Solar Power, Inc. Expects Record Revenues In Q3

ROSEVILLE, Calif.--(BUSINESS WIRE)--Solar Power, Inc. (OTCBB:SOPW) a vertically integrated manufacturer of photovoltaic (PV) modules and marketer, designer and installer of PV solar electric systems for commercial, public and residential customers in the United States, today announced it expects to report record quarterly revenue and will release its Third Quarter Fiscal 2008 results on Thursday, November 13, 2008, after the market close. In conjunction, the company will host a conference call to discuss these results.

Based on preliminary estimates, the Company expects record revenues for the third quarter ending September 30, 2008 of more than $19 million. Through the first half of 2008 the Company recorded revenues of $15.9 Million. The Company will also provide an update to its 2008 annual guidance on the scheduled earnings conference call. Following the second quarter of 2008, the Company provided revised revenue guidance of $36 million, representing an increase in revenues of 99% year-over-year. Supported by strong revenue growth from its international direct panel sales and from its Yes! Franchise business the Company expects to significantly surpass this previously announced annual revenue guidance.

“Our pipeline of business opportunities is strong, and with the recent passage of the Solar Investment Tax Credit bill, we anticipate continued revenue growth in direct panel sales as well as our US commercial construction business,” said Steve Kircher, CEO of Solar Power, Inc. “Our third quarter projected revenues of more than $19 million will eclipse 2007 full year revenues, a significant milestone for our company. Additionally, we see progress in our Yes! Solar Solutions franchise business which is focused on the residential market. We will continue to capitalize on direct panel sales and our vertical integration strategy, thus providing multiple avenues for growth as we look toward 2009.”

These preliminary results are based on the Company's initial analysis of operating results and are subject to change as additional financial information becomes available. The Company will report final results for the third quarter on November 13, 2008. A news release announcing dial-in and webcasting details for the conference call will be issued in advance.