Solar Energy Initiatives Revises 2009 Revenue Guidance

PONTE VEDRA BEACH, Fla.--(BUSINESS WIRE)--Solar Energy Initiatives, Inc. (OTCBB:SNRY), executing on a grass roots campaign, “RENEW THE NATION”, to help redeploy a portion of the U.S. work force and focus on reducing the world’s dependence on fossil fuels by selling solar thermal and photovoltaic (PV) technologies, today announced that it is increasing revenue guidance for fiscal 2009. Guidance will be increased 100% to a 2009 run rate of $12 million from the previously announced $6 million for the year ending July 31, 2009. The increase in revenue is based on the success of Solar Energy Initiatives ability to sell solar equipment providing solar energy to municipalities throughout the United States.

Solar Energy Initiatives has positioned itself for continued quarterly sequential growth by developing its niche dominance as a large volume distributor of solar products to its dealers, offering a full service solution to the industry. The signing of new contracts has steadily increased based on the Company’s ability to work closely with its network of solar dealers that has now reached over 60. As part of our “RENEW THE NATION” campaign Solar Energy Initiatives is redeploying construction trade contractors into solar energy dealers. The Company is attracting various hotels, hospitals, schools, prisons and other commercial institutions who want to utilize solar power to lower their current costs for energy by implementing an environmental friendly solution.

“We are extremely pleased to be increasing our revenue guidance and that our business is surpassing our initial revenue expectations,” stated, Mr. David Fann, Chief Executive Officer of Solar Energy Initiatives. “Since we launched our RENEW THE NATION campaign in February we have been improving our Company\'s overall performance. We have successfully increased our market share and revenue base in each month. In the remainder of fiscal year 2009, we will continue to drive growth through sales from our increasing dealer network. Our results in the fourth quarter will cap off an extremely strong fiscal year for the Company. We have a healthy core business and are strategically exploring growth opportunities, which will build on our success and contribute to continued double-digit revenue growth in fiscal year 2009.”