SYDNEY & NEW YORK--(BUSINESS WIRE)--CBD Energy Limited (NASDAQ: CBDE) validates the assertions of Goldman Sachs’ analyst Brian Lee that the U.S. residential solar sector will see dramatic growth over the next two years, as reported in the financial press on June 17. CBD Energy Limited is a diversified clean energy company and leading provider of residential and commercial/utility-scale solar installations worldwide.
“During the several weeks leading up to our recent equity offering and uplisting to NASDAQ on June 13, 2014, our management team has been intensively meeting with institutional investors and thought leaders in the solar industry. We found optimism about the prospects for residential solar adoption in the U.S. to be high and Mr. Lee’s estimates for the growth in U.S. solar installations consistent with the views other industry followers shared with us,” said CBD Managing Director Gerry McGowan.
In articles about the Goldman research, estimates of compound annual growth for U.S. rooftop solar installation volume through 2016 were reported to top 40%. Mr. Lee was quoted as stating that the U.S. residential solar is “one of the more compelling growth verticals globally in the solar sector” and that it is in the midst of “a transformative shift that is both early and potentially highly value-accretive for companies involved in the downstream segment.”
“In light of Mr. Lee’s robust forecast for growth in solar in the U.S. residential and commercial markets, CBD has clearly entered the U.S. market at an auspicious time. Having successfully completed more than 17,000 residential installations in Australia, CBD recently began exclusively offering residential solar installations in the U.S. under the widely recognized Westinghouse® Solar brand. Our systems include a 20-year warranty and are offered with innovative financing to deliver exceptional value and security to our customers over the long term,” Mr. McGowan concluded.
About CBD Energy Limited (NASDAQ: CBDE)
Established in 1989, CBD Energy Limited, or CBD, is a diversified renewable energy company and a global leader in solar installations. Powered by a management team with deep experience in the energy sector and strong engineering capabilities, CBD is focused on the integration of residential solar, commercial and industrial solar, small utility scale solar and wind projects, in three principal markets - Australia, the U.S. and UK.
Headquartered in Sydney, with principal regional offices in London and New York, CBD has completed projects across four continents, in countries as far-reaching as Australia, Fiji, Germany, Italy, New Zealand, the UK and the U.S. CBD has installed more than 17,000 residential systems and developed large renewable energy projects such as the 107MW wind farm in Taralga, NSW. CBD markets its residential and commercial solar installations under the name Westinghouse Solar, using the WESTINGHOUSE® trademark pursuant to an exclusive, long-term worldwide license. For further information on CBD Energy Limited and Westinghouse Solar, please visit:
Caution Concerning Forward-Looking Statements
This news release contains ‘forward-looking statements. Such forward-looking statements can be identified by, amongst other things, the use of forward-looking language, such as the words ‘plan’, ‘believe’, ‘expect’, ‘anticipate’, ‘intend’, ‘estimate’, ‘project’, ‘may’, ‘would’, ‘could’, ‘should’, ‘seeks’, or ‘scheduled to’, or other similar words, or the negative of these terms, or other variations of these terms or comparable language, or by discussion of strategy or intentions.
The forward-looking statements in this release include statements regarding the growth prospects for residential solar installations, the timing of and expectations regarding CBD’s U.S. market entry and the potential value of its brand and warranty, among others. Such forward-looking statements are subject to various risks, as well as those set forth in the Corporation’s most recent prospectus, as filed with the U.S. Securities and Exchange Commission (SEC), and involve assumptions, estimates, and uncertainties that reflect current internal projections, expectations or beliefs. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. All forward looking statements contained in this news release are qualified in their entirety by these cautionary statements and the risk factors described above. Furthermore, all such statements are made as of the date of this release, and CBD Energy Limited assumes no obligation to update or revise these statements unless otherwise required by law.