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Tax Credit Extension Ensures Strong Future for Solar Industry

Posted on: Monday, 6 October 2008, 12:00 CDT

Clear Skies Solar, Inc. (OTCBB:CSKH), a leading provider of renewable energy solar solutions, commends Congress for resurrecting the tax credit package that will serve as the lifeblood for the renewable energy industry in the United States. The renewable energy tax credits are seen as a critical step towards bringing the U.S. closer to becoming a progressive leader in the renewable energy industry and competing with the many foreign countries who already have sophisticated renewable energy programs.

"By including the tax credits in the bailout package, Congress not only found a way to promote the development of more cost-effective and efficient sources of energy, but also showed support of U.S. renewable energy companies," said Ezra Green, Chief Executive Officer and Chairman of Clear Skies Solar. "This breathes new life into the entire solar industry and will enable Clear Skies Solar to experience the explosive growth that we had originally anticipated for our company and the industry as a whole."

Industry experts believe that, over the next eight years, the tax credit extension will more than triple investment to greater than $300 billion and almost triple employment in the industry as well.

"Governmental support of renewable energy will not only promote growth in the industry and the use of solar energy, but the financial incentive of tax credits also serves to mitigate the financial markets' perceived risks in investing in these technologies," added Green. "We are glad that Congress found a way to extend these tax credits and look forward to a long and bright future of bringing solar energy to our customers in the Unites States."

Clear Skies Solar is a leading developer of solar energy products and a full-service integration company specializing in the turnkey installation of commercial photovoltaic (PV) solar systems. With offices across the nation from New York to California and overseas in Greece, the company distinguishes its presence in the marketplace through its construction capabilities, pioneering innovation, comprehensive in-house solutions and proprietary technology.

About Clear Skies Solar

Clear Skies Solar, Inc. (CSS) through its wholly owned subsidiary, provides full-service renewable energy solutions to commercial, industrial, and agricultural clients across the country. CSS was incorporated in 2003 and launched formal operations in 2005. During that time period, CSS developed its proprietary systems, obtained licenses and certifications, and acquired technologies that could maximize the impact of its construction expertise on the renewable energy sector. CSS has become one of the premier solar electric installation companies in the country. For more information about CSS, visit www.ClearSkiesSolar.com.

Forward-Looking Statement Disclaimer

Statements in this press release that are not statements of historical or current fact constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the Company's actual operating results to be materially different from any historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements that explicitly describe these risks and uncertainties, readers are urged to consider statements that contain terms such as "believes,""belief,""expects,""expect,""intends,""intend,""anticipate,""anticipates,""plans,""plan," to be uncertain and forward-looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company's filings with Securities and Exchange Commission.

Source: Business Wire

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