Clear Skies Solar, Inc. (OTCBB:CSKH), a full-service renewable energy provider to commercial, industrial, and agricultural clients, today announced a significant restructuring of its balance sheet with nearly all convertible debt being cleared from the balance sheet. This event marks the end of the financial arrangement resulting from the financial market crisis of 2008 and 2009. As a result of this restructuring, Clear Skies Solar plans to aggressively accelerate its business model.

The financial groups that invested in Clear Skies Solar notes have now converted or agreed to convert the vast majority of their notes into common stock and they have also surrendered all of their existing warrants for cancellation.  This resulted in the removal of all liens on corporate assets and other restrictions on our activities. This event enables the corporation to have significantly increased flexibility in the financing of future projects allowing for acceleration in project implementations.

"Now that we have survived the worst 2009 had to offer, we have rebounded by completing several projects in the first quarter of 2010 and are now working on several other projects, with the previously issued guidance of $16 million in revenue for 2010 still intact," said Ezra Green, Clear Skies Solar CEO. "We want to thank the financial groups that provided us with important financing during the past difficult periods. Now that we have concluded negotiations with these groups, which has resulted in nearly all convertible debt being removed from the balance sheet and the cancellation of warrants, we are now in a position to move forward clearly and aggressively with no further encumbrances. Our convertible debt obligation currently stands at only $58,000, which will likely also be paid off or converted over the short term. We have started aggressively executing our business model and look forward to consistently bringing good news to our shareholders, starting in the very near future. We are clearly excited about our business moving forward and appreciate the support we have received from all of our investors."

About Clear Skies Solar, Inc.

Clear Skies Solar, Inc. (CSS) through its wholly-owned subsidiary provides full-service renewable energy solutions to commercial, industrial, and agricultural clients across the country. CSS was incorporated in 2003 and launched formal operations in 2005. During that time period, CSS developed its proprietary systems, obtained licenses and certifications, and acquired technologies that could maximize the impact of its construction expertise in the renewable energy sector. CSS has become one of the premier solar electric installation companies in the country. For more information about CSS, please visit http://www.clearskiessolar.com.

The Clear Skies Solar, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7498

CONTACT:  Clear Skies Solar, Inc. 
          Investor Relations Department
          1-877-309-CSKH (2754)
          IR@ClearSkiesSolar.com