California utility regulators reviewing preparedness for energy-use surge from passage of California’s Prop. 64 legalizing recreational use of cannabis
ALISO VIEJO, CA, Dec. 13, 2017 (GLOBE NEWSWIRE) -- XsunX, Inc. (OTC:XSNX), a leading commercial solar and energy storage technologies provider, announced today that it has begun to see inquires for its solar + energy storage solutions for use in commercial cannabis grow operations. Interest in solar PV and energy storage solutions by commercial cannabis growers stems from the legalization of recreational cannabis use in California.
Indoor grow operations for cannabis are energy-intensive and California utility rates, among the highest in the nation, can add significantly to operational costs for growers. With indoor grow operations utilizing extensive lighting and environmental controls, the use of solar PV paired with energy storage is ideally suited to meet the load requirements for these operations.
“The pairing of commercial solar rooftops and solar canopies with energy storage can more than double energy savings and reduce energy costs by hundreds of percent for indoor grow operations. This can create meaningful long term operational cost reductions for cannabis growers,” stated Tom Djokovich, CEO of XsunX, Inc. “And, through our lending network, we can offer property assessed clean energy (PACE) financing for facility energy efficiency upgrades which can help cannabis operations avoid the complexities of conventional bank based loans and Federal regulations,” continued Mr. Djokovich, CEO of XsunX, Inc.
With the passage of California’s Prop. 64 legalizing recreational use of cannabis, and the anticipation that new cannabis grow-farms will start plugging into the power grid, the California Public Utilities Commissions (CPUC) policy and planning division has engaged in research for the development of recommendations for its investor-owned utilities to prepare for a surge in energy-use.
This anticipation by the CPUC is not without merit. For example, Colorado reported that after the legalization of recreational use in 2012, half of the increase to energy load demands were attributable to new cannabis cultivation.
How large is the energy market for indoor grow operations - a 2012 energy policy study placed emerging indoor cannabis cultivation energy use at $6 billion nationally. In California, the 2012 study estimated that indoor cannabis cultivation was responsible for about 3% of California’s electricity consumption, which is equivalent to the electricity consumption of one million California homes.
“We believe that we can help indoor grow operations to generate superior returns through maximizing solar and utility resources with our solar + energy storage managed solutions. We look forward to servicing what we anticipate will be a growing interest for these solutions in 2018,” concluded Mr. Djokovich.
About XsunX:
XsunX specializes in the sale, design, and installation of solar photovoltaic power generation (PV), and energy storage technologies to provide our clients long term savings, predictability, and control of their energy costs. Making solar energy a sound investment for our clients is our mission.
For more information, please visit the Company's website at www.xsunx.com, or to learn more about the benefits of solar energy for your business or home schedule a free PV project assessment.
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Contact: Tom Djokovich, President and CEO - 888-797-4527 or email: info@xsunx.com