Evolution Solar Enters Bidding Process for Transit Authority's Projects

June 26, 2008 9:00 AM EDT

GILBERT, Ariz.--(BUSINESS WIRE)--

Evolution Solar Corp. (OTC: EVSO) has entered into the bidding process to deliver the first 34 kilowatts of solar energy for a North American municipal transit authority. Over ten such energy projects are scheduled from the transit authority.

"The United States currently generates less than 0.1% of its electricity through solar energy," Mr. Kaapke explained. "However, a new study by Clean Edge and Co-op America shows that the US could be 10% solar by 2025."

The Energy Information Administration predicts world energy demand will grow 50% by the year 2030.

Thin-film production accounts for just 11 percent of worldwide production, but it plays a much more important part of the US PV industry -- roughly 30 percent. The US has about half of global thin-film capacity, which is fast approaching cost parity with other forms of energy.

Almost all major PV manufacturers continue to expand production. First Solar's (NASDAQ: FSLR) expansion in Malaysia will help push its annual capacity to 1 gigawatt by the end of 2009. SunPower (NASDAQ: SPWR) of California has added more than 625-megawatt capacity at its Philippines facility, while Applied Materials (NASDAQ: AMAT) has moved aggressively into the sector in the past few years. Germany's SolarWorld is aiming to reach 500-megawatt production by 2010.

About Evolution Solar Corporation

Evolution Solar Corporation (OTC: EVSO) commercializes leading edge alternative solar energy technologies and related photovoltaic technologies, equipment and next generation appliances. Evolution Solar is an emerging industry leader capitalizing on its understanding of solar technology and supporting the development of alternative energy plans for large corporations and government organizations. Evolution Solar is also an expert consultant agency to organizations in their strategic and procurement plans for alternative energy contracts with public utilities. For more information please visit our homepage at: http://www.evolutionsolar.com.

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 "believes," "expects," "anticipate" 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.

Source: Evolution Solar Corporation

Related Categories

Press Releases

Stocks Mentioned

Add Your Comment

Name

Subject

Body

Verification can't see the text?
click here to refresh the image.
what's this?