SOURCE: Solar Energy Initiatives

Solar Energy Initiatives

March 04, 2011 07:00 ET

Solar Energy Initiatives, Inc. Streamlines Its Business Model

PONTE VEDRA BEACH, FL--(Marketwire - March 4, 2011) - Solar Energy Initiatives, Inc. (OTCBB: SNRY), with business in solar project development, today announced that the Company has streamlined its business model to focus on building solar projects for municipalities and other commercial-scale projects.

Solar Energy Initiatives, Inc., together with its Funding Partners, will be dedicated to providing a no "out-of-pocket" solution for municipalities that wish to "go green" while also reducing their costs and helping the U.S. reduce its dependency on foreign oil. This win-win situation allows the municipality to lock in rates for electricity over a long period with no out-of-pocket expenses; it allows the utility provider to secure a source of renewable energy while adhering to directives for a percentage of energy to come from renewable sources. The Company profits by receiving developer fees, EPC contracts and in some cases owning a percentage of the solar array securing a long-term recurring revenue source.

In an effort to become more efficient and profitable, the company has closed its non-profitable Solar Distribution Center division and has sold its Solar Installation Training School business.

David Fann, CEO of Solar Energy Initiatives, Inc., stated, "This streamlining will allow our company to reduce overhead and focus our resources on the projects that have the most potential for both near and long-term revenue streams, while at the same time providing renewable energy sources for municipalities across the country, thereby reducing reliance on fossil fuels while creating jobs."

About Solar Energy Initiatives, Inc.

Solar Energy Initiatives, Inc. (OTCBB: SNRY) is a developer of solar photovoltaic installations. These services are provided through its wholly owned subsidiary, SNRY Power, who is a developer and manager of municipal and commercial scale solar projects. For more information please visit http://www.solarenergy-us.com/.

Contact Information

  • Contact Information
    Solar Energy Initiatives, Inc.
    David Fann
    CEO
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    Investor Relations:
    Crystal Mountain Communications
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