Solar Batteries Thrust Into New Vital Role As California’s Proposed Ruling On So-lar Stretches Payback For System Owners; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Positioned Well As Authorized Installer Of Tesla’s (NASDAQ: TSLA) PowerWall Solar Battery Storage System
In light of California’s proposed decision by the California Public Utilities Commission (CPUC) to lengthen the payback period for consumer solar systems, solar batteries have been thrust into a new and decisive role. Bloomberg says adoption of solar batteries will jump. The payback period for new solar systems — instead of jumping to some 11 years under new net metering laws — would instead decline to 6-8 years. That’s vital because typically consumers primarily buy solar when the economic payback period is eight years or less, Bloomberg says. That’s great news for Solar Integrated Roofing Corp. (OTC PINK: SIRC) because it is an authorized installer of Tesla’s (NASDAQ: TSLA) PowerWall solar storage battery systems.
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).
Solar Batteries Take On New Vital Role As California’s Proposed Ruling On Solar Stretches Payback For System Owners; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Positioned Well As Authorized Installer Of Tesla’s (NASDAQ: TSLA) PowerWall Solar Battery Storage System
Solar advocates slam the new proposed decision, in a report by CNBC. In locally reported news by KPBS, California solar supporters plan to fight the proposed decision. Solar advocacy groups want California Governor Newsom to have an ‘intervention’ meeting with regulators in early January to change the proposed ruling before a ruling becomes final later in 2022.
The California Public Utilities Commission (CPUC) is due to vote on the proposed rules by late January. It would go into effect by May.
Now the new CPUC decision my have a silver lining for solar installers such as SIRC.
“The changes are pretty dramatic, but the market in California will remain pretty big for residential and commercial solar,” says Pol Lezcano, a Bloomberg NEF analyst. That’s an understatement because California is the largest solar state in the US with 1.3 million solar system owners.
Lezcano added that if the California CPUC decision passes as proposed in early 2022 and federal solar tax credits get extended for 10 years, new residential solar installations in the state will be slightly lower than an earlier forecast.
That’s why solar batteries are being thrust into a new and decisive role in the future of California’s solar industries. If consumers can count on saving their own excessive electricity generated by solar — instead of selling to the utilities and their central grid — the payback period can be shortened again to less than eight years.
The result would again be more sales of solar system installations plus the added revenue from battery system sales.
Enter SIRC as an authorized installer of Tesla’s (NASDAQ: TSLA) PowerWall solar battery system. The new California CPUC proposed ruling, if finalized in early 2022, could mean more solar and battery system sales and installations for SIRC in the new year.
To solar installers, such as SIRC, the final ruling has major consequences for its business. It is able to sell homeowners of investing in solar due to long-term paybacks in the form of federal tax credits and paybacks from utilities which buy solar generated-electricity.
Outside California, the decision is being carefully watched by other states and SIRC is growing a national brand and footprint in the US alternative energy space. Solar Batteries Thrust Into New Vital Role As California’s Proposed Ruling On Solar Stretches Payback For System Owners; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Positioned Well As Authorized Installer Of Tesla’s (NASDAQ: TSLA) PowerWall Solar Battery Storage System.
The CPUC did listen to the contrary argument about the issue being wealthy solar installers being subsidized by lower income ratepayers. That’s why they made the proposed ruling in the first place.
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, right? No. Net-energy metering would enforce 80% lower subsidies and impose new, higher central grid access to solar owners.
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.
But now, according to the new Bloomberg analysis, solar batteries can plan even more decided role in continuing the momentum of solar in California’s, the largest solar state in the nation. If utilities there rule against traditional solar electricity sell-backs to the central grid, solar batteries once again can turn a stretched 11-year payback into a lower 6-8 term.
The result will mean more combined solar system-solar battery system sales and installations for SIRC. Solar Batteries Thrust Into New Vital Role As California’s Proposed Ruling On Solar Stretches Payback For System Owners; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Positioned Well As Authorized Installer Of Tesla’s (NASDAQ: TSLA) PowerWall Solar Battery Storage System.
This is 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.
California’s CPUC proposed decision on solar is an important issue nationally. Advocates now say solar generates some 15% of the state’s total energy, and it could be a lot more save the new proposed net metering.
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 late January 2022 will become more important. California has greater than 1.3 million solar customers — the largest in the nation. It is the test market for how utilities treat solar.
The CPUC in its ruling said that the current system “disproportionately harms low-income rate payers.”
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.
Solar Batteries Thrust Into New Vital Role As California’s Proposed Ruling On Solar Stretches Payback For System Owners; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Positioned Well As Authorized Installer Of Tesla’s (NASDAQ: TSLA) PowerWall Solar Battery Storage System
Learn more about SIRC at https://www.solarintegratedroofing.com/corporate-governance/leadership/.
Source: Stock Market Press
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