GSLO: Industry Analyst Predicts 50% Drop in Solar Project Costs

GoSolarUSA (PinkSheets:GSLO) was buoyed on Tuesday by an energy industry researcher’s prediction that the cost of developing a solar power project will fall by half worldwide in the next decade.

Michael Liebreich, chairman of Bloomberg New Energy Finance, said at a conference in New York that the cost of large solar photovoltaic projects, which currently average $3.02 per watt, will decline to $1.45 per watt by 2020. It was a welcome prediction for an emerging industry still struggling to wrest market share away from cheaper fossil-fuel and nuclear energy companies.

“The most powerful driver in our industry is the relentless reduction of costs,” Liebreich said. “In a decade the cost of solar projects is going to halve again.” Many experts agree that continued innovation will also be required to reduce costs on the scale New Energy Finance suggests.

Green energy companies such as GoSolarUSA are not the only ones striving towards price parity between solar power and fossil-based electricity. Earlier this year, the U.S. Department of Energy announced its new SunShot initiative designed to increase the efficiency of solar manufacturing processes, optimize the performance of solar installations and streamline the permitting process for solar projects. The initiative’s goal is ambitious: reducing the total costs of photovoltaic solar energy systems by 75 percent over the next decade.

“For the U.S. to regain a position of leadership in the global solar market, government support will be an absolute necessity,” said GSLO President and CEO Tyson Rohde. “Eliminating solar soft costs and permitting delays is an ideal first step in helping to make solar power a viable alternative in this country, and we’re pleased that the current administration is showing signs that it agrees.”

GoSolarUSA is dedicated to funding the development of new solar technologies such as the Volt Solar Charger, a battery pack accessory that utilizes a built-in photovoltaic solar cell to double the talk time of current Apple iPhone models using renewable energy. The initial manufacturing run of the Volt Solar Charger is nearing completion in China.

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 BP (NYSE:BP), Exxon Mobile Corp. (NYSE:XOM), Royal Dutch Shell (NYSE:RDS-B) and Total S.A. (NYSE:TOT).

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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