCBB: SNRY), with businesses in solar project development, distribution and workforce training, announced today the Company's SNRY Solar Inc. division has recorded solar panel revenue for the month of April. The thirty day total of $358,000 represents sequential monthly growth of 85%. The company also reached profitability within the solar panel division. The recently established SNRY Solar concentrates on selling both solar thermal and solar photovoltaic systems as well as the managing of solar thermal government contracts.

"I am extremely pleased with the financial success that SNRY Solar is experiencing with both top and bottom-line growth," stated Mr. Eric Johnson, President of SNRY Solar Inc. "This success is a direct result of our ability to leverage our broad relationships with many core manufacturers, our loyal and dedicated dealer network, and the support our sales and technical personnel provide to make sales across the country. We will continue to aggressively target markets that are affected by recent clean energy government rebates and mandates in order to continue our recent financial success. Going forward we will remain dedicated to achieving our goals of providing best in class dealer support while expanding our geographic footprint, increasing earnings, and improving shareholder value."

About Solar Energy Initiatives, Inc.
Solar Energy Initiatives, Inc. (OTCBB: SNRY) d-b-a SNRY Solar, is a diversified provider of solar solutions with three principal operating groups focused on large-scale projects, solar education and distribution of solar products. The Project Services Group (PSG) is a developer and manager of municipal and commercial scale solar projects. The SolarEos Group is dedicated to the education and continuous improvement of solar energy trade professionals. The Integrated Supply Group (ISG) is a wholesale distributor of branded photovoltaic and thermal (water heating) systems selling via a network of dealers throughout the United States and the Caribbean. Solar Energy Initiatives also owns SolarEnergy.com, one of the most visited solar websites on the internet and a digital property committed to driving consumer traffic, while serving as a platform for awareness of the benefits of solar and a source of business lead generation to SNRY Solar's channel partners. Through its diversified portfolio of solar businesses, SNRY Solar is committed to restoring the nation's economy through a grassroots campaign called "Renew the Nation." Renew the Nation brings together a broad alliance of public and private sector interests focused on workforce development, job creation and economic growth through solar energy. For more information please visit http://www.solarenergy.com/.

Contact Information

  • Contact:

    Investors:
    Solar Energy Initiatives, Inc.
    David Fann
    Chief Executive Officer
    904-644-6090
    Email Contact

    Alliance Advisors, LLC
    Chris Camarra or Bryan Kobel
    212-398-3487
    Email Contact

    Media:
    Solar Energy Initiatives, Inc.
    Chris Wirth
    Chief Marketing Officer
    904-644-6090
    Email Contact