California utility regulators reviewing preparedness for energy-use surge from passage of California’s Prop. 64 legalizing
recreational use of cannabis
ALISO VIEJO, CA, Dec. 13, 2017 (GLOBE NEWSWIRE) -- XsunX, Inc. (OTC:XSNX), a leading
commercial solar and energy storage technologies provider, announced today that it has begun to see inquires for its solar + energy
storage solutions for use in commercial cannabis grow operations. Interest in solar PV and energy storage solutions by commercial
cannabis growers stems from the legalization of recreational cannabis use in California.
Indoor grow operations for cannabis are energy-intensive and California utility rates, among the highest in the nation, can add
significantly to operational costs for growers. With indoor grow operations utilizing extensive lighting and environmental
controls, the use of solar PV paired with energy storage is ideally suited to meet the load requirements for these operations.
“The pairing of commercial solar rooftops and solar canopies with energy storage can more than double energy savings and reduce
energy costs by hundreds of percent for indoor grow operations. This can create meaningful long term operational cost reductions
for cannabis growers,” stated Tom Djokovich, CEO of XsunX, Inc. “And, through our lending network, we can offer property
assessed clean energy (PACE) financing for facility energy efficiency upgrades which can help cannabis operations avoid the
complexities of conventional bank based loans and Federal regulations,” continued Mr. Djokovich, CEO of XsunX, Inc.
With the passage of California’s Prop. 64 legalizing recreational use of cannabis, and the anticipation that new cannabis
grow-farms will start plugging into the power grid, the California Public Utilities Commissions (CPUC) policy and planning division
has engaged in research for the development of recommendations for its investor-owned utilities to prepare for
a surge in energy-use.
This anticipation by the CPUC is not without merit. For example, Colorado reported that after the legalization of recreational
use in 2012, half of the increase to energy load demands were attributable to new cannabis cultivation.
How large is the energy market for indoor grow operations - a 2012 energy policy study placed emerging indoor cannabis cultivation energy use at $6 billion
nationally. In California, the 2012 study estimated that indoor cannabis cultivation was responsible for about 3% of California’s
electricity consumption, which is equivalent to the electricity consumption of one million California homes.
“We believe that we can help indoor grow operations to generate superior returns through maximizing solar and utility resources
with our solar + energy storage managed solutions. We look forward to servicing what we anticipate will be a growing interest for
these solutions in 2018,” concluded Mr. Djokovich.
About XsunX:
XsunX specializes in the sale, design, and installation of solar photovoltaic power generation (PV), and energy storage
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.
For more information, please visit the Company's website at www.xsunx.com, or to learn more about the benefits of solar energy for your business or home
schedule a free PV project assessment.
Safe Harbor Statement: Matters discussed in this release contain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts included
in this press release are forward-looking statements. When used in this press release, the words "anticipate," "believe,"
"estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. These statements relate to
future events or to the Company's future financial performance, and involve known and unknown risks, uncertainties and other
factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any
future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Investors
should not place any undue reliance on forward-looking statements since they involve known and unknown, uncertainties and other
factors which are, in some cases, beyond the Company's control which could, and likely will, materially affect actual results,
levels of activity, performance or achievements. Any forward-looking statement reflects the Company's current views with respect to
future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations,
growth strategy and liquidity. Such risks, uncertainties and other factors, which could impact the Company and the forward-looking
statements contained herein, are included in the Company's filings with the Securities and Exchange Commission. The Company assumes
no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results
could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in
the future.
Contact: Tom Djokovich, President and CEO - 888-797-4527 or email: info@xsunx.com
