Record Tax Incentive Indicates Bright Future for U.S. Solar Industry
HALFMOON, N.Y., Aug. 8 /PRNewswire-FirstCall/ -- DayStar Technologies,
Inc. (Nasdaq: DSTI), a developer and manufacturer of low cost, high-efficiency
silicon-free solar cells that converts sunlight into energy, praised the U.S.
energy bill passed today for providing a 30% tax credit for business or
residential purchases of "photovoltaic equipment."
The new incentive directly impacts DayStar's TerraFoil(TM) solar cells,
which are designed for use in a wide range of products, including traditional
flat-plate power modules to provide electricity for residential and commercial
structures.
"Government support in the form of solar investment tax credits and other
financial instruments in Europe and Asia have successfully led to strong
industry growth and, in the case of Japan, a self-sustaining solar energy
market as subsidy programs are phased out," said Dr. John Tuttle, DayStar's
Chairman and CEO. "Clearly these tax credits work to create self-supporting
markets and DayStar looks forward to helping the U.S. energy market reach that
point."
The bill provides 30% credit for qualifying residential purchases up to
$31 million, and the same credit for business purchases up to $222 million.
About DayStar Technologies, Inc.
DayStar Technologies, Inc. is an emerging leader in low cost, high
efficiency Photovoltaic Foil(TM) that converts sunlight into energy. The
Company's patented and proprietary products include silicon-free CIGS solar
cells, which are deposited on flexible metal foils using production processes
adapted from commodity computer component manufacturing. DayStar believes the
unique combination of its CIGS solar cell design coupled with proprietary
manufacturing processes on flexible metal substrates could substantially lower
costs and remove deployment barriers currently limiting large adoption of
solar energy. For more information on the Company, please visit
http://www.daystartech.com .
Photovoltaic Foil(TM), PV Foil(TM), TerraFoil(TM), TerraFoil-SP(TM) and
LightFoil(TM) are registered trademarks of DayStar Technologies, Inc.
SAFE HARBOR STATEMENT: This news release contains "forward-looking
statements" that are made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. "Forward-looking statements"
describe future expectations, plans, results, or strategies and are generally
preceded by words such as "future, " "plan" or "planned, " "will" or "should,"
"expected," "anticipates," "draft," "eventually" or "projected." You are
cautioned that such statements are subject to a multitude of risks and
uncertainties that could cause future circumstances, events, or results to
differ materially from those projected in the forward-looking statements,
including risks that our products may not achieve customer acceptance or that
they will not perform as expected, and other risks identified in our annual
report on Form 10-K and other filings with the SEC. You should consider these
factors in evaluating the forward-looking statements included herein, and not
place undue reliance on such statements. The forward-looking statements are
made as of the date hereof and DayStar Technologies Inc. undertakes no
obligation to update such statements.
SOURCE DayStar Technologies
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Related links:
http://www.daystartech.com
CONTACT:
INVESTOR RELATIONS: Stephanie Noiseux of
Elite Financial Communications Group for DayStar Technologies,
+1-407-585-1080, or dsti@efcg.net; MEDIA RELATIONS: David Singer
of Sawchuk Brown & Associates for DayStar Technologies,
+1-518-462-0318, or singerd@sawchukbrown.com
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