Solar And Other Renewable Energy Sources Seen Generating 30% Of Nation’s Electrical Capacity Within Three Years As New Technology Solar Panels And Solar Incentive Programs Drive Installations; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Would Benefit In 2022
Solar rooftop and other renewable energy sources are seen growing over the next three years to generate at least 30% of the nation’s capacity. New solar panel technologies and mid-January solar incentive grants are helping drive the growth in solar installations and more renewable energy, site ENRCalifornia recently reports. These positive moves are tailwinds for solar installers, such as Solar Integrated Roofing Corp.(OTC PINK: SIRC). Today, renewable energy only generates for 25% of the U.S. total capacity.
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The move within three years to generate 30% of the nation’s electrical capacity —– from just 25% today — has a momentum from new funding and technology. Here’s how:
- By the middle of this month, rooftop and small-scale solar projects can begin claiming incentive awards.
- Hopes are high for the debut of ‘perovskite’ cells in roofing installations. Only lab tested until now, the new technology will be field tested for its ability to convert solar energy to power.
- The cost of solar deployments will begin to decline as new technology brings down installation costs. For example, GAF is launching a new solar roofing tile line called ‘Timberline Solar’. It incorporates solar technology into standard roofing tiles. GAF says only a nailing gun and regular roofing crews are needed. They could bring a lot more solar to the U.S. construction industry, if successful.
Ken Bossong, executive director of non-profit Sun Day Campaign, says “Conservatively, over the next three years, renewables should expand from about a quarter of the nation’s generating capacity today to at least 30% and probably more.”
Several states are still facing headwinds as the nation grows its rooftop solar capacity. For example, state bureaucracy has slowed solar growth in Massachusetts. Solar And Other Renewable Energy Sources Seen Generating 30% Of Nation’s Electrical Capacity Within Three Years As New Technology Solar Panels And Solar Incentive Programs Drive Installations; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Would Benefit In 2022.
In the nation’s leading solar state, California — where 1.3 million people enjoy solar energy — utilities could be limiting future growth through its proposed policies lowering prices paid to homeowners for excess solar-generated electricity — and new and higher fees are being considered to access the central grid. If final-approved, it would lengthen the payback time for solar systems — hurting installation momentum.
But 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.
Joining the central grid for solar is inevitable, but it can also be profitable and efficient. It is not just rejecting the carbon gases from fossil fuels, but important economic sense to make the move to solar now.
In solar-leading California, utility companies are viewing solar as a wealthy rate payer vs. low income rate payer issue. Solar proponents are fighting back — and that is seen nationally as a positive move. Payback periods become significantly shorter as solar owners pool their systems through solar rechargeable batteries. Their combined resources shorten payback periods to six years or so.
SIRC is well positioned in this strategy because it is an authorized installer of Tesla’s (NASDAQ: TSLA) PowerWall Rechargeable Solar Battery Systems.
Homeowners and small business potential buyers of solar systems can see clearly that 2022 offers them a rare chance to beat central grid electricity increases. They can also move now before federal tax credits for solar drop from 26% to 22% in 2023. Solar loan money is plentiful and low cost. The time to commit to solar is now at little or no cost.
Central grid electricity is climbing in cost — making the payback period for solar less than eight years. Solar buyers can install systems for next to nothing if they do it now. Solar And Other Renewable Energy Sources Seen Generating 30% Of Nation’s Electrical Capacity Within Three Years As New Technology Solar Panels And Solar Incentive Programs Drive Installations; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Would Benefit In 2022.
Utility companies, such as the California Public Utilities Commission (CPUC), seek to raise rates against solar system homeowners — solar proponents are fighting back against ‘critical peak pricing’ from utilities. To incentivize potential solar system buyers, solar proponents have developed strategies to make buying and owning solar a financially efficient investment. Solar installers like will benefit.
The strategy overall means staying away from the peak-demand higher rate fees utilities seek to charge through higher ‘critical peak pricing’ from utilities. Homeowners can customize their solar savings by saving their solar-generated electricity for peak time usage — when electricity costs more from the central grid.
Watch for these issues to become key for more utility companies in more states. They may view low income rate payers ‘subsidizing’ the savings enjoyed by wealthier homeowners who have installed solar. The California Public Utilities Commission (CPUC) is due to vote on the proposed rules by late January 2022. It would go into effect by May. The CPUC in its ruling said that the current system “disproportionately harms low-income rate payers.”
Solar And Other Renewable Energy Sources Seen Generating 30% Of Nation’s Electrical Capacity Within Three Years As New Technology Solar Panels And Solar Incentive Programs Drive Installations; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Would Benefit In 2022
Learn more about SIRC at https://www.solarintegratedroofing.com/corporate-governance/leadership/.
Source: Stock Market Press
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