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Evolution Solar Sees Bright Future As Senate Approves Solar Tax Incentives

Posted on: Thursday, 25 September 2008, 09:00 CDT

Evolution Solar Corp's (OTC:EVSO) future looks very bright as the Senate approves an $18 billion energy package. Solar reaps the greatest benefit from the energy package extending a 30% tax credit for businesses an additional 8 years while wind generated electricity only received a 1 year extension. The Senate's passage alone pushed First Solar (NYSE:FSLR) stock up 10.91 or (5.17%), Evergreen Solar (NASDAQ:ESLR) gained 7.83% to close at 6.20 up .45 for the day,Energy Conversion Devices (NASDAQ:ENER) closed the day up 7.33 (12.98%) at 63.79 while SunPower (NASDAQ:SPWR) ended the session up 5.79 (6.62%) to 93.30."The bill therefore opens the door to vastly greater domestic adoption of solar power within the residential and utility markets," Molchanov from Reuters wrote."We think this is a good bill that will not only benefit the large utilities and solar companies but will help to make solar more affordable for the home owner with up to a $4,000.00 tax credit in addition to state incentives", quoted Robert Kaapke CEO of Evolution Solar Corp. According to Navigant Consulting Inc. the solar tax credit extension will create 440,000 permanent jobs in the United States and generate $232 billion in new investment.

About Evolution Solar Corporation

Evolution Solar Corporation, (OTC: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 our homepage at: http://www.evolutionsolar.com

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes,""expects,""anticipate" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone's past success, either financial or strategic, is no guarantee of future success. This news release speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof.

Source: Business Wire

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