LOS GATOS, Calif.--(BUSINESS WIRE)--July 31, 2006--Akeena Solar, a leading designer and installer of solar power systems, today announced it has appointed David "Lad" Wallace chief financial officer.

Wallace, 53, has an extensive history in senior financial management, serving as CFO and controller in a number of industries, including micro-electronics manufacturing, winery, liquor and soft drink production, bottling and distribution, oil refining, sporting goods, clothing manufacturing, and the newspaper industry. He has broad experience in the development of financial systems, from creation of accounting systems to detailed financial reporting.

Wallace has worked on developing both Sarbanes Oxley and ISO 900X procedures for various industries.

"Lad worked for us as our consulting CFO in 2005. His commitment to Akeena Solar on a full-time basis will be very helpful as we execute our business goals," stated Barry Cinnamon, CEO of Akeena. "Lad has vast senior financial experience and has demonstrated the operational savvy to build companies. Additionally, he has a passion for alternative energy. As CFO, he will drive financial management and execution, and I will focus on corporate development and strategic relationships."

"I am excited to return to Akeena at this pivotal juncture," commented Wallace. "Akeena's commitment to customers and our position in the industry gives me the confidence that we will meet our goals. After doing my Master's thesis on renewable resource energy business development, I am looking forward to putting these concepts into practice with Barry and the rest of the Akeena team."

Wallace has worked in Japan, Europe, the Caribbean and in Northern California for companies including O'Neill, Inc., Brown-Forman Corporation (NYSE:BF) and Dow Jones (NYSE:DJ). Wallace has a B.A. degree from Linfield College and an MBA (International) from the Monterey Institute of International Studies.

About Akeena Solar

Founded in 2001, Akeena Solar's philosophy is simple: we believe that producing clean electricity directly from the sun is the right thing to do for our environment and economy. Akeena Solar has grown to become one of the largest national integrators of residential and small commercial solar power systems in the United States, serving customers directly in California, New Jersey, New York, Connecticut and Pennsylvania. For more information, visit Akeena Solar's website at www.akeena.net.

Safe Harbor

Statements made in this release, that are not historical in nature, constitute forward-looking statements within the meaning of the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the use of words such as "expects," "plans," "will," "may," "anticipates," believes," "should," "intends," "estimates," and other words of similar meaning. These statements are subject to risks and uncertainties that cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks associated with the uncertainty of future financial results, additional financing requirements, development of new products, the effectiveness, profitability, and marketability of such products, the ability to protect proprietary information, the impact of current, pending, or future legislation and regulation on the industry, the impact of competitive products or pricing, technological changes, the effect of general economic and business conditions. All forward-looking statements included in this release are made as of the date of this press release, and Akeena Solar assumes no obligation to update any such forward-looking statements.

Copyright Business Wire 2006

Akeena Solar

Akeena Solar

Akeena Solar is one of the largest national installers of solar power systems. We install turn-key solar power systems for residential and commercial customers and we take pride in every job we do. Akeena Solar is traded on the OTCBB as AKNS.OB.

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