Solar Growth And Installation Pacing May Be Impacted Temporarily By Supply Chain Interruptions, Worker Shortages And Material Price Hikes; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Uses Domestic Solar Materials And Sees Growth In Its Core Alternative Energy Space
Solar is playing a key role as an alternative energy source enabling federal, state and local governments to meet self-imposed deadlines to reduce or eliminate carbon emissions. However, residential and commercial installation pacing may be impacted temporarily by supply chain interruptions, worker shortages and by solar companies who use imported supplies from China, via political issues, according to Bloomberg. Resolution is seen by the end of 2022. Solar Integrated Roofing Corp. (OTC PINK: SIRC) uses domestic solar supplies whenever possible and sees growth in its core alternative energy space.
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), 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 Growth And Installation Pacing May Be Impacted Temporarily By Supply Chain Interruptions, Worker Shortages And Material Price Hikes; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Uses Domestic Solar Materials And Sees Growth In Its Core Alternative Energy Space
“The shocks to the system in the last two or three months are more or less unprecedented,” said Jenny Chase, an analyst with Bloomberg NEF. “We need to get to net zero as soon as possible, and to do that we just need so much solar and wind. We’re not on track; we need to ramp all this stuff up dramatically.”
Bloomberg projects that the multiple issues facing the pacing of residential and commercial solar installation would be resolved by the end of 2022. Solar only provided about 3.3% of the world’s electricity in 2020. As a result of all these challenges, Bloomberg NEF estimates that the solar installation rate would nearly flatten in 2022 from 2021 levels. Bloomberg estimates that installations next year would only grow by 3.2% YOY vs. what had been a 58% growth rate YOY in 2021.
Jeff Osborne, senior research analyst at Cowen Inc., said, “It’s wacky times. I have never seen so many variables: inflation, policy, shipping costs.” Solar Growth And Installation Pacing May Be Impacted Temporarily By Supply Chain Interruptions, Worker Shortages And Material Price Hikes; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Uses Domestic Solar Materials And Sees Growth In Its Core Alternative Energy Space.
The good news is that solar panels have dropped in price since 2018. But now solar-sourced materials such as steel and aluminum — and freight costs — are rising. Solar panels are now expected to reverse course and experience their first price hike since 2013, analysts predict.
For companies like Solar Integrated Roofing Corp. (OTC PINK: SIRC) who rely predominantly on domestically manufactured solar panels, political issues and price hikes are not primary concerns. Supply chain interruptions and worker shortages affect everyone in the solar and roofing industry. But as more solar factors in the U.S. open in the future, trade issues will be resolved, Bloomberg NEF says.
David Massey, chairman and CEO of SIRC, has explained in numerous interviews that the company and its subsidiaries use primarily domestic sources for solar panels and other materials. That makes SIRC free from impact by materials from abroad. The industry believes that some 80% of its solar panels are sourced from Asia — China, Thailand, Malaysia and Vietnam — primarily by Chinese-owned firms.
Solar and roofing are core businesses at SIRC, which is also in alternative energy spaces such as solar rechargeable batteries and EV Charging Stations for electric cars, through its subsidiary, PLEMCo.
Pablo Diaz, CEO of SIRC-owned subsidiary USA Solar Networks, has been active in signing joint venture agreements with firms that he says will recruit and educate contractors about the benefits of adding solar work to roofing installations. Solar Growth And Installation Pacing May Be Impacted Temporarily By Supply Chain Interruptions, Worker Shortages And Material Price Hikes; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Uses Domestic Solar Materials And Sees Growth In Its Core Alternative Energy Space.
He called USA Solar Networks his ‘brainchild’ and was bullish about the ability of SIRC and its family of 14 companies operating in 40 states to, together, offer client solutions to all of their alternative energy needs. Diaz said, “Dave Massey, Chairman and CEO of SIRC, created an eco-system” combining energy solutions in sectors such as solar, roofing, rechargeable solar battery storage systems, EV Charging Stations, even green agricultural farming.
“We manage the integrity of the process,” Diaz said. “I have been watching SIRC for several years now — they were doing every acquisition I would advise.” He added that the company is flourishing in an age of new technology in which fossil fuels are being replaced by alternative energy and vertical growth opportunities.
Solar Integrated Roofing Corp. (OTC PINK: SIRC) announced that preliminary and unaudited sales soared to a record $25 million for Q2, the three months ended August 31, 2021.
Dave Massey of SIRC, said, “The second quarter of fiscal 2022 was highlighted by strong organic growth from our complementary solar, roofing and EV charging brands that drove record sales numbers.” Massey added, “Looking ahead, we are continuing to focus on our corporate streamlining program to decrease costs and further realize cost synergies across our family of companies. Given our record sales growth, we believe we can achieve profitability this fiscal year.”
Congress is in the final stages of preparing a comprehensive infrastructure bill which calls for extended and additional solar tax credits. To firms like Solar Integrated Roofing Corp. (OTC PINK: SIRC), the infrastructure program is key to future renewable green spending — such as federal tax credits for solar installations. Biden has said he wants to double the number of solar panels in operation in the U.S.
Solar Growth And Installation Pacing May Be Impacted Temporarily By Supply Chain Interruptions, Worker Shortages And Material Price Hikes; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Uses Domestic Solar Materials And Sees Growth In Its Core Alternative Energy Space.
Learn more about SIRC at https://www.solarintegratedroofing.com/corporate-governance/leadership/.
Source: Stock Market Press
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