Hawaii Is Next Facing Solar Metering Issue With Utilities Watched Nationally With Rooftop Residential Solar Investment Hanging In The Balance; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Makes Progress Towards Tracking Of $150 Million In FY 2022 Sales

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After solar metering as a battle between homeowners and utilities was settled in California, now Hawaii is next. The metering of solar issue is being watched nationally for its impact in other states. In Hawaii,proposals have been submitted for how solar homeowners will be compensated for access to the electrical grid and payment for excess solar generated electricity submitted. Proposals to settle the matter have been submitted by the largest public utility in Hawaii and the state’s advocacy office to the Hawaiian Public Utilities Commission. Observers say the decision could be the “tip of the spear” on this key issue. Solar Integrated Roofing Corp. (OTC PINK: SIRC), a solar company, is thus far florishing — making progress on tracking to its goal of $150 million in volume in FY2022.

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), 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).

Hawaii Is Next Facing Solar Metering Issue With Utilities Watched Nationally With Rooftop Residential Solar Investment Hanging In The Balance; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Makes Progress Towards Tracking Of $150 Million In FY 2022 Sales

The last we saw this vital issue played out on metering and access rates of solar to the central electrical grid was in California. Residential solar homeowners won that one, but solar advocates say they expect another solar conflict over metering again next year.

At stake in the Hawaii proposals is whether the state can meet its self-imposed 2045 deadline for 100% renewable power. Larger than that, a decision could make it less desirable for homeowners to pay for solar installation if access payment to the grid and compensation for payment for solar-generated electricity by utilities is regarded as too small. Roughly, 41 states have a version on net metering in place, but some states — such as California recently — have new concerns about whether this raises prices for customers without solar, according to the National Renewable Energy Laboratory.

Robert Harris, director of public policy at SunRun’s (NASDAQ: RUN) Hawaii office, said, “Plainly, Hawaii is the tip of the spear on a number of these issues, and the issues we debate in one year tend to pop up in other states two or three years later.” Hawaii Is Next Facing Metering Issue With Utilities Watched Nationally With Rooftop Residential Solar Investment Hanging In The Balance; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Makes Progress Towards Tracking Of $150 Million In FY 2022 Sales.

In Hawaii, the Hawaiian Electric Company Inc. (HECO), which serves 95% of Hawaiian power customers, is sensitive not to incentivize solar power customers who wish to send excess electricity to the central grid. Instead, solar homeowners in Hawaii use storage batteries to store the excess energy generated from solar for themselves for future use. Today, Hawaii uses for about 80% of its power oil-burning power plants and, as a result, Hawaiians pay more for electricity than any other state in the union, advocates say. Solar represents for 17% of total power in Hawaii — most of it from small scale roof-mounted solar installations — according to solar advocate, Solar Energy Industries Association.

Other U.S. states are watching the meting issue for solar in Hawaii, after seeing it play out in California earlier this year. Some solar companies are eyeing solar’s progress in key markets nationally. One is Solar Integrated Roofing Corp. (OTC PINK: SIRC). SIRC is on track to hit $150 million in sales in FY 2022 as its grows by internal volume/organic growth and also has a strategy of acquisitions.

Solar Integrated Roofing Corp. (OTC PINK: SIRC) in July signed a purchase agreement to acquire USA Solar Network LLC, a solar energy and EV Charging Infrastructure Company, enabling to expand its sales by 50-100% growth or $50 million per year in incremental growth at 16% gross margins as early as FY 2022. Led by Pablo Diaz, CEO, USA Solar Network has scaled into 38 states and key markets such as Texas, Florida, Illinois, Arizona, Missouri and New Mexico.

Massey praised accomplishments of Pablo, particularly completing more than 7,000 solar projects to date, he said, and generating over $40 million in revenue since 2018. SIRC believes the acquisition will enable it to achieve 50-100% incremental residential and commercial sales at 16% gross margins in FY 2022. Read more about USA Solar Networks here. Hawaii Is Next Facing Solar Facing Metering Issue With Utilities Watched Nationally With Rooftop Residential Solar Investment Hanging In The Balance; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Makes Progress Towards Tracking Of $150 Million In FY 2022 Sales.

Most recently, SIRC anticipated final closing by July 31, 2021 on its acquisition of multi-media platform Approved Home Pros, and its proprietary Pro Finder tool contractor referral service. The purchase is anticipated to drive $11 million in organic volume to SIRC’s annual revenues, the company said. It will raise SIRC’s profile to viewers, provide it will provide organic/internally generated sales leads for home improvement work (roofing and solar) and internal or organic growth is as important growth strategy for Massey and SIRC, not just growth by acquisition.

The Approved Home Pros acquisition is a prime example of its clear strategy for organic growth in the future, as it anticipates $11 million in incremental volume built by leads from that company’s proprietary Pro Finder ‘tool’ to locate and hire contractors who have successfully passed their own screening and vetting system. Hawaii Is Next Facing Solar Metering Issue With Utilities Watched Nationally With Rooftop Residential Solar Investment Hanging In The Balance; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Makes Progress Towards Tracking Of $150 Million In FY 2022 Sales.

David Massey, CEO of SIRC, said, “The rapid pace of immediately accretive acquisitions during the year significantly increased our month-to-month sales figures. This milestone stands as a testament to the value inherent to our historical rollup strategy, as sales in acquired companies often outpaced expectations. In the near term, with our most pressing acquisitions complete, we will turn our focus to optimizing profitability within the SIRC family of companies. I believe we are well positioned for continued operational execution in the strong seasonal months ahead, creating sustainable value for our shareholders over the long term.”

Solar Integrated Roofing Corp. (OTC PINK: SIRC), reported volume for the 2021 FY jumped 87% to a record $17.1 million and reaffirmed its future volume guidance of reaching profitability in FY 2022. Investment Site Names Seven Solar Penny Stocks To “Buy” For Green Energy Future, With Solar Integrated Roofing Corp. (OTC PINK: SIRC) First On The List; SIRC Sales In June Hit $10+ Million Volume As Company Makes Progress Towards Its Goal Of $150 Million In FY 2022 Sales.

Massey added, “The acquisitions drove annual revenues to a record $17.1 million and set us on a course to achieve at least $100 million in the twelve months ended May 31, 2022. Our focus on rapidly growing, high margin acquisitions has significantly grown sales, allowed us to now capture the full lifecycle of our customers, and brought new synergies and efficiencies across the SIRC family of companies. Due to this, we expect to achieve profitability in FY 2022.”

In FY 2021, SIRC acquired Future Home Power, Balance LLC, Pacific Lighting Management or PLEMCo., Cornerstone Construction and Enerev LLC. All of them are in the solar, roofing, battery storage and back office space.

Massey noted that this accelerated pace of acquisitions has grown SIRC into a national firm: “Our success has transformed our company into a national brand with services now spanning solar, battery backup, EV charging, roofing installation, HVAC work, electrical contracting and back-office technology support.”

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

Source: Stock Market Pr
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