’S&P 500’ Energy Sector Rises 16.7% So Far In 2022 But Solar Lags The Index Now As Wall Street Investors Wait For New Net Metering Issues In California And Florida To Be Resolved; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Wins Because It Is A Multi-Stream Alternative Energy Company
The ’S&P 500 Energy Sector’ is one of the leading classifications being tracked. In 2020 so far the Energy Sector has risen 16.7%, led by rising prices for fossil fuel oil and gas companies. Solar lags the index. The reason is partly because Wall Street investors are waiting for issues involving utility rate paying to solar customers to be resolved. Solar wants to regain its footing as a fast-growing industry. Solar Integrated Roofing Corp. (OTC PINK: SIRC) is well positioned and wins because it is a multi-stream alternative energy company.
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), Enphase Energy (NASDAQ: ENPH), 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).
’S&P 500 Energy Sector’ Rises 16.7% So Far In 2022 But Solar Lags The Index Now As Wall Street Investors Wait For New Net Metering Issues In California And Florida To Be Resolved; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Wins Because It Is A Multi-Stream Alternative Energy Company
A consortium of utility companies in California and now Florida are seeking to disrupt the fiscal benefits of solar to possible buyers of solar systems. Wall Street analysts like solar as an alternative energy source, but are concerned about net metering’s impact on solar system growth.
SIRC is well positioned in all this because it is a multiple revenue stream alternative energy company, also in EV Charging Stations for electric cars/trucks, and an $80 million applicant for government funding to build more EV Charging Stations to support a large fleet of electric cars. The federal government is providing tailwinds to offer grants and funding for solar initiatives — and SIRC is part of the applicant process.
Yes, interest rate increases and supply chain delay issues have impacted solar’s growth. SIRC is unique because it is also in the EV Charging Station sector that supports electric cars/trucks through its subsidiary PLEMCo. ’’S&P 500 Energy Sector’ Rises 16.7% So Far In 2022 But Solar Lags The Index Now As Wall Street Investors Wait For New Net Metering Issues In California And Florida To Be Resolved; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Wins Because It Is A Multi-Stream Alternative Energy Company
Now net metering is a two-issue matter:
- In the courts, it now faces anti-trust litigation in Washington regarding whether an Arizona-based utility discriminated against rooftop solar customers. The fact that a federal appeals court overturned a low court decision on the issue is a good sign for solar proponents. This court is saying there is legal merit in challenging the utility’s original 2019 decision.
- In California and Florida, protocol dictates rate payers await for a final decision on the precise rates in 2022. Final decisions on rates remain open.
Finally, net metering issues in California and Florida can be overcome with management of reusable solar batteries. Solar system users can store energy from solar and use it when utilities charge top rates — during midday hours. Users can also used stored energy in batteries on cloudy days and at night.
In all those resolutions, Wall Street investors can take comfort in the multiple ways in which solar can work-around the rate issues. Solar is adjusting to sharp headwinds now as materials are subject to price increases and supply chain delays.
Longer term, solar will return to its fast growth and highly lucrative origins. SIRC is a multi-company family of firms focused on solutions for alternative energy. This company has shown an uncanny ability to grow, generate organic expansion and scale its business model of leveraging its new size to buy efficiently and management growth efficiently.
It is becoming a national brand in solar, with EV Charging Stations right behind. It is an alternative energy company that proves it can be operationally profitable nationally. Like Tesla’s (NASDAQ: TSLA) performance numbers for 2021, it shows that alternative energy can be both important to the environment and profitable, as well.
To Wall Street hedge funds and investment groups focused on green energy companies, SIRC is an attractive alternative energy solutions company for these investors. ’’S&P 500 Energy Sector’ Rises 16.7% So Far In 2022 But Solar Lags The Index Now As Wall Street Investors Wait For New Net Metering Issues In California And Florida To Be Resolved; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Wins Because It Is A Multi-Stream Alternative Energy Company
Take rechargeable solar batteries, which are now more critical than ever on delivering management rooftop solar systems for homeowners. SIRC is now sourcing these batteries directly from domestically-based sources such as Enphase Energy (NASDAQ: ENPH). This is a closely-watched entity in the solar sector by analysts. It recently announced a new partnership with Semper Solaris (SS). SS is one of the fastest-growing solar, home battery and roofing contractors in the U.S. The partnership is interpreted as addressing the need for SS to address solar client homeowners’ demands for solar batteries.
SIRC recently said that is was now sourcing solar batteries from this domestically-based Company as a way of end-running supply chain issues. SIRC acknowledges that solar management batteries are now a key element in selling solar systems to homeowners.
Financial performance is another reason analysts should keep an eye on the growth of Solar Integrated Roofing Corp. (OTC PINK: SIRC). It reported recently for Q3 of fiscal 2022 sales of $48.2 million, a YOY 964% jump. Also in the report it showed a $25.2 million operating profit. That represents 52% of total revenues in Q3 fiscal 2022.
SIRC management said it would also ‘comfortably’ exceed its earlier guidance of $100 million for the 12 months ended May 31, 2022. It continues to grow both its organic sales and new volume from acquisitions. In its acquisition pipeline are seven more companies, SIRC said recently. SIRC aims to buy them in all-cash transactions, without diluting the stock.
California may be first in the nation in rooftop solar with 3.1 million customers owning solar systems. Massachusetts is not far behind.
Solar and other renewables are generating a greater percentage of the nation’s capacity needs. According to site ‘Bring Me The News,’ electric rates have jumped some 30% over the past 10 years in some states. That makes solar not just a conservation buy, but also an energy efficient purchase.
SIRC is well positioned because it is an authorized installer of Tesla’s (NASDAQ: TSLA) PowerWall Rechargeable Solar Battery Systems.
‘’S&P 500 Energy Sector’ Rises 16.7% So Far In 2022 But Solar Lags The Index Now As Wall Street Investors Wait For New Net Metering Issues In California And Florida To Be Resolved; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Wins Because It Is A Multi-Stream Alternative Energy Company
Learn more about SIRC at https://www.solarintegratedroofing.com/corporate-governance/leadership/.
Source: Stock Market Press
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