<font> Solar Energy Initiatives, Inc. was founded to execute a grass roots campaign, “RENEW THE NATION”, to help redeploy a portion of the U.S. work force while reducing the world’s dependence on fossil fuels. The company’s business is focused on integrating and selling solar thermal and photovoltaic technologies, while building a profitable company. </font>
<font> Solar Energy Initiatives is committed to a multi-pronged approach to achieve its corporate goals. This approach includes: continuing development of one of the fastest growing dealer networks in the U.S.; solar education and technical training to the private and public sectors, placing solar systems on large commercial buildings and selling the energy output to the owner/occupant(s) through Solar Power Purchase Agreements (PPAs), and becoming a developer of solar parks. </font>
<font> The company has rapidly expanded its dealership network, bringing many newly trained solar contractors to the expanding marketplace. Solar Energy Initiatives’ primary focus is on providing wholesale solar equipment to its network of dealers who perform installations. For do-it-yourselfers and hobbyists, it also offers a wide selection of solar equipment and systems via an online “shopping cart”. </font>
<font> With an extensive background in solar energy, the company’s team and affiliates have the experience necessary to provide technical sizing, support, equipment-matching and sourcing to supply required equipment for nearly any residential or commercial solar project. Management believes the company’s rapid growth will persist throughout the foreseeable future as it continues to expand on an already impressive pipeline. </font>
Solar Energy Initiatives (SNRY.OB) – Harnessing the Power of the Sun
Solar Energy Initiatives Inc. is dedicated to reducing the world’s dependence on fossil fuels by selling thermal and photovoltaic (PV) technologies while building a profitable company. To this end, they are developing one of the fastest growing dealer networks in the U.S. to sell and install solar solutions to homeowners as well as commercial customers.
The company recognizes that energy from the sun can be used in different ways. Most obvious is the sun’s light, which is used everywhere, via windows, skylights, and solar tubes. But the sun’s thermal energy has been used for a long time for passive solar room heating, hot water and pool heating. And improving technology has now led to an increasing use of the sun’s energy to generate electricity, not only in large solar power plants, but at the individual home and business level.
It’s important to remember that the addition of PV or other solar technologies to a residential or commercial building is greatly enhanced by ensuring that energy efficiencies are already in place. Buildings (homes and businesses) consume two-thirds of all electricity generated in the U.S. Today, structures are being built with an eye on energy efficiency, using more advanced heating and cooling systems and appliances, better insulation, and superior windows and doors. The U.S. Green Building Council’s Leadership in Energy and Environmental Design (LEED) sets guidelines that many builders are embracing. Any reduction in building energy requirements helps reduce the size (and cost) of solar installations.
Although solar water heating systems have been around for years, photovoltaic (PV) systems are relatively new. PV systems use semiconductors and sunlight to generate electricity directly from the sun. The more solar modules being used, the more electricity will be generated. The direct current (DC) electricity generated by PV systems can be inverted to produce standard AC current for use in homes and businesses. Systems can be tied into the overall power grid, allowing any surplus electricity to be “sold” to the grid, reducing or even eliminating user electricity bills. Battery backup systems are available so that electricity generated when the system is on can be captured for use when the grid goes down.
Solar Energy Initiatives, Inc. (SNRY.OB) Secures Land to Build a 100 Megawatt Solar Park
Solar Energy Initiatives, Inc. announced this morning before the opening bell that the company’s wholly owned subsidiary, Solar Park Initiatives, signed a contract to secure land for the design, construction and operation of a solar park in California. Solar Park Initiatives will be responsible for providing engineering, permitting, construction, operations and maintenance as well as obtaining the financing of the solar park, while Solar Energy Initiatives will procure the solar panels and balance of system for the project.
According to the press release, Solar Park Initiatives will begin preliminary work, including zoning, permitting, EPA approvals and other activities, immediately with construction expected to begin late next year. The contract possesses a 25 year life with additional renewal options. The 100 megawatt project will be constructed in various increments over a three year time frame.
“This endeavor represents strong validation that Solar Energy Initiatives and Solar Park Initiatives’ synergistic relationship is extremely capable of securing large scale contracts and expanding market presence,” stated, David Fann, Chief Executive Officer of Solar Energy Initiatives. “We believe that as Solar Energy Initiatives and Solar Park Initiatives continue to grow as market leaders and establish credibility with municipalities and landowners that both companies will secure additional contracts, increase our earnings and achieve our primary goal of improved shareholder value. Combined with our previously announced solar park in Western Texas we now have a combined 400 megawatts worth of projects that will begin in the next eighteen months.”
Mr. Michael Gorton, Chief Executive Officer of Solar Park Initiatives, commented, “We are pleased with the success we are having in gaining traction with the assistance of SNRY management team. Our priority is to review and attain additional solar park projects as we continue to gain traction as a leading developer of large scale solar parks. We look forward to implementing this large revenue contract and have several others we will be announcing in the near future.”
Solar Park Initiatives is a recent spin-off of Solar Energy Initiatives. Investors that hold SNRY shares, as of October 15, 2009, will receive one common share of Solar Park Initiatives, Inc. for every two common shares of SNRY owned. The transaction is cash and tax free for all SNRY shareholders.
Solar Energy Initiatives, Inc. (SNRY.OB) Appoints Mr. Thomas Polich as Chief Operating Officer
Solar Energy Initiatives, Inc., a company focused on executing its corporate mission to Renew The Nation, creating economic development through the sale and installation of Solar Thermal, Photovoltaic (PV) and other Solar technologies, this morning announced Mr. Thomas A. Polich, Esq. has joined the senior management team as Chief Operating Officer.
As COO, Mr. Polich will be responsible for managing the strategic development of distribution and sales networks and solar power projects. He will also lead the streamlining of all operational procedures for near and mid-term markets, commercial, private vendors and suppliers, and enhance the company’s ability to monetize new business in a more efficient manner.
With more than 14 years of working experience in the photovoltaic (PV) industry, covering all aspects of solar cell devices and PV systems, Mr. Polich’s solar experience includes research and development, technology development, manufacturing, legal, finance, training and consulting, domestic and international project development system management, system design and integration, market development and sales management. Most recently he served as VP North American Development of Clairvoyant Energy, Inc. Prior to Clairvoyant, he served as Chief Administrative Officer of Skypoint Solar, Inc., and has also served as Chief Legal Officer of DayStar Technologies, Inc. (NASDAQ/DSTI) and Corporate Counsel for Evergreen Resources, Inc. (NYSE:EVG). Mr. Polich earned a J.D. from the University of Denver, College of Law.
Mr. David Fann, Chief Executive Officer of Solar Energy Initiatives, stated, “Mr. Polich’s extensive background in the photovoltaic (PV) market makes him an excellent asset to our experienced senior management team. SNRY will leverage Mr. Polich’s strong knowledge and existing industry relationships to facilitate growth as an emerging solar company. His streaming of our operations and expertise in the industry will help SNRY in achieving greater market share, increasing earnings and becoming a dominant company within the solar energy market.”
Solar Energy Initiatives, Inc. (SNRY.OB) Announces Signing of Financing Agreement for Municipal Solar Projects
Solar Energy Initiatives, Inc. this morning announced that it has signed a Financing and Joint Marketing Agreement with a Municipal financial services company located in the Western U.S. This agreement mandates that the financial services institution exclusively market Solar Energy Initiatives solar solutions to over 100,000 municipalities.
According to the terms of the agreement, the financial institution will also have the ability to provide project based financing for any contract that it brings to Solar Energy Initiatives. Solar Energy Initiatives receives revenues from the sale of the solar equipment as well as the sale of the generated energy sold to the municipality, recognizing energy sales over a 20–25 year contract period.
“Solar Energy Initiatives is very pleased to have secured a prominent partner in our efforts to RENEW THE NATION and provide solar energy to municipalities throughout the United States,” stated David Fann, Chief Executive Officer of Solar Energy Initiatives. “Being granted exclusive access to a vast amount of potential new projects represents a significant opportunity to our already strong project pipeline. Management is confident that our low cost, high return solar energy solutions coupled with the potential 100,000 additional projects will result in a significant increase of new contract awards in 2010.”
Greg Bakeman, President and Chief Financial Officer, commented, “The potential to secure such a vast amount of new and profitable municipal contracts is a momentous opportunity for the company. SNRY believes that its proven ability to secure similar contracts in the past will allow us to capitalize on this potentially paradigm shifting venture. The Company looks forward to showcasing the benefits of its energy solutions and believes this agreement is a significant step towards increased revenue, expanded market presence and increased shareholder value in the near future.”
Solar Energy Initiatives, Inc. (SNRY.OB) Announces Upcoming Presentation at LD MICRO 2nd Annual Investment Conference
Solar Energy Initiatives, Inc. announced this morning that David Fann, Chief Executive Officer, will be a participant at the LD MICRO 2nd Annual Investment Conference to be held at the Luxe Hotel in Los Angeles, CA on Wednesday, December 3rd, 2009.
Date: Wednesday, December 3rd, 2009
Time: 11:30 am (PST)
Location: Los Angeles, CA
In order for a company to present, they must be invited by LD Micro management. At the conference, in addition to presenting, Solar Energy will also hold one-on-one meetings with investors to discuss the company’s second quarter 2009 financial results and business strategy.
Solar Energy Initiatives, Inc. (SNRY.OB): Grass Roots Solar
These days, solar is one of the most popular words in the green lexicon. You hear it everywhere, with most of the talk focusing on the increasingly large solar power plants that are now being built. New designs have dropped the price of large scale solar electricity generation by over 80% in the last 25 years to a level that is now closing in on standard grid prices. Factoring in government subsidies puts solar over the top and has motivated the current boom in planning and construction. For the first time, solar energy is being taken seriously as a potentially major power source.
But there is another side of solar energy that continues to capture the public’s imagination in ways that large industrial size power plants simply can’t. It’s the grass-roots development of business and home size power generation systems that seem to tap into the average American’s desire for personal energy independence, a freedom from big power and the grid’s tentacle-like hold on the individual. This usually takes the form of two fundamental solar technologies: solar thermal panels used for heating water or air, and solar photovoltaic panels used for the direct on-site generation of electricity.
Solar thermal systems are one of the simplest uses of solar energy, and have been around for a long time. They usually consist of little more than a solar heat collector, consisting of a black colored material designed to heat up by absorbing the suns rays, and a way of transmitting that heat to circulated water or air. Heated water can be used to augment a hot water supply, and heated air can be used to heat a home or building. Hot water systems are most common, and, depending upon where you live, such systems can reduce hot water costs by 50% to 80%, recovering the initial investment within a few years. The use of solar thermal collectors is greatest in Asia, in places like China and India, with Europe a distant second. The U.S. is far down the line, with less than 5% of the collector space of Europe.
Photovoltaics, the conversion of sunlight directly into electrical energy through the use of special materials, is technologically more complex than solar thermal systems, but is currently the world’s fastest growing energy technology, with production doubling every 2 years. The cost of photovoltaic systems has dramatically decreased over the years, and it is now considered likely that the energy costs of photovoltaic systems could roughly match the energy costs of fossil fuel systems within 10 years (and that’s without subsidies.) The leading countries in photovoltaic systems are Germany, Japan, and the U.S.
Below are a few publicly traded stocks directly involved with solar power production, both thermal and photovoltaic.
• Akeena Solar, Inc. (NASDAQ CM: AKNS)
• Ascent Solar (NASDAQ: ASTI)
• DayStar Technologies, Inc. (NASDAQ CM: DSTI)
• Energy Conversion Devices, Inc. (NASDAQ: ENER)
• Evergreen Solar, Inc. (NASDAQ GM: ESLR)
• First Solar, Inc. (NASDAQ GS: FSLR)
• Solar Enertech Corp. (OTCBB: SOEN)
• XSUNX (OTCBB: XSNX)
Solar Energy Initiatives Inc. (OTCBB: SNRY) is one of the best examples of the grass-roots approach to solar, focusing on individual residential and commercial solar projects. SNRY is committed to reducing the world’s dependence on fossil fuels by selling and installing thermal and photovoltaic systems through one of the fastest growing dealer networks in the U.S. Photovoltaic systems can be tied into the overall power grid, allowing surplus electricity to be sold back to the grid, and battery backup can provide power when the system is down. They even offer systems that can be hooked into other energy sources, such as wind or gas-powered generators, providing power at night. Given that the market for such products will only increase as costs continue to decrease, companies like SNRY stand to become big players in what will no doubt be one of the 21st Century’s biggest industries, grass-roots solar power.
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