XsunX Inc (OTCMKTS:XSNX) is one microcap solar stock that continues to stay at the top of many speculators watch lists. The stock saw an explosive move up earlier this year off its base at $0.004 to a high of $0.029.
XSNX has runner in its blood; back in 2006 the stock ran from pennies to spectacular highs well over $2.50 a share. Now that the solar space is heating up and XSNX has formed a new base over a penny and has momentum on its side investors are starting to pay attention.
XsunX Inc (OTCMKTS:XSNX) provides solar energy solutions that deliver significant bottom-line financial benefits to businesses. They specialize in the sale, design, and installation of commercial solar power systems. XSNX has a highly skilled team of qualified engineering and specialty contractors with extensive commercial solar experience necessary to service the diverse conditions that can be encountered in commercial buildings.
XSNX has developed CIGSolar™ a new hybrid manufacturing solution designed to produce high performance, low-cost thin-film CIGS solar cells. CIGSolar™ cells offer a low-cost alternative to traditional silicon solar cells.
The Company’s patent-pending approach of combining reliable, high output manufacturing technologies with proven small-area evaporation deposition processes delivers the highest efficiency CIGS thin-films. Utilizing rapid single-cell production techniques, our system architecture improves control of the manufacturing environment, resulting in substantially higher levels of quality control and solar cell performance.
Solar is a great place to be;, the industry is growing by leaps and bounds. In the first three quarters of 2014, 3,966 megawatts of solar capacity were installed in the U.S., compared to 2,647 MW in the first three quarters of 2013. Solar deployment is not only expanding, but the pace at which it’s growing keeps accelerating. In 2014, according to a new report from the Solar Foundation, an independently funded think tank, the solar industry added workers almost 20 times faster than the overall U.S. economy, accounting for almost 1.3 percent of all jobs created.
Southern California is considered to be one of the hottest solar markets in the world right now, as referenced by a recent Tech Republic article that highlighted the 242,000 solar projects throughout the state with 2,279 megawatts installed. Of these installations, Los Angeles leads with 238 megawatts, and San Diego comes in second with 182 megawatts, representing the two largest cities in Southern California.
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In October XSNX entered into an agreement with 1-800-SOLAR-USA to pursue residential sales inquiries of home owners in Orange County and surrounding cities in Southern CA. Under the agreement, XsunX Inc. will be providing solar system quotes to qualified inquiries provided through 1-800-SOLAR USA.
With the addition of a powerful residential qualified lead generation program in place, XsunX also recently secured access to residential loan programs offering rates as low as 4.99% and terms up to 15 years with no costly dealer fees to finance sales. With these exceptional sales tools in place, the company continues to expand its marketing and sales efforts in the high-growth California residential solar market.
On November 17 XSNX announced it has begun to experience an increase in commercial solar purchasing decisions by businesses in the Southern California region.
Helping to drive the growing adoption of solar and energy saving technologies by businesses are the tremendous savings, predictability, and control of energy costs these investments provide. As an example, recent company sales of 20kW and 45kW systems provided clients with fixed per kilowatt hour (kWh) costs of just over $0.03 cents. Current time of use business electrical rates in Southern California can be well over 400% more costly.
CEO Tom Djokovich said “We routinely see project financials offering customers 15% to over 25% return rates and 3 to 5 year paybacks. Best of all — there is a growing interest by businesses to take advantage of these energy investment benefits. We see this growth in client perception from ‘why’ to ‘why not’ go solar as a watershed trend that bodes well for commercial solar sales.”
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Currently trading at a $4.5 million market valuation XSNX his minimal assets, manageable debt and fast growing revenues reporting $937,795 in sales for the 6 months ended June, 30 2015 up from $384,764 for the same period last year; this puts the Company on track to do close to $2 million in sales for 2015. XNSX is an exciting story developing in small caps; the Company is a leading solar power solutions Company, providing solar energy solutions that deliver significant bottom-line financial benefits to businesses. We will be updating on XSNX when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with XSNX.
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Disclosure: we hold no position in XSNX either long or short and we have not been compensated for this article.