SSLR: $100 Billion Energy Stimulus Thrusts Alternative Energy to the Top
SAN ANTONIO----Sunrise Solar Corp. (OTCBB:SSLR). The U.S. government is set to spend nearly $100 billion to push America’s energy industry toward solar and other clean energy sources as part of its energy stimulus. The nearly $800 billion stimulus bill, working its way through the House and Senate, contains tax incentives for solar installation as well as incentives for job creation in solar energy companies.
The combination of this two prong stimulus for solar is expected to make solar a strong growth sector in the next two years as businesses and homeowners take advantage of these tax incentives. The current proposal includes incentives for manufactures as well as a 30% tax credit for solar energy installation. The current cap on this tax credit would be removed under the current proposal.
“We are excited to see the push to drive investment in solar energy at the top of American agenda,” noted Eddie Austin, Chairman and CEO of Sunrise Solar Corp. “Experts expect this to stimulate rapid growth in solar power as consumers and businesses see these grants and tax credits as a great opportunity to go green on a budget.”
Rep. Mike Thompson, of Montana, stated, “The solar energy tax provisions I authored will make it easier for businesses and homeowners to have solar panels installed. This has the twin benefits of creating green jobs while at the same time reducing our dependence on foreign oil.”
With groups like SunPower (NASDAQ:SPWRA) building a new 25-megawatt plant for Florida Power & Light Company and San Francisco’s Pacific Gas & Electric (NYSE:PCG) which has announced plans to add 106.8 MW of solar thermal-biofuel hybrid power to its renewable energy portfolio, solar is moving into the mainstream of America’s energy equation.
About Sunrise Solar Corporation
Sunrise Solar Corporation intends to commercialize and distribute cutting edge alternative solar energy technologies and equipment. Sunrise also intends to capitalize on its institutional knowledge of emerging alternative energy technologies to develop comprehensive alternative energy plans. Sunrise Solar common stock is traded under the symbol SSLR. For more information please visit http://www.sunrisesolarcorp.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.
Contacts Sunrise Solar CorporationEddie Austin, 210-881-0850
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SNRY Announces Major Distribution Agreement
SNRY announced today an agreement with the largest private solar system in Northeast Florida, K Power. Being named the Preferred Supplier for K Power, a division of The Dana B. Kenyon Construction Company, for all its solar electric and solar thermal equipment to commercial and solar farm projects.
Solar projects in the northeast of Florida have just received the nation's first feed=in tariff for new solar photovoltaic systems, providing further impetus for expansion in the region.
SNRY's now has immediate access to, via distribution agreements within it's dealer networks, with BP Solar and GE Solar. GE Solar and BP Solar are two of the largest solar companies, allowing SNRY to be very aggressive with pricing when bidding on future contracts.
I've posted about SNRY before, this new announcement confirms the Company's strong growth prospects. They have announced a $6M run rate by fiscal year end 2009, and by 2010 they expect to be on a run rate of $21M.
Additionally, SNRY owns one of the most valuable commodities in the industry-it's web domain or www.solarenergy.com. This alone has an extremely high marketing value!
Obama and his administration continues to focus on growing alternative energies, and SNRY is a MACRO play on the growth of the entire industry. Solar industry grows-SNRY grows. It's that simple. Review this chance before it's too late.
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