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IQE

7 January 2014

XsunX ends 2013 with cash deposit and system lender purchase order

XsunX Inc of Aliso Viejo, CA, USA, which is developing hybrid copper indium gallium (di)selenide thin-film (CIGS) photovoltaic (TFPV) cell technologies and ‘CIGSolar’ manufacturing processes, has provided business development updates to its solar power project development and installation services, and its outlook for growth through these services in 2014.

In mid-October the firm announced a business expansion to include the sales, design and installation of solar PV systems to commercial facilities in California - statistically the largest and fastest growing solar market in the USA. XsunX subsequently provided several progress updates including announcing initial sales agreements for solar PV system installations. Now it says that, before 2013 ended, it also received payment for PV project-related invoicing that it had sent out, and one project lender issued its purchase order for another PV system under contract.

The overall process from start to completion and final payment can vary, but in general most commercial projects will take 4-6 weeks to complete, at which point XsunX would typically book the revenue, the firm believes. Planning, permitting and getting the local utility to complete their work is where the majority of time required can come into play, it adds.

Marketing efforts are producing results, the firm claims. Despite the recent holiday period, XsunX saw business and commercial property owners from Ventura to Los Angeles and Riverside calling for quotes, it adds, with five quote requests and one on-site customer visit occurring in just one day alone.

“Now that we have had some time to sense the level of response from our target customer group, our goal in 2014 is to grow our commercial and industrial PV systems design and installation business to at least 1MW of new system sales per month,” says the firm. “What we are finding is that many commercial projects will require 100kW or more in PV system sizing. So, in general it would take about 10 system sales per month to meet our goal,” it adds. “We are now gearing up to meet the demand and we will be looking to expand our sales response capabilities to maintain a focus on providing the most responsive services.”

See related items:

XsunX aims to grow monthly systems sales and installations to 1MW in Southern California in 2014

XsunX adds 20kW commercial PV system sale in Southern California; now offering $1m project financing

Tags: XsunX CIGS

Visit: www.xsunx.com

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