“Our commitment to achieving profitability, combined with the dynamic PV environment of 2011, have led us to adjust our cost structure to ensure that we are able to successfully deliver the industry’s most advanced and cost effective solutions profitably,” said Aaron Gomolak, Satcon’s Chief Financial Officer. “These spending reductions, coupled with our accelerated cost reduction programs, significantly lower our breakeven level during the first half of 2012.”“The worldwide solar market conditions in 2011 demonstrated the dynamic nature of this maturing industry,” said Steve Rhoades, Satcon’s President and Chief Executive Officer. “The compounding effects of reduced panel costs and market demand shifts toward North America and Asia have forced the entire industry to adjust as we enter the next phase of development. Decreasing prices, however, present significant opportunity for Satcon, where the demand for our large-scale inverter solutions nearly doubled in North America and Asia year-over-year. The measures we have announced today will help to ensure that Satcon achieves the financial strength required to profitably maintain our leadership position as the standard for large scale inverter systems as solar power generation becomes a more affordable and stronger investment worldwide.” Satcon’s management will host a conference call and live webcast today, January 4, 2012, at 9:00 a.m. ET to discuss its restructuring initiative. To access the conference call, U.S. participants may dial (877) 407-8289 and international participants may dial (201) 689-8341. In addition, a live webcast of management’s remarks will be available on Satcon’s investor relations website at www.satcon.com. About Satcon Satcon Technology Corporation is the leading provider of utility scale power solutions for the renewable energy market, enabling the industry’s most advanced reliable and proven clean energy alternatives. For over 25 years, Satcon has designed and delivered the next generation of efficient energy systems for solar photovoltaic, stationary fuel cells, and energy storage systems. To learn more about Satcon, please visit www.Satcon.com. Safe Harbor Statements made in this press release that are not historical facts, or which apply prospectively, are forward-looking statements that are made pursuant to the Safe Harbor Provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements can be identified by the use of terms and phrases such as "will," "intends," "believes," "expects," "plans," "anticipates" and similar expressions. These statements are made based on management’s expectations and beliefs concerning future events impacting the company, and include, for example, statements we make regarding the expected improvement in our financial performance and savings resulting from the cost reduction plan. Investors should not rely on forward looking statements because they are subject to a variety of risks and uncertainties, including but not limited to our ability to achieve profitability, our ability to successfully manage contract manufacturing relationships, the market adoption of renewable energy solutions, and other risks described in the company's SEC filings, including its Annual Report on Form 10-K and other periodic reports filed with the SEC. As a result, actual results of our operations or our financial condition could differ materially from those expressed or implied in these forward-looking statements. Forward-looking statements contained in this press release speak only as of the date of this release. Subsequent events or circumstances occurring after such date may render these statements incomplete or out of date. The company expressly disclaims any obligation to update the information contained in this release.