Solar3D Expects Tremendous Industry Growth as Solar Further Distances Itself From the Grid
SANTA BARBARA, CA--(Marketwired - May 12, 2015) - Solar3D, Inc. (SLTD), a leading provider of solar power solutions and the developer of a proprietary high efficiency solar cell, today commented on a recent assessment of the solar industry resulting in the prediction that solar becomes cheaper than retail power by 2018.
The report entitled, "Equal and Opposite…If Solar Wins, Who Loses?", issued by Bernstein Research, indicates that the combined cost of solar, in addition to developing technologies that allow for more efficient storage, will result in falling costs totaling 24 cents per kilowatt hour. A recent Barron's article cites these economic details as compelling, while the report itself states, "New business models will emerge to take advantage of the low cost and improved technology. That scale will help lower costs further. The total number of markets where solar and energy storage will be credible, low-cost alternatives to the grid will continue to increase from there. The good companies in the utility sector will embrace the new technologies quickly…the bad ones won't."
The report concludes with bullish predictions for solar in 2015, citing widespread adoption in countries such as China and India, as well as several developing markets where "opportunity continues to improve as module, inverter and installation costs fall, conversion efficiency improves and volumes increase." The authors of the report believe that these factors, in addition to many others, will result in the energy independence needed to remove current regulatory hurdles that will break the utilities' hold on commercial and residential energy costs.
"This report reflects the beliefs that Solar3D has shared with the public over the last year or so," said Jim Nelson, CEO of Solar3D. "In the past, utility providers around the country, and world, have tended to look for ways to challenge solar. Soon, they will be looking for ways to integrate solar. We believe that our Solar 2.0 business model is representative of the type of economic driver referenced in this report. Our approach to business, as well as the rising demand for solar, will help us achieve revenue growth for the Company and provide long-term value for our shareholders."
About Solar3D, Inc.
Solar3D, a leading provider of solar power solutions, is focused on the design, installation and management of solar power systems for commercial, agricultural and residential customers. Through its wholly owned subsidiaries, Solar3D is one of the fastest growing solar systems providers in California delivering 2.5 kilowatt to multi-megawatt commercial systems. Solar3D's technology division is developing a patent-pending 3-dimensional solar cell technology to maximize the conversion of sunlight into electricity. The Solar3D Cell collects sunlight from a wide angle and lets light bounce around in 3-dimensional microstructures on the solar cell surface. The Company's mission is to further the widespread adoption of solar power by deploying affordable, state-of-the-art systems and developing breakthrough new solar technologies.
To learn more about Solar3D, visit our website at http://www.Solar3D.com.
Safe Harbor Statement
Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These risks include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, products, and prospects for sales, failure to commercialize our technology, failure of technology to perform as expected, failure to earn profit or revenue, higher costs than expected, persistent operating losses, ownership dilution, inability to repay debt, failure of acquired businesses to perform as expected, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company.
