Company Sees Cost Fall Despite Recent Tariffs
ALISO VIEJO, CA, July 17, 2018 (GLOBE NEWSWIRE) -- XsunX, Inc. ( OTC: XSNX ) , a leading solar and energy saving technologies provider, announced today that recent reductions to solar module costs are allowing the Company to continue to offer commercial solar rooftop and canopy systems at or below its 2017 pricing.
“In just the last month we’ve seen solar module costs come down by at least 10%,” stated Tom Djokovich, CEO of XsunX, Inc. “For our large commercial system quotes we buy manufacturer direct and this decrease in costs is providing us with the ability to provide customers exceptional value.”
The solar module savings stem from a change to China’s mainland solar project development policy adopted in May 2018 that has forced Tier 1 manufacturers to allocate more module production for U.S. sales. Based on recent discussions with the Company’s module suppliers, XsunX anticipates pricing for solar modules may continue to dip which is good news for XsunX and its customers.
“The reduction to our module costs is very significant for XsunX marketing efforts,” continued Mr. Djokovich. “And, since modules represent the largest portion of project costs, these savings more than offset the recent cost increases stemming from steel import tariffs allowing us to continue to offer exceptionally priced solar canopies – our premier product line,” concluded Mr. Djokovich.
With interest in commercial installations continuing to improve, the Company experienced over $1,000,000 in awarded projects in its last quarter alone. And, over the past two years the Company has broadened its suite of products and general construction services to now include commercial solar car, truck, and storage canopies, energy storage and energy management technologies, EV charging, commercial roofing, and steel canopies for multiple applications.
About XsunX:
XsunX specializes in the sale, design, and installation of solar photovoltaic power generation (PV), energy storage, and energy efficiency technologies to provide our clients long term savings, predictability, and control of their energy costs. Making solar energy a sound investment for our clients is our mission.
For more information, please visit the Company's website at www.xsunx.com , or to learn more about the benefits of solar energy for your business or home schedule a free PV project assessment .
Safe Harbor Statement: Matters discussed in this release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts included in this press release are forward-looking statements. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. These statements relate to future events or to the Company's future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown, uncertainties and other factors which are, in some cases, beyond the Company's control which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Company's current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. Such risks, uncertainties and other factors, which could impact the Company and the forward-looking statements contained herein, are included in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
Contact: Tom Djokovich, President and CEO - 888-797-4527 or email: info@xsunx.com
