Solar Energy Initiatives, Inc. has unveiled its "Renew the Nation" campaign, intended to promote job growth nationwide via an aggressive grass roots effort. The main focus of Renew the Nation will be working with companies in the construction industry and related trades affected by the economic downturn to re-train and re-deploy their workforce, allowing this important national asset to meet the needs of the Solar Energy industry, the fastest growing industry in the world.
"The Solar Industry will be an integral component to redeploying companies and their work force into the U.S. marketplace. The rapidly growing solar market requires a knowledgeable workforce with expertise in both construction and installation practices," said David Fann, Chief Executive Officer of Solar Energy Initiatives. "Our Solar University can serve as a springboard for companies with a vision for the future. Renew The Nation is our 'call to arms' to rally behind President Obama's stimulus bill and be proactive in creating jobs in our industry. Our goal is to enable 1,000 companies throughout the USA, to install solar on as many residential and commercial rooftops as possible which reduces our dependency on foreign oil and lessens the strain on our electrical grid."
The federal stimulus bill, passed by both the U.S. House of Representatives and Senate on Friday and signed by President Obama on Tuesday, includes more than $30 billion in energy tax breaks, financial incentives, and energy infrastructure projects. This new stimulus bill has a provision that puts solar finance on the fast track for financiers by offering DOE grants as an alternative to the tax credit. To be eligible for the program, the project must commence construction in 2009 or 2010 and be placed in service by 2017. The stimulus plan as it relates to energy greatly enhances Solar Energy Initiatives previously announced strategic growth plan. Management is confident that they can reach the previously announced guidance of $21 million by fiscal year end 2010.
Based on the strategic alliance, the Company's dealer network has access to equipment distribution agreements in place with BP Solar and GE Solar. This allows Solar Energy Initiatives to be competitive from a pricing standpoint with larger solar companies. While Solar Energy does not compete directly with industry giants such as First Solar, Kyocera, Sanyo or Suntech, it provides exciting and practical solutions to businesses and individuals worldwide that understand the value of solar power.
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