SOURCE: XsunX, Inc.

XsunX, Inc.

November 02, 2017 08:30 ET

XsunX Project Channel Sees Future Boost Potential from USITC Trade Remedy Recommendations

United States International Trade Commission (USITC) Offers Trade Remedies Far Below Anticipated Levels

ALISO VIEJO, CA--(Marketwired - Nov 2, 2017) - XsunX, Inc. (OTC PINK: XSNX), a leading solar and energy saving technologies provider, announced today that a much-anticipated recommendation by the USITC offers encouraging news for growth in US solar industry.

With the potential for looming import duties on certain imported solar cells and assembled solar modules, XsunX has seen its access to a broad range of manufacturers and economically priced product narrow over the past several months. Now, with the USITC's member recommendations outlining a four-year plan with duties declining 5%/yr., and initiating far less than what the industry had feared, the Company sees access and costs to improve which bodes well for current and future projects.

"After the trade commission's recommendations were released Tuesday, we reached out to some of our vendors who were elated by the news," stated Tom Djokovich, CEO of XsunX, Inc. "While the recommendations now need to be finalized by the current administration, we see the commission's opinion as a validation that the solar industry represents a diverse and large sector for job growth important to the US economy," continued Mr. Djokovich, CEO of XsunX, Inc.

The request for the tariff was initially presented by two US based module manufacturers with foreign ties requesting import duties to be set that would establish significantly higher import cost for assembled solar modules. Under the USITC's average recommendation of a 30% duty, and assuming a current West Coast imported module cost of $0.38/watt, the application of a 30% duty would suggest a module cost at about $0.49/watt.

"As recent as 2016, the Company's cost for modules on some projects exceeded where we anticipate module costs will be in 2018 under the proposal and we were still able to present economically advantageous solar investment proposals to clients," stated Tom Djokovich, CEO of XsunX, Inc. "At the same time, our balance of system costs have continued to decline and we anticipate continuing to offer exceptionally advantageous investment options to our customers," concluded Mr. Djokovich, CEO of XsunX, Inc.

About XsunX:

XsunX specializes in the sale, design, and installation of solar photovoltaic power generation (PV), and energy saving technologies to provide our clients long term savings, predictability, and control of their energy costs. Making solar energy a sound investment for our clients is our mission.

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 or home 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. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such 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

  • Contact:
    Tom Djokovich
    President and CEO
    888-797-4527
    email: info@xsunx.com