EVSO Evolution Solar Corporation (CE)

Evolution Solar Corp. (PinkSheets:EVSO) cheered a new report this week that claims that the number of solar photovoltaic installations in North America is likely to double in 2011.

IDC Energy Insights released a new study titled Business Strategy: Trends to Watch as the Rate of North American Solar PV Installations Doubles in 2011 on Tuesday that examines the technological, legislative, and business model trends that will shape the solar photovoltaic (PV) industry in the coming year. Following a strong 2010 that will see around 1 GW of installations in North America, 2011 should bring over 2 GW of new installations across the continent.

“While subsidies undeniably underpin much of this growth, the young solar PV industry has been rapidly innovating in ways that make solar PV systems more cost effective, easier to install, and easier to maintain,” said Jay Holman, lead analyst for IDC Energy Insights' Renewable Energy Strategies program. “While North American installations trail those in Europe, current momentum represents very strong growth for the region.”

If Holman and IDC’s projections for 2011 are proven accurate, the new year will be a continuation of an exponential boom in PV installation in recent years. The gigawatt or so of capacity installed in 2010 more than doubled the 441 megawatts added in 2009.

“Thanks to technological innovation, the costs associated with generating electricity using photovoltaic panels are falling every day,” said EVSO President Robert Hines. “As the PV market continues its tremendous growth over the next year, the price gap between solar power and power generated from traditional fuels will continue to narrow. The evolution of a cleaner, more efficient and renewable energy industry has already created thousands of jobs across the country with many more to come.”

Last month, Evolution Solar sent two cutting-edge solar panels to North Carolina as part of the company’s efforts to enhance the green technology curriculum at Barber-Scotia College’s energy institute. In October, the company partnered with Texas Southern University in Houston to install eight AmpleSun thin-film photovoltaic panels on the campus to serve as a cornerstone of the new TSU Green Technology Center. The project was EVSO’s first array featuring the AmpleSun panels in the U.S. These projects are intended to help Evolution Solar acquire new business in a sector that is growing to compete in the energy industry, which includes First Solar (NASDAQ:FSLR), Altera Corp. (NYSE:ALTR), Trina Solar Ltd. (NYSE:TSL) and JA Solar Holdings Co. (NASDAQ:JASO).

About Evolution Solar Corporation

Evolution Solar Corporation (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 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.

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