GSLO: New Bipartisan Solar Panel Bill Aims to Slash Consumer Costs

GoSolarUSA (Stock Ticker: GSLO) announced its support this week for ambitious new legislation aimed at dramatically cutting consumer costs for solar panels.

The bipartisan bill, known as the 10 Million Solar Roofs Act of 2011, was introduced Monday by Sens. Bernie Sanders (I-Vt.) and John Boozman (R-Ark.) would lower the cost of residential solar panels, as well as commercial solar installations, by streamlining the application and permitting process. If passed, the legislation would offer grants and subsidies to communities that adopt quicker and more efficient methods of installing solar panels as well as lower the cost of residential and commercial solar installations by streamlining the application and permitting process.

Some estimates indicate that the legislation could trim as much as $2,500 from the current consumer cost of solar panels.

“As we lower the cost of solar energy and increase our use of solar, we can create hundreds of thousands of good-paying manufacturing and installation jobs in this country,” said Sen. Bernie Sanders in a prepared statement.“This bill also sets strong targets for American solar energy production, to ensure we compete vigorously with China and Europe for solar energy jobs.”

While photovoltaic solar module prices and installation costs have come down significantly in recent years, the so-called soft costs of solar installations, which include permitting, coding, legal and regulatory costs, have remained high. The new bill seeks to streamline and standardize those processes to make solar installation cheaper and easier.

“The 10 Million Solar Roofs Act would be a terrific shot in the arm for the domestic solar industry, which is already one of the fastest-growing in America,” said GSLO President and CEO Tyson Rohde. “With federal support, solar power is rapidly becoming a realistic option for more and more Americans.

“The demand for solar is already high, and by reducing installation costs, Congress can help eliminate carbon emissions and create thousands of new green-collar jobs.”

GoSolarUSA is positioned to capitalize on the rising demand and falling costs for photovoltaic solar power. Late last month, a GSLO agent met with Houston City Councilman Jarvis Johnson regarding possible green energy solutions for municipal properties in his district. GSLO has targeted Houston for new business opportunities due to the city’s great potential for large-scale solar energy developments. Johnson’s District B includes several large municipal properties well-suited for renewable energy projects such as solar panel installations.

GoSolarUSA aggressively acquires, develops and markets the most promising and potentially profitable green technology available. The GoSolarUSA mission is to manifest cutting-edge solar technology and manufacturing advances to successfully compete in a global marketplace, which includes ReneSola Ltd. (NYSE:SOL), JA Solar (NASDAQ: JASO), Canadian Solar Inc. (NASDAQ: CSIQ) (NYSE:STP) 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 also ensures the quality and availability of our products. GSLO is endeavoring to advance clean American solar technology to compete in the global energy industry. GoSolarUSA is a U.S. 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,” “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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