GSLO: Skyrocketing Oil Prices Highlight Need for New Solar Development
April 01 2011 - 9:00AM
Business Wire
GoSolarUSA President and CEO Tyson Rohde said today that the
ongoing turmoil in the Middle East and skyrocketing oil prices
highlight the need for more clean and abundant solar energy
development across the globe.
Revolutionary uprisings in Egypt, Bahrain, Libya and elsewhere
have weakened the global crude oil supply chain, sending prices
spiraling upwards to highs not seen since the onset of the global
recession in 2008. High prices combined with environmental concerns
in the wake of last year’s Gulf oil spill are increasing solar
technology’s value as a viable alternative to fossil fuels.
“Rising oil prices represent a significant burden on an economy
still struggling to recover from a global financial meltdown,”
Rohde said. “The silver lining, of course, is that spiraling costs
refocus the world on the need to develop alternatives to
increasingly expensive fossil fuels. Solar power represents a
clean, limitless supply of energy that can help reduce the risk of
environmental disasters such as last year’s BP disaster, and solar
power grows closer to achieving price parity with fossil fuels
every day.”
Earlier this week, President Barrack Obama outlined his plan for
American energy independence, calling for a 33-percent decrease in
imported oil over the next decade. Obama argued that the most
recent jump in prices provided a new incentive for his energy
initiatives, which include increasing solar energy production and
electric vehicle usage.
“Public support for solar power and other green energy
technologies has never been higher,” Rohde said. “Recent events
have really underscored some of the drawbacks to traditional energy
sources such as nuclear and fossil fuels. The world’s
ever-increasing energy demands cannot be served by fossil fuels
alone, and we believe that solar power will play a substantial role
in America’s energy future.”
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 may allow GoSolarUSA to successfully compete in a global
marketplace, which includes LDK Solar Co., Ltd. (NYSE:LDK), 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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