updated 5/5/2011 6:16:06 AM ET 2011-05-05T10:16:06

MINEOLA, New York, May 5, 2011 (GLOBE NEWSWIRE) -- Clear Skies Solar, Inc. (CSS) (OTCBB:CSKH), a full-service renewable energy provider to commercial, agricultural and residential clients, today announced it has received patent awards from both the Hong Kong and Chinese governments.

The patent awards we received are for our XTRAX® wireless data monitoring system that is held by our majority owned subsidiary, Carbon 612 Corporation. Carbon 612 was established for the purpose of housing our developing technologies related to renewable energy. The XTRAX® unit was specifically developed to collect and measure production data for the monetizing of residential and sub-fifty Kilowatt commercial markets, but it has evolved into being available for licensing in other markets such as water and oil management. The award of these patents open an enormous market for CSS & Carbon 612 in which to operate.  

Our XTRAX® technology is the lowest cost data monitoring system that we know of on the market today and has already passed difficult stages of ANSI testing. ANSI, the American National Standards Institute, is an independent laboratory that sets the bar for accuracy in reporting for the electric metering industry. The ANSI testing reports have shown our technology operating with an accuracy of better than plus or minus 1/4 of one percent, or 0.18 percent. This makes XTRAX® valuable for investors as well as utilities. Investors will be able to affordably monetize smaller systems while utilities and SREC (that is, Solar Renewable Energy Credits) traders can rely on the production data for this vast yet untapped market. Nationally, SREC programs are quickly becoming the standard tool for financing renewable energy systems. Currently 63 utility and state programs provide performance based incentives (PBI) and 41 states and territories that have renewable portfolio standards or (RPS). Both programs require a technically accurate device for metered output of any given solar energy system.

The cost of XTRAX® is under $150, and should be lower once full production is achieved. The residential and small commercial markets comprise the vast majority of installations in the USA as well as most other countries. More than 120,000 solar energy systems are in operation in the US to date and an increase of 30,000 during 2011 is projected.

About Clear Skies Solar, Inc.

Clear Skies Solar, Inc. (CSS), through its wholly owned subsidiary, provides full-service renewable energy solutions to commercial, industrial and agricultural clients across the country. CSS was incorporated in 2003 and launched formal operations in 2005. During that time, the Company developed its proprietary systems, obtained important licenses and certifications, and acquired technologies to maximize the impact of its construction expertise in the renewable energy sector. Clear Skies Solar has become one of the premier solar electric installation companies in the country. For more information about CSS please visit http://www.clearskiessolar.com

The Clear Skies Solar, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7498

Forward-Looking Statements

Certain statements in this press release may constitute "forward-looking statements" that involve risks and uncertainties. These include statements about Clear Skies Solar's expectations, plans, objectives, assumptions or future events. You should not place undue reliance on these forward-looking statements. Information concerning factors that could cause the Company's actual results to differ materially from these forward-looking statements can be found in Clear Skies Solar's periodic reports filed with the Securities and Exchange Commission. Clear Skies Solar undertakes no obligation to publicly release revisions to these forward-looking statements to reflect future events or circumstances or reflect the occurrence of unanticipated events.

CONTACT: Clear Skies Solar, Inc.
         Investor Relations Department
         Email: IR@ClearSkiesSolar.com
         Direct: 1-877-309-CSKH (2754)

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved

Discuss:

Discussion comments

,

Most active discussions

  1. votes comments
  2. votes comments
  3. votes comments
  4. votes comments

Data: Latest rates in the US

Home equity rates View rates in your area
Home equity type Today +/- Chart
$30K HELOC FICO 4.91%
$30K home equity loan FICO 5.20%
$75K home equity loan FICO 4.57%
Credit card rates View more rates
Card type Today +/- Last Week
Low Interest Cards 13.42%
13.40%
Cash Back Cards 17.92%
17.92%
Rewards Cards 17.13%
17.12%
Source: Bankrate.com