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Technological Advancements and Lower Prices Bolster Solar Energy Initiatives, Inc.'s Business Model

Posted on: Tuesday, 14 October 2008, 09:00 CDT

PONTE VEDRA BEACH, Fla., Oct. 14 /PRNewswire-FirstCall/ -- Solar Energy Initiatives, Inc. (BULLETIN BOARD: SNRY) announced today that their business model and operational strategy is set to meet and exceed 2008 forecasts. Given recent changes in the solar market, the Company feels ideally placed to move forward with an aggressive plan for 2009.

In an article on StreetInsider.com on October 7, 2008, Goldman Sachs said an oversupply of solar products will drive pricing strongly downward. Further, BP Solar announced it was canceling a planned $67 Million solar panel facility due to competitive pressures and new Asian entrants. Greg Bakeman, CFO for Solar Energy Initiatives, Inc., states, "We concur with Goldman's assessment of oversupply leading to lower solar product costs. This is fundamental to our business plan as we source solar manufacturers worldwide who can provide the lowest cost components for our growing dealer network."

According to Brad Holt, CEO for Solar Energy Initiatives, Inc., "The manufacturers of solar energy products are currently experiencing fluctuations in the cost and availability of silicon, a major element in the production of first generation solar products. The availability of silicon is going up, making increased production possible, an important factor leading to the coming oversupply of solar panels. In addition, thin-film solar production is expected to double in each of the next three years to reach 4.18 gigawatts worth of equipment in 2010, according to a report released by Greentech Media and the Prometheus Institute in early September, 2008. With the addition of new emerging technologies, we are in the driver's seat to lower costs for our dealers and solar park projects. We can adapt to, and profit from, the changing market in solar panel design and cost. This enables us to deliver 'best of class' products to our customers, simultaneously lowering their costs while we maintain our profit margins. This is the main reason we are a supplier and not a manufacturer."

About Solar Energy Initiatives, Inc.

Solar Energy Initiatives, Inc. -- (http://www.solarenergy.com/) is dedicated to reducing the world's dependence on fossil fuels by selling solar thermal and photovoltaic (PV) technologies, while building a profitable company. We are executing on a three pronged approach to achieve our plan. This includes: continuing development of the fastest growing dealer network in the U.S. that sells and installs solar solutions to homeowners and commercial customers; placing solar systems on large commercial buildings and selling the energy output to the owner/occupant(s); and becoming a developer of solar parks bringing together landowners, utilities and our corporate resources to build large photovoltaic installations.

Matters discussed in this press release contain forward looking statements as defined under the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward looking statements involve risk and uncertainties, which could significantly impact the actual results, performance or achievements of the Company. Such risks and uncertainties include, but are not limited to: the time frame for production of revenue; product development and commercial introduction; the impact of rapid price and technological change and competition; manufacturing and supply uncertainties; and other risks as may be detailed from time to time in the Company's periodic reports filed with the Securities & Exchange Commission.

Solar Energy Initiatives, Inc.

CONTACT: David Fann, Director, david.fann@solarenergy.com, or Brad Holt,Chief Executive Officer, brad.holt@solarenergy.com, or Greg Bakeman, ChiefFinancial Officer, greg.bakeman@solarenergy.com, all of Solar EnergyInitiatives, Inc., +1-904-280-2669

Web site: http://www.solarenergy.com/

Source: PRNewswire-FirstCall

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