SANTA BARBARA, CA--(Marketwired - February 04, 2015) - Solar3D, Inc. (OTCQB: SLTD), a leading provider of solar power solutions and the developer of a proprietary high efficiency solar cell, reported today on the growing market opportunity created by widespread adoption of solar energy to reduce costs and increase efficiencies in the farming industry.
A previously released report from the US Agriculture Census indicated that 57,299 farms in the country were utilizing a form of renewable energy. Of that that total, 63%, or 36,331 farms, reported solar panels, a making it easily the most popular form of renewable energy.
Solar3D continues to benefit from this rapidly growing market. As chronicled by a Sacramento Business Journal article published January 26, Solar3D's operating division, SUNworks, recently announced the planned installation of two large agricultural solar systems. The first, a 893 kW photovoltaic system, is designed for Innovative Produce Inc., in Santa Maria, CA, while the second is for Heidrick & Heidrick Properties in Woodland, CA, a 504 kW installation.
Solar energy in the farming industry is used primarily for generating electricity, as well as heating water and air. Solar-manufactured electricity powers equipment, heats farming infrastructure, and supports lighting and security, while heated water is required for feeding crops and livestock, equipment cleaning, and food processing.
"The agricultural industry is no longer just exploring solar as a potential means of saving energy costs, but actively pursuing the best options for their business," said Jim Nelson, CEO of Solar3D. "This commitment from farmers represents a seismic shift in the traditional way of thinking, and represents a significant sales opportunity for our Company. Our team of highly trained professionals will continue to market to those responsible for putting food on America's tabletops, as we look forward to providing the farms in our sales regions with the best and most affordable solar solutions on the market."
About Solar3D, Inc.
Solar3D is a leading provider of solar power solutions and the developer of a proprietary high efficiency solar cell. The company's SUNworks division focuses on the design, installation and management of solar power systems for commercial, agricultural and residential customers. SUNworks is one of the fastest growing solar systems providers in California and has delivered hundreds of 2.5 kilowatt to 1-megawatt commercial systems and has the capability of providing systems as large as 25 megawatts. Solar3D's technology division is developing a patent-pending 3-dimensional solar cell technology to maximize the conversion of sunlight into electricity. The Solar3D Cell collects sunlight from a wide angle and lets light bounce around in 3-dimensional microstructures on the solar cell surface. The Company's mission is to further the widespread adoption of solar power by deploying affordable, state-of-the-art systems and developing breakthrough new solar technologies.
To learn more about Solar3D, visit our website at http://www.Solar3D.com.
Safe Harbor Statement
Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These risks include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, products, and prospects for sales, failure to commercialize our technology, failure of technology to perform as expected, failure to earn profit or revenue, higher costs than expected, persistent operating losses, ownership dilution, inability to repay debt, failure of acquired businesses to perform as expected, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company.