GSLO: Dept. of Energy Aims to Slash Solar Costs by 75%

Domestic solar energy companies such as GoSolarUSA (PinkSheets:GSLO) and its competitors stand to benefit from a new U.S. Department of Energy initiative aimed at reducing the total costs of photovoltaic solar energy systems by about 75 percent over the next decade.

The SunShot initiative focuses on four areas: increasing the efficiency of the solar manufacturing process, optimizing the performance of the installation, improving solar PV technologies and streamlining the permitting process. The goal of the initiative is to achieve price parity between solar electricity and fossil-based electricity by the end of the decade. Reaching that goal could re-establish American technological leadership, improve the nation's energy security, and strengthen U.S. economic competitiveness in the global clean energy race, said GSLO President and CEO Tyson Rohde.

“We’re pleased the DOE is taking an ambitious approach to improving the U.S.’s global solar competitiveness,” Rohde said. “Eliminating solar soft costs and permitting delays in particular promises to be a great boon for the domestic solar industry.”

The SunShot initiative seeks to bring down solar costs to $1 per watt installed, said U.S. Energy Secretary Steven Chu on Saturday.

“The US is in a race for the future,” Chu said. “The SunShot goal will help win the clean energy race and reduce the cost of solar by 75 percent.”

By making solar power competitive with fossil fuels, SunShot could restore America’s once-dominant position in the global market for solar photovoltaics (PV), which has dwindled from 43 percent in 1995 to only six percent today.

GoSolarUSA is doing its part to create new innovations in the solar energy sector by funding the development of technologies such as the Volt Solar Charger, a battery pack that utilizes solar cells to charge wireless devices using renewable energy sources.

“Innovations such as the Volt Solar Charger that make solar energy part of everyday power usage are what continue to drive the solar industry’s growth,” Rohde said.

GoSolarUSA is dedicated to aggressively acquiring, developing and marketing the most promising and potentially profitable technology available. Tech innovations such as the Volt Solar Charger allow GoSolarUSA to successfully compete in a global marketplace, which includes Trina Solar (NYSE:TSL), JA Solar (NASDAQ:JASO) NVIDIA Corp. (NASDAQ:NVDA) and First Solar Inc. (NASDAQ:FSLR).

About GoSolarUSA, Inc.

GoSolarUSA primarily identifies and develops new solar energy technologies in the United States. We believe this not only creates high-quality jobs in America, but it ensures the quality and availability of our products. GSLO is endeavoring to advance clean American solar technology to compete in an energy industry that includes stalwarts such as First Solar. GoSolarUSA is a US registered and reporting OTCQB market tier company.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words “should,” “will,” “plans,” “believes,” “expects,” “aims,” “anticipates” or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone's past success, either financial or strategic, is no guarantee of future success. This news release speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof.

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