GSLO: Industry Analyst Predicts 50% Drop in Solar Project Costs
April 06 2011 - 9:00AM
Business Wire
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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