China, India and other key global markets are experiencing a shortage of solar materials, including glass, solar modules and popular bifacial panels which increase power output. According to Bloomberg news and Mercom, prices for glass that coats photovoltaic panels has risen about 71% since July. Experts in solar say the supply-demand issues should be settled in the first half of 2021. Companies such as Solar Integrated Roofing Corp. SIRC are generating growth through organic increases and acquisitions. The firm projects a record $40 million volume in FY 2020 and is expanding beyond its Southern California home base into key markets in nearby states such as New Mexico.
stockmarketpress.com features specialized coverage of related stocks in the solar industry such as Solar Integrated Roofing Corp. SIRC, SolarEdge Technologies, Inc. SEDG, First Solar, Inc. FSLR, Tesla, Inc. TSLA, SunPowerCorp. SPWR, Canadian Solar Inc. CSIQ and Vivint Solar Inc. VSLR.
Solar Is Such A Hot Sector Globally That Material Shortages Ranging From Glass To Solar Modules And Price Increases May Impact Market Into Early 2021; Solar Integrated Roofing Corp. SIRC Driving Expansion Into More Markets And Forecasts Volume Of $40 Million In FY 2022
The shortage of solar materials is due to several key factors: a focus on greater use of solar to reduce the carbon footprint and the appeal of solar to home owners of paying less long term for energy. In California, solar is mandated as the power source for all new residences beginning in 2020. Other states are looking at copycat legislation to require solar in new residential construction. The result is a a shortage of product in the hot solar sector. Solar Is Such A Hot Sector Globally That Material Shortages Ranging From Glass To Solar Modules And Price Increases May Impact Market Into Early 2021; Solar Integrated Roofing Corp. SIRC Driving Expansion Into More Markets And Forecasts Volume Of $40 Million In FY 2022.
According to Bloomberg News, glass shortage and price increases will last into 2021 but the outlook for solar glass manufacturers and installers is booming. New glass factories may even be necessary in the Far East as solar is seen in a long term boom. Countries like India like the quality of solar modules made in China and, therefore,make it their first choice for importation. Solar Is Such A Hot Sector Globally That Material Shortages Ranging From Glass To Solar Modules And Price Increases May Impact Market Into Early 2021; Solar Integrated Roofing Corp. SIRC Driving Expansion Into More Markets And Forecasts Volume Of $40 Million In FY 2022.
Solar Integrated Roofing Corp. SIRC Expands Into New Mexico
One company that is driving the solar boom in the U.S. is Solar Integrated Roofing Corp. SIRC. Within the fast-growing marketplace in Southern California and nearby states, solar powerhouse Solar Integrated Roofing Corp. SIRC sees multiple expansion opportunities. One is its recent expansion into New Mexico where it is expanding into the Albuquerque/Santa Fe metropolitan market with its recent partnership with SunPower Corporation as a premier dealer in the New Mexico market. For SIRC, this expansion is low cost because SIRC will utilize the company's online infrastructure and virtual sales office. With a market of 1.1 million new customers and only a 5% penetration rate of solar energy from residential and commercial markets, this is an area ripe with opportunity.
Joint Venture Agreement Signed
Another is its announcement last week that they have signed a one month (thirty day) joint venture agreement with Enerev, LLC to ensure a correct fit and successful combination if SIRC acquires Enerev in the future. The joint venture agreement is designed to ensure both companies will strategically align marketing, sales, operations of a combined business. SIRC projects that its volume will report a record breaking $40+ million in fiscal 2022 revenues, ending February 28, 2022. Solar Integrated Roofing Corp. SIRC forecast that it would report record volume of $20 million for FY 2021, ended February 28, 2021. Learn more about Solar Integrated Roofing Corp. SIRC.
Solar Integrated Roofing Corp SIRC Sees Expansion Beyond California And Becoming Industry Leader At The National Level
Solar Integrated Roofing Corp SIRC is benefitting from legislation this year requiring that all new residences in California must operate on energy by solar. Solar Is Such A Hot Sector Globally That Material Shortages Ranging From Glass To Solar Modules And Price Increases May Impact Market Into Early 2021; Solar Integrated Roofing Corp. SIRC Driving Expansion Into More Markets And Forecasts Volume Of $40 Million In FY 2022.
Dave Massey, CEO of Solar Integrated Roofing Corp SIRC, said, "Our business strategy has always been to expand beyond Southern California and become an industry leader at the national level." He said that his Company is currently exploring five additional metropolitan areas for future expansion locations as it grows.
This market is growing fast and Solar Integrated Roofing Corp. SIRC, headquartered in Southern California, is now expanding into more states as it eyes its goal of national growth, a market up listing and a national footprint.
Research: 'Demand For Solar Cells Has Gained Major Traction'
Solar Is Growing Globally At A 20.5% CAGR Rate To $223.3 Billion By 2026
Research studies find that global solar is growing fast. Allied Market Research projects that worldwide global solar market is growing at a 20.5% CAGR to USD $223.3 Billion By 2026. The report states, "The demand for solar cells has gained major traction in owing to surge in rooftop installations, followed by increase in applications in the architectural sector." According to a new (November 2020) study by Fortune Business Insights, the global solar market the global solar market size is projected to be USD $194.75 Billion by 2027, growing at a CAGR of 5.9% during the forecast period from 2020-2027.
Source: Stock Market Press
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