Source: Trading Markets
Evolution Solar announced the Energy Committee of the United States Senate approved Sen. Bernie Sanders' (I-Vt.) Ten Million Solar Roofs legislation.
According to a release, the Bill is designed to encourage the installation of 10 million solar systems over ten years.
As currently written, the measure would authorize $250 million for competitive grants in 2012 and additional funding through 2021. According to the Department of Energy, the Bill (when added to existing incentives) could meet or even exceed the goal over the ten year period.
According to Sen. Sanders, the legislation would help finance the installation of up to 40,000 Megawatts of new solar energy. He said that in the process, the cost of generating solar power would fall and the US would become the world's leading market for electricity generated from the sun.
"We at Evolution Solar are watching the progress of Senator Sanders' legislations closely," said Robert Hines, President of EVSO. "If this Bill becomes law, it would be one of the most significant boosts to help solar energy augment fossil fuels in the US and could elevate the US to the leader in the solar energy proliferation."
Evolution Solar is currently building a solar demonstration site in partnership with Texas Southern University, to be located at the University's Houston Campus. The project should help Evolution Solar acquire new business in a sector that is growing to compete in the energy industry
, which includes Transocean, SandRidge Energy, BP and Apache Corporation.
Evolution Solar Corporation commercializes alternative solar energy technologies and related photovoltaic technologies, equipment and next generation appliances.
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