Average of 80k New Homes Built Annually in California
ALISO VIEJO, CA, May 15, 2018 (GLOBE NEWSWIRE) -- XsunX, Inc. ( OTC: XSNX ), a leading solar and energy saving technologies provider, updated today that on May 9th the California Energy Commission adopted into the California Code of Regulations (Title 24, Part 6) that commencing in January 2020 all new homes built in California may not be certified for occupancy if solar is not installed.
California has been the largest residential solar market in the U.S., as estimated by the CA Solar + Storage Association, with roughly 150k residential solar installations in the state annually. About 80K new homes are built in California annually and only about 15K of those include solar. Therefore, this new energy code mandate could result in upwards of 65k additional residential solar installations per year, representing a roughly 40% growth relative to the current 150k/year CA residential solar installations.
“CA already represents about 40% of the U.S. residential market for new solar installations, and the potential for a 40% growth in new solar installations in the state is very exciting news,” stated Tom Djokovich, CEO of XsunX, Inc.
This is great news for the California solar market and comes as XsunX has seen an increase in commercial solar interest too. “While XsunX’s focus has been the commercial solar market space, this pending expansion of the residential market is a rising tide for the renewable energy marketplace and offers new opportunities for XsunX in California which is our target market,” concluded Mr. Djokovich.
The California Energy Commission estimates that the new solar energy standards will add about $9,500 to the cost of a new home and save homeowners about $19,000 on energy over 30 years. Economically, the mandate, which is slated to take effect 1/1/2020, is estimated to add about $40/month to a 30-year mortgage and provide new home owners with about $80/month in savings on heating, cooling, and lighting bills.
XsunX specializes in the sale, design, and installation of solar photovoltaic power generation (PV), energy storage, and energy efficiency technologies to provide our clients long term savings, predictability, and control of their energy costs. Making solar energy a sound investment for our clients is our mission.
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Contact: Tom Djokovich, President and CEO - 888-797-4527 or email: firstname.lastname@example.org