David Massey, CEO of Solar Integrated Roofing Corp. SIRC, said this week at the Planet MicroCap Showcase to attendee investors that he is ‘impatient' to enter the Texas market for roofing/solar and sees it as a "prime" solar market. He is right. A new report from the U.S. Energy Information Administration (EIA) says Texas as a solar state is fast catching up to leader California in utility scale solar capacity. In the next two years Texas is seen by the EIA as surpassing wind energy there and adding record more solar capacity — likely one-third of all solar capacity in the U.S. will come from Texas.
stockmarketpress.com features specialized coverage of related stocks in the solar, roofing, EV charging stations and battery charging energy industry such as Solar Integrated Roofing Corp. SIRC, Sunrun, Inc. RUN, Blink Charging Co. BLNK, Tesla, Inc. TSLA, GM GM, SolarEdge Technologies, Inc. SEDG, First Solar, Inc. FSLR, SunPower SPWR, Gibraltar Industries, Inc. ROCK, Spartan Acquisition Corp. II SPRQ. and Canadian Solar Inc. CSIQ. President Trump and President Biden signed into law higher and longer federal tax credits for solar buyers — incentivizing consumers to buy solar and offering solar installers such as SIRC a booming industry to install more solar roofs and install more solar batteries. This includes Tesla’s TSLA Powerwall solar storage battery system. SIRC is an official installer of Powerwall.
Solar Hotspot Texas Is Quickly Catching Up To Leader California In Solar Capacity Utility Scale Driven By Investment Tax Credits, Lower Technology Costs And Plentiful Sunlight; Solar Integrated Roofing Corp. SIRC Seeks To Enter Surging Roofing/Solar Market In Texas
The EIA said the solar boom began in Texas about two years ago. Some of the solar growth since then has come from the benefits of the Investment Tax Credit (ITC), and more from lower solar technology costs plus plentiful sunshine. Most solar is located in the Permian Basin in West Texas — where about 30% of the anticipated new solar capacity will be built.
Solar is still relatively small by percentage of all energy in Texas — meaning it has a lot of growth potential in front of it. The EIA said that currently natural gas makes up 53% of energy capacity in Texas with wind-generated energy making up 23% and the remainder generated by coal and nuclear. By comparison, utility-scale solar made up only 4% in 2020. But all that is changing with solar capacity expected to show record growth within the next two years. By 2022 the U.S. agency expects that solar will surpass wind in energy capacity. No wonder SIRC is so eager to enter the Texas market.
Solar In Texas By 2022 Will Make Up The Largest Share Of New Additions, Surpassing Wind-Generated Energy And Natural Gas
The new report from the EIA says that while wind-generated electricity is growing, it is solar that is expected to make up the largest share of new additions in Texas between 2020-2022. Almost half of all new additions during this time frame will come from solar, surpassing both wind (35% of additions) and natural gas (13% of additions). Solar is seen as achieving a key growth role by 2022, according to the EIA report.
California may see itself as the solar state — mandating most new residences be powered by solar — but Texas solar is growing still faster, the EIA said. Forward plans for solar are seen as an aggressive game plan, not only surpassing wind but also challenging California's No. 1 solar position in the future. Solar Hotspot Texas Is Quickly Catching Up To Leader California In Solar Capacity Utility Scale Driven By Investment Tax Credits, Lower Technology Costs And Plentiful Sunlight; Solar Integrated Roofing Corp. SIRC Seeks To Enter Surging Roofing/Solar Market In Texas.
Solar Integrated Roofing Corp. SIRC Singles Out Texas Market For Solar/Roofing Growth
David Massey, CEO of SIRC, talked extensively two days ago about a future acquisition of a large roofer in Texas when he addressed investor attendees at the virtual Planet MicroCap Showcase. "I'm a little impatient to get into Texas," he said. I see it as a prime solar market. It is an exciting market." He said Texas is a market capable of supporting 100-200 roofing sales daily — especially when hail storms tear off roofs. "That's several months of work in California," he said.
U.S. Solar Growth Driven By Government Funding
In the U.S., solar growth will also be driven by government funding. The Department of Energy (DOE) and its Solar Energy Technology Office (SETO) are making grants of between $300,000-$5 million for solar-thermal research projects and companies expanding solar to new markets. The goal: a decarbonized electricity system by 2035, a 100% clean energy economy with net-zero emissions by 2050.
Solar Integrated Roofing Corp. SIRC Committed To Solar Energy
SIRC is expanding its solar footprint as Biden seeks more funding for renewable clean energy. Regardless of whether it is related to solar, wind or EV, the clean energy strategy is a Biden administration priority under the "Build Back Better" program. All this new federal funding — through tax credits, grants and other incentives — lead solar lobbying groups, such as SEIA, to predict a quadrupling of solar installations by 2030.
SIRC On An Acquisition Spree In Clean Energy Solar
Solar Integrated Roofing Corp. SIRC is focused on growing in clean energy and particularly solar and EV battery energy storage. SIRC recently closed on its purchase of another established clean energy renewable solar and roofing solutions providers and installer Cornerstone Construction. With operations in five states, Cornerstone Construction is eyed by SIRC to increase its solar installation activity, Massey said. Solar Hotspot Texas Is Quickly Catching Up To Leader California In Solar Capacity Utility Scale Driven By Investment Tax Credits, Lower Technology Costs And Plentiful Sunlight; Solar Integrated Roofing Corp. SIRC Seeks To Enter Surging Roofing/Solar Market In Texas
SIRC also acquired solar installer Enerev LLC. To learn more, go to https://www.enerevsolar.com/getting-started. SIRC also reached agreement with Solectrac, Inc., an all-electric tractor developer and manufacturer located in Northern California. That company is now 24% owned by Ideanomics IDEX. and Solectrac is an applicant for a $500 million USTDA grant.Solar Hotspot Texas Is Quickly Catching Up To Leader California In Solar Capacity Utility Scale Driven By Investment Tax Credits, Lower Technology Costs And Plentiful Sunlight; Solar Integrated Roofing Corp. SIRC Seeks To Enter Roofing/Solar Market In Texas.
Learn more about SIRC at https://www.solarintegratedroofing.com/corporate-governance/leadership/.
Source: Stock Market Press
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