EVSO: Expanded Capital Tax Relief Could Benefit Solar Industry

Evolution Solar Corp. (PinkSheets:EVSO) cheered a White House proposal on Wednesday to increase the capital expenditure tax break to 100 percent and extend it through 2011.

The proposal was announced as part of the President’s three-pronged economic plan designed to increase infrastructure spending and encourage new jobs. In addition to allowing companies to fully deduct the cost of equipment including solar panels, the plan also includes provisions to rebuild America’s roads, bridges and runways and to expand, simplify and make permanent the Research and Experimentation Tax Credit, which could help spur further research into more cost-effective solar tech.

“A key barrier preventing solar power from truly competing with energy derived from fossil fuels is the fixed cost of installation,” said Robert Hines, President of Evolution Solar. “If the federal government approves a tax credit for capital expenditures, solar companies can begin to level the playing field.”

In 2008 and 2009, companies could deduct 50 percent of equipment costs by claiming them as bonus depreciation. Wednesday’s new White House proposal would increase that capital expenditure tax break to 100 percent through 2011. Evolution Solar expects that the tax credit will make upgrading to solar technology a more affordable proposition for U.S. companies, helping to boost the domestic solar panel industry, Hines said.

Evolution Solar is currently building a solar demonstration site in partnership with Texas Southern University, to be located at the University's Houston Campus. Evolution Solar has recently completed construction on a solar demonstration project in the City of Brookshire, Texas. These projects should help Evolution Solar acquire new business in a sector that is growing to compete in the energy industry, which includes BP (NYSE: BP), Exxon Mobile Corp. (NYSE: XOM), PetroChina Co. Ltd. (NYSE: PTR) and Chevron Corp. (NYSE: CVX).

About Evolution Solar Corporation

Evolution Solar Corporation, (EVSO), commercializes leading edge alternative solar energy technologies and related photovoltaic technologies, equipment and next generation appliances. Evolution Solar is an emerging industry leader capitalizing on its understanding of solar technology and supporting the development of alternative energy plans for large corporations and government organizations. Evolution Solar is also an expert consultant agency to organizations in their strategic and procurement plans for alternative energy contracts with public utilities.

For more information, visit http://www.evolutionsolar.com.

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Evolution Solar (CE) (USOTC:EVSO)
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