All Eyes Are On California Solar As Utility Decision On Rooftop Solar Looms; Analysts Say It Could Mean More Sales Of Solar Batteries; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Sets Q3 Record-Breaking Volume, Profits As Solar Soars
All eyes are on California solar as utility decision on rooftop solar looms. Analysts say it eventually could mean more sales of Solar Batteries. Solar Integrated Roofing Corp. (OTC PINK: SIRC) sets Q3 record-breaking volume, profits as solar soars. SIRC reports revenue in Q3 2022 jumped to $57.3 million, a 333% increase, while net income rose to $6.2 million vs. a net loss of $1.7 million in Q3 of 2021.
stockmarketpress.com features specialized coverage of related stocks such as Solar Integrated Roofing Corp. (OTC PINK: SIRC), Sunrun, Inc. (NASDAQ: RUN), Blink Charging Co. (NASDAQ: BLNK), Tesla, Inc. (NASDAQ: TSLA), GM (NYSE: GM), ChargePoint (NYSE: CHPT), EVgo (NASDAQ: EVGO), SolarEdge Technologies, Inc. (NASDAQ: SEDG), First Solar, Inc. (NASDAQ: FSLR), SunPower (NASDAQ: SPWR), Gibraltar Industries, Inc. (NASDAQ: ROCK), Spartan Acquisition Corp. II (NYSE: SPRQ). and Canadian Solar Inc. (NASDAQ: CSIQ).
California’s potential new rooftop solar plan could mean a realignment of solar installations and the possible future spike in the sale of energy-conserving solar batteries, analysts say. According to an article first appearing in Canary Media, an upcoming decision on rooftop solar by California utilities — in favor of reducing financial payback for solar owners generating solar-power for the central electrical grid — — could mean the eventual jump in sales of solar batteries.
The California Public Utilities Commission (CPUC) is expected to deliver its far-reaching solar decision on December 15, 2022. The issue is whether rooftop solar owners and potential buyers are being subsidized by poorer ratepayers. If the CPUC rules this way and pays rooftop solar owners less for solar-generated electricity, solar becomes less of a financial-payback investment than a method of ensuring power continuity during rolling blackouts. Continuity is already a motivating factor for homeowners to purchase rooftop solar systems.
Utilities are considering a net-metering replacement plan focused on solar generated energy plus batteries. This combination would in turn power charging of electric EV vehicles, electric home heaters and appliances, utilities say.
Meanwhile, companies such as SIRC are thriving in the rooftop solar industry — no matter what the CPUC’s final decision is.
Source: Stock Market Press
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