CAMPBELL, Calif., April 4, 2011 (GLOBE NEWSWIRE) -- Westinghouse Solar, Inc. (Nasdaq:WEST), a designer and manufacturer of solar power systems, today announced the release of their second-generation AC solar panel. This new panel will be available in the second quarter at a very attractive price point.
Westinghouse Solar's new AC panel has been designed from the ground up to meet the needs of residential rooftop installers. Improving on the original patented design, the racking, wiring, grounding and inverter are built into a larger-format 235-watt panel, thereby delivering higher performance and lower installed cost.
In 2007, Westinghouse Solar pioneered the concept of integrating the racking, wiring and grounding directly into the solar panel. This revolutionary solar panel, originally carrying the "Andalay" name, quickly won industry acclaim. In 2009, the company again broke new ground with the first AC solar panel, reducing the number of parts for a rooftop solar installation by 80 percent and reducing labor by 50 percent. This first AC panel -- which won the 2009 Popular Mechanics Breakthrough Award -- has become the most widely installed AC solar panel. Continuing on their path of innovation, Westinghouse Solar's second generation AC solar panel is based on a large format design, and includes a number of differentiating features that contribute to the panel's reliability, performance and safety.
"Much like the Prius, innovations can take time to gain market acceptance before they become a standard among mainstream consumers," said Barry Cinnamon, CEO of Westinghouse Solar. "Market data for AC solar panels clearly show rapid homeowner and installer acceptance. The performance, reliability and safety benefits of our AC solar panels are particularly appealing to the legions of new solar installers, especially electricians, HVAC contractors and home improvement companies. As ordinary solar panels become a commodity, our focus on delivering a product that dramatically lowers installation costs -- while backed by a brand that consumers know and trust -- sets us apart from the rest of the industry."
About Westinghouse Solar: (Nasdaq:WEST)
Westinghouse Solar is a designer and manufacturer of solar power systems. Award winning Westinghouse Solar Power Systems provide the best combination of safety, performance and reliability, while backed by the proven quality of the Westinghouse name. For more information on Westinghouse Solar, visit www.westinghousesolar.com.
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Statements made in this release that are not historical in nature, including those related to future revenue, revenue growth, operating expense rates and cost reductions, and product offerings in future periods, constitute forward-looking statements within the meaning of the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the use of words such as "expects," "projects," "plans," "will," "may," "anticipates," believes," "should," "intends," "estimates," and other words of similar meaning. These statements are subject to risks and uncertainties that cannot be predicted or quantified, and our actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks associated with the inherent uncertainty of future financial results, additional capital financing requirements, development of new products by us or our competitors, the effectiveness, profitability, and marketability of such products, our ability to protect proprietary rights and information, the impact of current, pending, or future legislation, regulation and incentive programs on the solar power industry, the impact of competitive products or pricing, technological changes, our ability to identify and successfully acquire and grow distribution customers, and the effect of general economic and business conditions. All forward-looking statements included in this release are made as of the date of this press release, and Westinghouse Solar assumes no obligation to update any such forward-looking statements.
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