38% Of Oil And Gas CFOs Surveyed Say Solar Will Be The Dominant Alternative Energy Source By 2023; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Diversifies Into More Solar Sectors As It Expands


Even oil and gas CFOs see solar coming. Solar Magazine reports 38% of oil and gas CFOs surveyed say solar will be the dominant alternative energy source by 2023. They see it coming for multiple reasons: political tailwinds, impact of renewable energy and price reductions already being foreseen. The survey found that oil and gas industry executives see solar jumping because of its renewable nature and the pricing of solar going down tremendously. Solar Integrated Roofing Corp. (OTC PINK: SIRC), like Tesla Inc. (NASDAQ: TSLA), is focusing on the impact of solar. SIRC is entering numerous solar and clean energy categories as it grows.

stockmarketpress.com features specialized coverage of related stocks in the solar industry such as Solar Integrated Roofing Corp. (OTC PINK: SIRC), SolarEdge Technologies, Inc. (NASDAQ: SEDG), First Solar, Inc. (NASDAQ: FSLR), Tesla, Inc. (NASDAQ: TSLA),  SunPowerCorp. (NASDAQ: SPWR), Canadian Solar Inc. (NASDAQ: CSIQ) and Vivienne Solar Inc. (NYSE: VSLR).

38% Of Oil And Gas CFOs Surveyed Say Solar Will Be The Dominant Alternative Energy Source By 2023; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Diversifies Into More Solar Sectors As It Expands

The CFOs of these fossil fuel companies project that hydroelectric (28%) and wind (16%) sourced energy will be next in line — but solar will remain the dominant source of alternative energy in the future. Already, within the stock market, fossil fuel companies such as Exxon are planning for a very different energy future.

In just the first week in office, President Biden has canceled the Keystone Oil Pipeline, rejoined the Paris Climate Accords and ended permits for drilling on federal lands. Meanwhile, the outlook for electric cars — with state and national mandates in Europe — setting deadline mandates for their exclusive sale in key markets. All trends are for solar and electric cars and against fossil fuels. 38% Of Oil And Gas CFOs Surveyed Say Solar Will Be The Dominant Alternative Energy Source By 2023; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Diversifies Into More Solar Sectors As It Expands.

The survey, by BDO, of 100 oil and gas company CFOs found an agreement among these executives that green energy will be the future. These executives will seek to balance short term needs and long term trends, but many see the renewable future as green and solar. Clark Sackschewsky, BDO’s Natural Resources leader, said, “This report showed us everyone’s thinking the same thing, regardless of the sub-sector of energy they’re in. The fact that more and more companies are moving into renewable space is not surprising. The cost to implement has gone down.”

SIRC Continues To Expand Into Solar And Clean Energy With Acquisitions And Internal Growth

In an acquisition announced on January 21, 2021, Solar Integrated Roofing Corp. (OTC PINK: SIRC) continued its expansion push by closing on a cash and stock transaction to buy solar energy company Enerev, LLC — expected to add $2 million monthly to SIRC’s revenue run rate by late 2021. Enerev LLC has greater than 20 years of experience and more than 9,000 solar installs. 38% Of Oil And Gas CFOs Surveyed Say Solar Will Be The Dominant Alternative Energy Source By 2023; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Diversifies Into More Solar Sectors As It Expands.

David Massey, CEO of SIRC, Said Acquisition Will Open Cross-Selling Opportunity

“Enerev’s business, built on a long legacy of good business practices, provides an exciting cross-selling opportunity for our full complement of products and services across solar, battery backup installation, roofing and related HVAC/electrical contracting work,” David Massey, CEO of SIRC said. He added, “We look forward to adding the Enerev team to the Solar Integrated Roofing family as their no-cost, direct door to door marketing, is a perfect fit for Solar Integrated Roofing.”

Massey also said, “Enerev is a market leader with best-in-class business development and solar energy systems installers, a business which we believe can significantly expand our customer base and improve labor efficiencies company-wide. We will expand and accelerate those achievements by transitioning their team to offer our highly sophisticated and efficient system designs, tailored to each client’s specific needs including start to finish oversight of the entire project with a single point of contact throughout the life of the solar system.”

Under David Massey’s leadership, SIRC has also established a dedicated division for EV charging stations and reached agreement with Solectrac, Inc., an all-electric tractor developer and manufacturer located in Northern California. SIRC will supply Solectrac, Inc., with energy in the solar field and other electric supplies. That company is now 24% owned by Ideanomics (NASDAQ: IDEX) and Solectrac is an applicant for a $500 million USTDA grant. Additionally, SIRC is joining with several San Diego market builders to enter the new home industry and build roofs — with the ability to cross sell and create higher sales tickets by offering products like solar storage batteries.

$40+ Million Volume Forecast By Solar Integrated Roofing Corp. (OTC PINK: SIRC) For Fiscal 2022

SIRC projects that its fast-track growth in the California residential market anticipates generating greater than $40 million in fiscal 2022 revenues. In the current 2021 fiscal year, SIRC forecast it would report $20 million in volume for the year ended February 28, 2021.

Multiple Expansion Opportunities For Solar Integrated Roofing Corp. In Hot Solar Market In Southern California, Adjacent States

Within the fast-growing marketplace in Southern California and adjacent states,  solar powerhouse Solar Integrated Roofing Corp. (OTC PINK: SIRC) sees multiple expansion opportunities.

California’s Pro-Solar Legislation Mandating Solar Energy In New Homes Constructed In 2020

The residential solar industry has been stimulated by legislation this year mandating that all new residences in California must receive energy by solar. The California solar legislation makes it the first state in the nation to mandate solar usage to drive electricity in residential buildings three stories or lower. Other states are closely watching that legislative move — it can be added to more states in the future, expects say.


Source: Stock Market Press

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