EVSO: U.S. Solar Installations Expected to Double in 2010

Evolution Solar Corp. (PinkSheets:EVSO) cheered a new report on Thursday that claims new solar power installations in the U.S. this year could double the capacity installed in 2009.

The Solar Energy Industries Association and GTM Research released the report at Solar Power International, a conference and trade show in Los Angeles. The U.S. Solar Market Insight report compiled data from the first half of 2010, which forecasts that the domestic solar industry could achieve a new milestone this year by installing a gigawatt of new capacity by year’s end. That figure would more than double the 441 megawatts added in 2009.

“This report just confirms what we already know: that solar energy is gaining traction in the United States,” said EVSO President and CEO Robert Hines. “Now that U.S. public policy has become stable and friendly towards solar, more and more people are taking a serious look at this revolutionary technology.”

The domestic solar industry has avoided the malaise plaguing the overall economy thanks in part to an federal investment tax credit for renewable energy that will stay in place through the end of 2016. Unsurprisingly, California led states in solar capacity added in the first six months of 2010, followed by New Jersey, Arizona and Florida.

“Due to ever-improving solar technology, the costs associated with generating electricity using photovoltaic panels are becoming increasingly affordable,” Hines said. “We expect that the price gap between solar power and power generated from traditional fuels will continue to narrow. The development of a cleaner, more efficient and renewable energy industry is already creating thousands of jobs across the country.”

In Houston, Evolution Solar is partnering with Texas Southern University to install eight AmpleSun thin-film photovoltaic panels on the campus that are intended to serve as a cornerstone of the new TSU Green Technology Center. The project will be Evolution Solar’s first array featuring the AmpleSun panels in the U.S. The company also 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 First Solar (NASDAQ: FSLR), Exxon Mobile Corp. (NYSE: XOM) Altera Corp. (NASDQ: ALTR) and Xilinx, Inc. (NASDAQ: XLNX).

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, please visit http://www.evolutionsolar.com.

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