Open Energy Corporation Signs Inaugural ''Solar Communities'' Project

New Business Model Installs State-of-the-Art Solar Energy Systems
on Townhomes at No Up-Front Cost to Homeowners
SOLANA BEACH, Calif.--(Business Wire)--
Open Energy Corporation (OTCBB: OEGY), a renewable energy company
focused on building integrated photovoltaic solutions, announced today
that it has signed a development agreement with San Diego based John
DeWald & Associates to create its first "solar community" project
which will enable homeowners in the Pacific Station development in
California to gain the benefits of rooftop solar power systems at no
upfront cost to the developer or homeowner.

Under the terms of this agreement, Open Energy will finance
$480,000 and install 1.2 kW systems on each of the 47 condominium
townhomes at the mixed use residential and commercial development
located on Pacific Coast Highway in downtown Encinitas in exchange for
the rights to sell a percentage of the solar electricity provided
under a long term purchase agreement. The development also includes a
Whole Foods store and mixed retail and commercial units.

John DeWald said, "Creative financing is key to effectively
implementing solar in the current market and the Solar Communities
program is a great tool allowing us to include solar as part of our
green building program. The utilization of Open Energy's SolarSave
Membranes does not detract architecturally from our low slope roofs
and the fact that we are deploying solar electricity will help us to
qualify the project as one of the first LEED (Leadership in Energy and
Environmental Design) certified commercial projects in Encinitas. It
is part of a comprehensive green design program that includes energy
efficient materials, water conservation techniques, resource
conservation, and the recycling of demolition materials.

"We are thrilled that Pacific Station will represent the inaugural
project for Open Energy's innovative 'Solar Communities' model. This
exciting new concept will allow us to provide solar energy systems to
our residents and all the benefits of a system such as increased home
value, a reduced monthly electric bill and a higher resale home rate
all for no upfront cost to the homeowner."

David Field, President and Chief Operating Officer of Open Energy,
added, "With this project we are moving forward with our stated
intention to become a power provider as well as a solar equipment
vendor. Up until now, residential customers have not been able to take
full advantage of federal tax incentives for renewable energy systems.
An additional hurdle to residential solar energy systems is that they
have long been considered unattractive and expensive. Our 'Solar
Communities' business model and award winning SolarSave products are
designed to break through these barriers. Homeowners will lower their
monthly utility bill and receive the appreciated property value of a
solar system without bearing the up-front costs. The developer can
meet their design and environmental objectives, and the community as a
whole can lower its carbon footprint. It is a win-win value
proposition."

The Pacific Station project is slated to break ground in Spring
2008 and will take about 18 months to complete. It will utilize
approximately 130 SolarSave(R) membranes, and is projected to provide
over 1.5 million kilowatt hours of clean renewable electricity over
the life of the contract. Open Energy will engineer the PV portion of
the project, and supply balance of system equipment including
inverters and monitoring equipment. Under the terms of the agreement,
Open Energy will provide engineering and rebate processing, as well as
long-term operation and maintenance of the system. The SolarSave(R)
membranes will be provided by Open Energy at its cost, in exchange for
the right to sell power to the development's occupants. As a result,
any revenues will be realized by OEC only upon project completion and
occupancy.

About Open Energy

Open Energy is a renewable energy company focused on development
and commercialization of a portfolio of solar technologies capable of
delivering power and related commodities on a global basis. Open
Energy offers award-winning, building-integrated photovoltaic (PV)
roofing systems for residential, commercial and industrial
applications. Marketed under the trade name SolarSave(R), the product
line includes PV tiles, roofing membranes, and custom architectural
glass panels, as well as integrated inverters and web-based monitoring
systems. The Company's mission is to harness the power of the sun to
deliver complete renewable energy solutions to its customers. For more
information on Open Energy, please visit www.openenergycorp.com.

Safe Harbor for Forward Looking Statements

Except for statements of historical fact, the information
presented in this filing constitutes forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995.
Such forward-looking statements involve known and unknown risks,
uncertainties and other factors, which may cause the actual results,
performance, achievements or financial condition of the Company to be
materially different from any future results, performance,
achievements or financial condition expressed or implied by such
forward-looking statements. These statements are based on the
Company's current expectations, estimates and projections. Words such
as "expects," "anticipates," "intends," "plans," "believes," "seeks,"
"estimates," "may," "would," or "will" or variations of such words and
similar expressions may identify such forward-looking statements. You
can also identify forward-looking statements by discussions of
strategy, plans or intentions. These statements are not guarantees of
future performance. Factors which may impact them include, but are not
limited to, general economic and business conditions, customer demand
for the Company's products, the Company's ability to scale up
manufacturing to meet demand, the Company's ability to execute on its
business plan, the downturn in the real estate market in the United
States, the Company's need for additional financing and its ability to
continue as a going concern, the Company's ability to commercialize
its Solar Communities initiative and new products under development or
recently introduced and other factors over which the Company has
little or no control. All such statements are therefore qualified in
their entirety by reference to the factors specifically addressed in
the sections entitled "Risk Factors" in the Company's Annual Report on
Form 10-KSB and its Quarterly Reports on Form 10-QSB. New risks can
arise and it is not possible for management to predict all such risks,
nor can management assess the impact of all such risks to the
Company's business or the extent to which any factor, or combination
of factors, may cause actual results to differ materially from those
contained in any forward-looking statements. Given these risks and
uncertainties, investors should not place undue reliance on
forward-looking statements as a prediction of actual results. All
forward-looking statements speak only as of the date thereof. The
Company undertakes no obligation to revise or update publicly any
forward-looking statements in order to reflect any event or
circumstance that may arise after the date hereof, other than as
required by law.

Open Energy Corporation
David P. Saltman, Chairman & CEO, 858-794-8800
dsaltman@openenergycorp.com
or
Investor Relations:
Integrated Corporate Relations
John Mills, 310-954-1100
jmills@icrinc.com
or
Media Relations:
Integrated Corporate Relations
James McCusker, 203-682-8200
jmccusker@icrinc.com

Copyright Business Wire 2008