Clear Skies Enters Eastern Massachusetts
2011-09-14 06:00 ET - News Release
MINEOLA, N.Y., Sept. 14, 2011 (GLOBE NEWSWIRE) -- Clear Skies Solar, Inc. (CSS) (OTCBB:CSKH), a full-service national renewable energy provider has today announced their entry into the New England region's residential and commercial markets.
Due to the dynamic nature of the fragmented US solar industry, we must choose carefully which markets we enter. After diligently evaluating the Massachusetts market, we decided to enter this market utilizing the same model that was successfully executed in New Jersey. We expect our Massachusetts sales program to have a high level of success based on the stability of the MA Renewable Energy Credits (REC's) market. REC's are derived from the production of electricity via non-fossil fuel means. In Massachusetts, this gives each kilowatt hour produced a value of not less than $0.30 but currently a value at $ 0.52 on the spot market. This "floor" is slated to last for ten years adding a unique level of security to both private as well as institutional investors.
CSS test marketed the program for Massachusetts in August 2011 with positive results. Already CSS has signed contracts for over $1 million worth of projects in Massachusetts. "As we grow our sales force and our brand in Massachusetts, we expect this rapid pace of growth to continue. We look forward to tremendous success in this market due in large part to the REC market structure in Massachusetts which was designed with a price floor to bolster investor confidence by providing a safeguard against any major downturns in the market. Additionally, we will continue to seek out new markets and opportunities as they open up in the months and years to come," said Ezra Green, CEO of Clear Skies Solar.
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