XsunX, Inc. (OTCBB:XSNX), the developer of advanced, thin-film photovoltaic (TFPV) solar cell technologies and manufacturing processes, updates its shareholders on new stimulus funds available from the U.S. government to the clean energy sector.
Since November, the White House and the Department of Energy (DOE) have announced billions of dollars in new funding as part of their clean energy stimulus plan, plus an additional $710 million in loan guarantees. The additional DOE money includes $1.7 billion for Energy Efficiency & Renewable Energy and $620 million in smart grid/storage awards.
In early January, the Administration announced $2.3 billion in Advanced Energy Manufacturing Tax Credits available through the Recovery Act for clean energy manufacturing projects throughout the U.S., including nearly $900 million for solar and smart grid projects alone. According to Treasury Secretary Tim Geithner, the tax credits have been matched with more than $5 billion in private sector capital, further driving growth in the sector.
To view the Administrations press release announcing the tax credits, click here:
In addition to the tremendous support and opportunities offered by the U.S. government, there are numerous other policy measures that have already been enacted and are waiting implementation around the world, said Tom Djokovich, CEO, XsunX, Inc. What we are seeing in the early stages of 2010 is an inflection point, where broad support to begin implementation of previously enacted policy is occurring in the U.S., China, and other regions. The benefit to the solar sector is as meaningful adoption occurs it helps to further reduce the cost of underlying technologies and help to continue to move the sector toward economic parity with traditional power and energy solutions.
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