New California Proposed Ruling On Solar Would Reduce Subsidy Payments And Add Monthly Charges For Connecting To The Grid As State Sees Solar As Wealthy Vs. Poor Issue; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Ex-pands Solar Installation Footprint Nationally

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California regulators this week in a proposed decision ruled that solar buyers would receive lower subsidy payments and pay more to join and sell excess power to the central grid. In a key decision watched closely by solar proponents nationally, the California Public Utilities Commission (CPUC) appeared to view solar as a  wealthy vs. poor issue. The final decision is due no sooner than January 27, 2022. Solar Integrated Roofing Corp. (OTC PINK: SIRC) is based in California and is a proponent of alternative energy solar. Solar is a core business for SIRC.

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).

New California Proposed Ruling On Solar Would Reduce Subsidy Payments And Add Monthly Charges For Connecting To The Grid As State Sees Solar As Wealthy Vs. Poor Issue; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Expands Solar Installation Footprint Nationally

CNBC analyzed the new proposed ruling and concluded that the CPUC saw solar installations through the lens of rich vs. poor. Wealthy homeowners can install solar to save electricity costs and sell excess electricity back to the central grid. Net-energy metering would enforce the lower subsidies and impose higher central grid access to solar owners.

In contrast, poorer families are seen as paying utility bills subsidizing the wealthy. Low income areas have less solar. This means they will overall pay less to utility companies and will not have to help pay for incentive subsidy payments and central grid connections for wealthy solar owners.

According to a The Wall Street Journal analysis, US states have promised $480 billion for renewable alternative energy projects with the majority of those funds expected be spent before 2024. Homeowners and business owners are choosing solar to beat central grid rising electricity costs — and to play a role in eliminating carbon emissions. Cost-effectiveness now helps create more solar installations.

That’s great news for solar installers like SIRC. Active in alternative and green clean energy installations — such as roofing and EV Charging Stations — SIRC’s core business now is solar. Homeowners are encouraged to buy solar panels and rechargeable solar batteries to store excess energy storage by SIRC.

 

Solar Integrated Roofing Corp. (OTC PINK: SIRC) is a national solar installer brand with multiple subsidiary companies with solar as its core business. Not only is SIRC in solar, it is also an authorized installer of Tesla (NASDAQ: TSLA) brand PowerWall solar rechargeable battery systems.

As SIRC has grown larger in volume and geographic footprint, California’s CPUC proposed decision on solar is an important issue nationally. New California Proposed Ruling On Solar Would Reduce Subsidy Payments And Add Monthly Charges For Connecting To The Grid As State Sees Solar As Wealthy Vs. Poor Issue; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Expands Solar Installation Footprint Nationally.

For multi-state solar system installers such as SIRC, this decision is being carefully watched and interpreted. As more public utility commissions across the nation  study the issue, California’s final ruling in January 2022 will become more important. California has greater than 1.3 million solar customers — the largest in the nation.

Solar companies such as Sunrun (NASDAQ: RUN) and advocacy groups, such as the Solar Energy Industries Association (SEIA), say they are against the proposed ruling in California. New California Proposed Ruling On Solar Would Reduce Subsidy Payments And Add Monthly Charges For Connecting To The Grid As State Sees Solar As Wealthy Vs. Poor Issue; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Expands Solar Installation Footprint Nationally.

The proposed ruling is ironic because California has mandated that most new residences and commercial properties must be powered by solar. Now, California is making solar more costly to the homeowner to operate than first thought.

The CPUC in its ruling said that the current system “disproportionately harms low-income rate payers.” Advocates of the rulingCPUC argue that the ruling incentivizes solar system owners to also install solar battery systems to store excess power generated by solar panels.

“California is now on the wrong path,” says Abigail Ross Harper, president and CEO of solar advocate group SEIA. “The last thing we need now is to go backward on our climate goals.”

Federal and state funding is providing more fiscal tailwinds for solar. Alternative energy solar is seen as a growing opportunity compared and less expensive clean alternative to central grid electricity, powered by coal and other fossil fuels. Not only is the environment a key issue in the choice for solar, but larger and extended federal tax credits are playing a role for homeowners and small and large businesses.

They are counting on solar subsidies and central grid purchases of excess solar-generated power to make buying solar systems efficient. It is sold as a great incentive over the long term. The new proposed ruling in California reduces that incentive.

New California Proposed Ruling On Solar Would Reduce Subsidy Payments And Add Monthly Charges For Connecting To The Grid As State Sees Solar As Wealthy Vs. Poor Issue; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Expands Solar Installation Footprint Nationally

 

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

Source: Stock Market Press

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