Russia-Ukraine War Impacts Solar Growth Strategy For Utility Scale Projects As Developers Say Key Metals Used In Materials Are Growing Scarce And Expensive, Delaying Or Canceling Planned Q4 Installations; Most Impact Is Not On Residen-tial Where Solar Integrated Roofing Corp. (OTC PINK: SIRC) Is Focused

A new report by Wood Mackenzie and the Solar Energy Industries Association says the impact of the Russian-Ukraine War is finally catching up to utility scale solar projects, making key metals and materials used in solar materials scarce and costly. Q4 utility scale solar projects — large and usually for utilities — are being delayed and cancelled because of the conflict. Luckily, installers like Solar Integrated Roofing Corp. (OTC PINK: SIRC) are focused primarily on residential solar now.

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).

Russia-Ukraine War Impacts Solar Growth Strategy On Utility Scale Projects As Developers Say Key Metals Used In Materials Are Growing Scarce And Expensive, Delaying Or Canceling Planned Q4 Installations; Most Impact Is Not On  Residential Where Solar Integrated Roofing Corp. (OTC PINK: SIRC) Is Focused

Prior to the War, solar was already under pressure from supply chains, tariffs and cost issues anyway. Solar today only generates about 4% of energy in the U.S. That is quite a jump from 1.4% five years ago, the new report says, but the sharp growth of solar projected in 2022 and beyond is under even more cost and availability pressure for utility scale projects from bottlenecks created by energy hikes and the War itself.

It says that prices for major solar projects jump 12.1% in the final moths of 2021 — even a higher 19.1% for wind, especially turbines — forcing some buyers to change plans and delay or cancel solar projects while waiting to assess markets in the future.

The whole trend could be only a near-term problem for renewable energy like solar, but for the short term solar is impacted. Experts had predicted that installation for solar panels will grow at a 7.3% CAGR rate from 2020-2026. That’s the finding of a new study titled, ‘Rooftop Solar Photovoltaic (PV) Installation Market’ by 360 Research Reports. It predicted a fast growth of the solar installation market — despite pandemics, supply chain shortages, material price hikes and any other factors. Solar is here to stay.  Solar Integrated Roofing Corp.’s (OTC PINK: SIRC) core business is installation of rooftop solar — which this Report says is a long term thriving industry.

High demand for rooftop solar will drive installation sales through at least 2026 by a 7.3% fast CAGR, the report shows, not taking the Russia-Ukraine War into consideration in its research. The solar industry, like other construction specialties, is exposed to supply chain shortages, price hikes, pandemics/variants and all kinds of impediments. Yet, consumer demand for more solar installations will drive its future at least through 2026, it finds.

Meanwhile, solar system installers will be challenged to keep up with heightened consumer demand for new systems. Home heating oil and gas are rising in price and sometimes in scarce supply. Solar provides continuous heating/cooling energy and is priced right — especially in conjunction with peripherals such as solar rechargeable batteries. Together, they give solar system owners control to manage their own energy needs.

Another recent solar system research study — the new 14th annual solar survey by EnergySage — found that rechargeable solar batteries are playing a key role in the future of solar system savings. SolarSage found that there were 13% more battery storage systems installed in the second half of 2021. First and foremost, some 69% of solar buyers want backup power for their solar systems — and 51% want to achieve savings on utility rates. Financial considerings and savings are key to making solar purchase decisions, it finds.

Solar Integrated Roofing Corp. (OTC PINK: SIRC) is a really big winner because it utilizes both Tesla (NASDAQ: TSLA) and Enphase (NASDAQ: ENPH) brands in its branded solar equipment for residential installations. Russia-Ukraine War Impacts Solar Growth Strategy For Utility Scale Projects As Developers Say Key Metals Used In Materials Are Growing Scarce And Expensive, Delaying Or Canceling Planned Q4 Installations; Most Impact Is Not On Residential Where Solar Integrated Roofing Corp. (OTC PINK: SIRC) Is Focused.

As SIRC builds a national footprint in solar installations, using the two most popular solar equipment brands is a positive trend. For years, SIRC has been a certified installer of Tesla’s PowerWall brand solar rechargeable batteries. It recently announced it has also reached a new pricing agreement with Enphase for the pricing and sourcing of the ‘Enphase Energy System’. It includes Enphase’s IQ Batteries, IQ Microinverters And Communications Software. It enables SIRC more margins for its national solar installations in 40 states from its 250+ sales teams and commercial development firms.

ENPH is targeted by Wall Street investors, who have exponentially increased the pricing and exposure of ENPH stock. Founded in 2006, Enphase’s revolutionary microinverter technology has changed the solar industry. The company has installed more than 39 million microinverters on some 1.7 million homes in more than 130 countries.

SIRC’s family of companies can now install in customer’s homes Enphase’s 3R rated IQ batteries designed to work with grid-tied solar panel systems. It offers customers reliable solar backup power and an all-in-one AC-coupled storage system that is smart, simple, and safe.

The IQ8 is Enphase’s smartest microinverter yet and changes the paradigm for solar technology, which otherwise requires a grid connection to operate. Russia-Ukraine War Impacts Solar Growth Strategy For Utility Scale Projects As Developers Say Key Metals Used In Materials Are Growing Scarce And Expensive, Delaying Or Canceling Planned Q4 Installations; Most Impact Is Not On Residential Where Solar Integrated Roofing Corp. (OTC PINK: SIRC) Is Focused.

David Massey, founder and CEO of SIRC, says, “I have used Enphase micro inverters since 2006 and have the utmost confidence in their products. Further integrating Enphase into our sales mix comes at an opportune moment as homeowners are increasingly interested in a backup battery system in a time of extreme weather and frequent power interruptions,” he concluded.

Financial savings are an important driver of a commitment to installing a solar system, the new report finds. Nowhere is it seen in the new Solar Marketplace Intel Report™ that solar buyers want solely to use solar power cut carbon emissions from fossil fuel energy. That may be a politically-correct end result, but  does not appear to be a primary driving force in buying solar.

SIRC’s core business is rooftop solar and rechargeable solar battery systems. Some utilities have so much solar-generated excess electricity being sold to them, they have to resell it again to other utilities out of state.

Russia-Ukraine War Impacts Solar Growth Strategy For Utility Scale Projects As Developers Say Key Metals Used In Materials Are Growing Scarce And Expensive, Delaying Or Canceling Planned Q4 Installations; Most Impact Is Not On Residential Where Solar Integrated Roofing Corp. (OTC PINK: SIRC) Is Focused

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

Source: Stock Market Press

Join Stock Market Press’ newsletter for the latest in IPO, market commentary and company profiles.

Stock Market Press is a financial news company that delivers up to date stock news, introduces private and public companies to a wide audience of investors, consumers, journalists and the general public via social media and a rapidly expanding network.

Contact:

Stock Market Press
110 Wall St.
New York, NY 10005 info@stockmarketpress.com https://twitter.com/PressStock

Safe Harbor Statement:

Statements in this news release may be ”forward-looking statements.” Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions or any other statements relating to our future activities or other future events or conditions. These statements are based on current expectations, estimates and projections about our business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and are likely to, differ materially from what is expressed or forecasted in forward-looking statements due to numerous factors. Any forward-looking statements speak only as of the date of this news release and Stock Market Press undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this news release.

See Stock Market Press disclaimer: https://stockmarketpress.com/disclaimer/ SOURCE: Stock Market Press