SOURCE: XsunX, Inc

March 11, 2015 08:56 ET

XsunX Comments on Recent Solar Industry Funding Announcements and Predictions

Company Identifies Growing Mainstream Adoption as Companies Such as Apple, Google, and Duke Energy Pursue Solar

ALISO VIEJO, CA--(Marketwired - Mar 11, 2015) - XsunX, Inc. (OTC PINK: XSNX), a leading solar power solutions provider, commented today on what it perceives to be increasingly positive sentiment displayed by financial institutional as well as well-known technology and utility providers, indicating widespread consideration for solar energy as a viable investment.

Recently, high profile technology companies such as Apple and Google have committed to solar by investing in First Solar Inc., and SolarCity, Corp., respectively. Last month, Apple announced it was partnering with First Solar and investing approximately $850 million toward building a solar farm south of San Francisco. Google made a similar commitment of late, investing $300 million in a SolarCity fund to finance residential solar projects. Duke Energy, the utility company known for coal-intensive energy production, also turned heads last month by investing up to $225 million in REC Solar's commercial solar projects, adding to Duke Energy Renewables' existing commercial renewable portfolio.

Much of the consolidation and strategic partnership agreements experienced of late are due to falling costs and the practicality of solar. According to a recent report by Deutsche Bank, solar module costs are expected to fall another 40% over the next four to five years, following a 60% drop from $1.31 per watt in 2011 to $.50 per watt three years later. The report attributes this to lower expenditures associated with installations, increasing sales and customer acquisition, and improving inverter and racking pricing -- ultimately predicting solar grid parity in 80% of the global market by 2017.

"We are optimistic that current conditions such as cost reductions and consolidation across the industry will continue to garner retail and institutional investors seeking to add solar to their investment portfolios," said Tom Djokovich, CEO of XsunX, Inc. "With the growing momentum and opportunities for commercial solar power our team maintains focus on acquiring customers and providing 100% satisfaction, resulting in the organic growth we anticipated in 2015. We are confident that as companies and utility providers add to their solar positions, the industry as a whole will continue to experience growth, drive down costs, and increase overall revenue."

About XsunX
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.

For more information, please visit the Company's website at www.xsunx.com, or to learn more about the benefits of solar energy for your business schedule a free PV project assessment.

Safe Harbor Statement
Matters discussed in this release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts included in this press release are forward-looking statements. These statements relate to future events or to the Company's future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown, uncertainties and other factors which are, in some cases, beyond the Company's control which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Company's current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. Such risks, uncertainties and other factors, which could impact the Company and the forward-looking statements contained herein, are included in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.

Contact Information

  • Company Contact:
    Tom Djokovich
    President and CEO
    949-330-8060
    info@xsunx.com