As Oil Is Skyrocketing And Nearing $90 Per Barrel, How Will That Help Electric Cars? Easy, It Makes EVs A Fiscal Alternative That Makes Sense; Solar Integrat-ed Roofing Corp. (OTC PINK: SIRC) Through PLEMCo. Subsidiary Sees Opportu-nities Ahead In Electric Cars And EV Charging Stations

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Global oil prices have hit seven year highs and WTI Crude and Brent Crude last night were approaching $90 per barrel oil. Perhaps unwittingly, the sky high prices are making electric vehicles look like a good alternative financially. To Solar Integrated Roofing Corp. (OTC PINK: SIRC), through its PLEMCo. Subsidiary, a brighter electric car future means more EV Charging Stations nationally. So, everybody wins.

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. (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).

As Oil Is Skyrocketing And Nearing $90 Per Barrel, How Will That Help Electric Cars? Easy, It Makes EVs A Fiscal Alternative That Makes Sense; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Through PLEMCo. Subsidiary Sees Opportunities Ahead In Electric Cars And EV Charging Stations

Last evening, WTI Crude and Brent Crude each settled green and approached the $90 per barrel level. Each was only a few dollars per barrel away from that magic mark.

As the White House appeared helpless to stop the rapid rise, the only good news for companies like SIRC is that to potential buyers, electric cars and trucks are making more fiscal sense as gas prices jump. That, in turn, means more EV Charging Stations for company’s like SIRC’s PLEMCo., subsidiary.

Federal tax credit tailwinds will help increase sales of electric cars, which now account for just 4% if the total OEM car sales population. The one issue which can propel new electric car sales is the skyrocketing cost of fossil fuel oil.

It is happening now and the White House appears unable to alter the trajectory. As Oil Is Skyrocketing And Nearing $90 Per Barrel, How Will That Help Electric Cars? Easy, It Makes EVs A Fiscal Alternative That Makes Sense; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Through PLEMCo. Subsidiary Sees Opportunities Ahead In Electric Cars And EV Charging Stations.

Estimates from oil experts at Morgan Stanley and JP Morgan about oil reaching $90 and $100 per barrel later this year, actually appear tame. Oil is already approaching $90 per barrel — Bank of America may have been about predicting $150 oil by this summer.

Electric vehicles will be the beneficiary. And EV Charging Station installers, like SIRC’s PLEMCo., will be important and building out a nationwide network of charging stations. As Oil Is Skyrocketing And Nearing $90 Per Barrel, How Will That Help Electric Cars? Easy, It Makes EVs A Fiscal Alternative That Makes Sense; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Through PLEMCo. Subsidiary Sees Opportunities Ahead In Electric Cars And EV Charging Stations

Planned or not, this is the scenario shaping up for the US. Tesla (NASDAQ: TSLA) stunned and excited the rest of the electric car industry when it announced its Q3 record earnings of $1.6 billion and sales of $13.8 billion. It has a leading market share in electric cars and proprietary EV Charging Stations internationally — 56%.

Rivian is another beneficiary. Wall Street investors who missed the Tesla (NASDAQ: TSLA) gold mine, now want in. That’s a driving reason why the recent IPO for Rivian (NASDAQ: RIVN) was so successful. At a $70 billion valuation, Rivian is now trading at above $103 a share. Auto analysts like what they see. Rivian hasn’t shipped many cars to date, but pre-orders are topping 71,000. Enter Amazon. which has already pre-ordered some additional 100,000 Rivian electric delivery vans. Morgan Stanley analysts say that order could eventually reach 300,000.

Electric vehicles have attracted Ford (NYSE: F), General Motors (NYSE: GM) Toyota (NYSE: TM), Nissan and all the European brands,such as BMW, Volkswagen, Mercedes, and others. Even Toyota — the slowest to join electric car believers — has come along.

Research studies cannot keep up with the growth. Electric charging stations are  projected to reach $111.90 Billion by 2028 with a 30.26% CAGR jump, says Fortune Business Insights. Maybe it’s too little?

The nation needs more EV Charging Stations — especially in the Midwestern states. EV Charging Station installers, like SIRC’s PLEMCo., see the opportunities ahead. As a result, they are bidding for government RFP contracts. They may be slow in coming, but they are large.

SIRC is also an applicant for some $80 million in new government federal dollars to help build more EV Charging Stations. SIRC’s advantage is that its installers are already performing solar work in the home — where some 80% of EV charging takes place, the government says.

If Biden is to hit his goal of a government-owned fleet of 500,000 electric vehicles — and hit 2030 carbon pollutant-reduction goals — he will need to fund the building of more EV Charging Stations. That’s great news for installers like SIRC and its PLEMCo. subsidiary. Higher global oil prices make these goals more urgent.

As Oil Is Skyrocketing And Nearing $90 Per Barrel, How Will That Help Electric Cars? Easy, It Makes EVs A Fiscal Alternative That Makes Sense; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Through PLEMCo. Subsidiary Sees Opportunities Ahead In Electric Cars And EV Charging Stations

Learn more about SIRC at https://www.solarintegratedroofing.com/corporate-governance/leadership/.

Source: Stock Market Press

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