Energy Conversion Devices (ENER) Responds To Recent Solar Integrated Technologies' U.S. Project Outlook
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Energy Conversion Devices (Nasdaq: ENER) commented on recent statements by Solar Integrated Technologies (SIT), regarding the cancellation or delay of certain of SIT's projects in the United States due to uncertainty regarding the U.S. Investment Tax Credit.
"Our business remains strong, and there has been no change to our fundamentals," said Mark Morelli ECD's president and CEO. "Our largest market opportunities are currently in Europe where there is strong demand for our building-integrated (BIPV) solar product. Germany, Italy, France, and now Spain are growth markets for us. The announced changes in SIT's business do not affect our positive growth outlook."
"As we've stated in the past, we continue to believe that the U.S. market has tremendous potential for our products. We believe that the continuation of the Investment Tax Credit is an immediate step for the development of a vibrant U.S. solar market," said Morelli.
Energy Conversion Devices is the leader in building integrated and commercial rooftop photovoltaics, one of the fastest growing segments of the solar power industry.
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