Impressive 67% Growth in 2010 Confirms the Solar-Power Industry is Becoming Mainstream
TAMPA, Fla.--(BUSINESS WIRE)--With the solar energy market rapidly transforming from a niche business into a worldwide movement, On the Move Systems, Inc. (OTCQB: OMVS) is focused on carving out an early position in this booming industry.
“Although some 7,500 for-profit companies are competing in today’s market for solar energy products and services, we believe the industry is just now beginning to build the momentum that will see it reach its full potential”
OMVS President and CEO Chet Gutowsky said this week that the company’s decision to pursue partnerships with solar technology innovators who are creating the next generation of innovative equipment, appliances and services was prompted by key indicators in several important market sectors.
“First and foremost, governments have realized that solar energy investment has become politically popular around the globe, and they’ve embraced ambitious solar agendas that will ultimately help accelerate the growth of the industry,” Gutowsky said. “A good example of government involvement can be seen in the U.S. Department of Energy’s recently announced $2 billion in conditional loan guarantees for two concentrating solar power (CSP) projects, which use sunlight to heat water or another fluid that generates steam to power a turbine. That kind of government support is helping to make the U.S. a world leader in solar technology, and On the Move Systems plans to capitalize by partnering with leading innovators to tackle the clean energy demands of the near future.”
According to a June 16 report by the trade group Solar Energy Industries Association (SEIA) and GTM Research, continuing innovations have led to falling prices for solar technology, causing a boom in domestic consumer demand in recent years.
"With analysts predicting the U.S. to become the world's largest solar market within the next few years, manufacturers are increasingly looking to the U.S. to site their facilities,” said Tom Kimbis, SEIA Vice-President of Strategy and External Affairs, in a public statement. “This strong demand continues to make solar one of the fastest growing industries in the United States and a source of thousands of solar jobs from manufacturing and installation to engineering and sales."
Many industry analysts agree that solar’s explosive growth shows no signs of slowing down. According to a June 15 article in The New York Times, Ahmar M. Zaman and Shawn Lockman, analysts at Piper Jaffray in New York, estimate that the solar industry will continue to grow by about 32 percent a year over the next decade. A recent study by Allianz Global Investors found that 78 percent of investors think green technology could be the “next great American industry,” and a recent article from Bloomberg New Energy Finance noted that new investment in clean energy rose 22 percent in 2010 to $41.7 billion in the second quarter following a jump in funding for solar thermal power plants.
“Although some 7,500 for-profit companies are competing in today’s market for solar energy products and services, we believe the industry is just now beginning to build the momentum that will see it reach its full potential,” Gutowsky said. “After all, the sun is by far our largest source of energy, delivering 970 trillion kWh worth of free energy every day. That means the solar energy the Earth receives every minute is greater than the amount of energy from fossil fuels used by the world in an entire year.
“Our goal at OMVS is to discover and apply the innovative new technologies that will harness this awesome power and position our company as a leader in building what promises to be the next great engine of economic growth,” he said.
To learn more about On the Move Systems’ innovative solar energy initiatives, please visit http://www.OnTheMoveSystems.com/investor-relations.html.
On the Move Systems commercializes early-stage green technology to compete in an energy sector that includes SunPower Corporation (NASDAQ:SPWRA), First Solar, Inc. (NASDAQ:FSLR), Suntech Power Holdings Co., Ltd. (NYSE:STP) and MEMC Electronic Materials, Inc. (NYSE:WFR).
About On the Move Systems, Inc.
On the Move Systems, Inc. (OTCQB: OMVS) is a growth-oriented company that acquires and commercializes cutting-edge automotive electronics and energy technologies. The company continually pursues partnerships with technology innovators with the intent of diversifying its customer base and developing unique products, processes and material innovations that will fuel new business opportunities. OMVS is an OTCQB publicly traded company. For more information, please visit our website at http://www.OnTheMoveSystems.com. For investing info and performance data on On the Move Systems, please visit http://www.OnTheMoveSystems.com/investor-relations.html.
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