25 June 2014

XsunX sees accelerating sales in Southern California solar market

XsunX Inc of Aliso Viejo, CA, USA, which is developing hybrid copper indium gallium (di)selenide thin-film (CIGS) photovoltaic (TFPV) cell technologies and ‘CIGSolar’ manufacturing processes, says that its expanded sales force and new financing options have resulted in accelerating the pace of sales and the number of solar system proposals in its sales pipeline.

“In June alone we added over 1MW of commercial solar system proposals to our sales pipeline totaling over $3m, and that's just the beginning of what we see as increasing business opportunities through the expansion of our commercial systems sales force,” says CEO Tom Djokovich.

Central to the firm’s sales efforts has been the addition of multiple financing programs designed to offer clients options tailored to their needs. “Initially, we offered a zero down loan program that worked for some customers, but we were seeing a substantial amount of potential business left on the table because we could not match clients’ cash-flow needs with system finance options,” Djokovich says. “To overcome this challenge, we now offer access to a range of programs in addition to our zero down loan program, such as lease-to-own, PACE and Hero property tax assessment financing, and power purchase options for non-profits.”

Helping to fuel the company's growing success in the commercial solar systems market are the increasing efforts of businesses to control and reduce their energy costs. These efforts are fueled by a number of factors, including:

• the California Public Utility Commission's (CPUC) recent approval for rate increases of as much as 50% for large commercial users;

• increasing cost for natural gas (used to produce about 60% of power generated in California);

• the loss of 2.2GW of power production from the shutdown of the San Onofre Nuclear Power Plant, coupled with increasing competition and demand for power in the state;

• the anticipation of higher energy costs under California’s new AB32 cap-and-trade laws (known as the Global Warming Solutions Act).

“With nearly all indicators pointing toward substantially higher electricity costs, it's only natural that businesses are beginning to see investments in solar energy as a wise decision with excellent returns,” Djokovich states.

See related items:

XsunX grows revenue; sees increased sales of new solar systems and meets gross margin target

XsunX aims to grow monthly systems sales and installations to 1MW in Southern California in 2014

Tags: XsunX CIGS

Visit: www.xsunx.com