Solar Integrated Roofing Corp. (OTC PINK: SIRC) Hits The Right Home Residential Target For EV Charging Stations, With DOE Certifying That 80% Of All Electric Car Charging Is Done At Home As Drivers Are Anxious About Long Distance Driving And Lack Of Fast-charging EV Stations On The Road
Solar Integrated Roofing Corp.’s (OTC PINK: SIRC) Dedicated EV Charging Station Solutions Division has already started growing with a binding LOI for its first acquired company — Pacific Lighting. But the real immediate profit opportunity lies in SIRC’s wheelhouse: the 80% of EV home charging, identified by the Department of Energy (DOE), and SIRC’s residential work for solar and roofing. As a cross selling opportunity, EV Home Charging is in a sweet spot when SIRC is already performing work at the home.
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) and Canadian Solar Inc. (NASDAQ: CSIQ).
Solar Integrated Roofing Corp. (OTC PINK: SIRC) Hits The Right Home Residential Target For EV Charging Stations, With DOE Certifying That 80% Of All Electric Car Charging Is Done At Home As Drivers Are Anxious About Long Distance Driving And Lack Of Fast-charging EV Stations On The Road
Electric cars, the DOE reports, represent just 2% of all new cars sold in the U.S. As GM (NYSE: GM) and other carmakers plan large networks of far flung EV chargingg stations, executives have acknowledged potential buyers are anxious about mileage limitations from a single charge and the lack of an effective nationwide fast charging system.
They do not wish to be trapped powerless on the road far from home. In this tailwind lies an exciting and lucrative opportunity for SIRC: at-home residential installations of personal EV charging stations, especially as SIRC is already a major factor in the residential roofing, solar, energy storage Tesla (NASDAQ: TSLA) (Tesla PowerWall) business. SIRC has also now entered San Diego’s new home residential market. SIRC is already working at residences and this represents an important new crossover sale opportunity.
Electric car owners are right to be anxious about longer distance driving. Tesla (NASDAQ: TSLA) has done a fine job of establishing fast charging EV Stations, but its re-charging technology remains proprietary. GM (NYSE: GM) has already announced its plans to open 2,7000 EV charging stations within five years. GM has acknowledged that its EV potential customers have anxiety about mileage limitations on a single charge and how fast a supplemental electric charge on the road can take.
Meanwhile, President Biden envisions a lofty nationwide network of 500,000 chargers in the next five years — that dream would cost billions of dollars and is unlikely to see reality anytime soon. Solar Integrated Roofing Corp. (OTC PINK: SIRC) Hits The Right Home Residential Target For EV Charging Stations, With DOE Certifying That 80% Of All Electric Car Charging Is Done At Home As Drivers Are Anxious About Long Distance Driving And Lack Of Fast-charging EV Stations On The Road.
The pending Pacific Lighting Management, Inc., acquisition gives Solar Integrated Roofing Corp. (OTC PINK: SIRC) entry into several long term (IDIQ-type government contracts with the General Services Administration (GSA and GSA Fleet). Its customers also include federal, state and local governments, school districts, hospitals and large commercial clients, the Company said. Pacific Lighting is also qualified by the U.S. Department of Energy as an ESCo (Energy Services Company). Solar Integrated Roofing Corp. (OTC PINK: SIRC) Hits The Right Home Residential Target For EV Charging Stations, With DOE Certifying That 80% Of All Electric Car Charging Is Done At Home As Drivers Are Anxious About Long Distance Driving And Lack Of Fast-charging EV Stations On The Road.
Ted Hatamian, CEO of Pacific Lighting, said, “Our growth over the past 18 years has been phenomenal. Between our resources and existing client base, along with Solar Integrated Roofing’s resources and solar experience, we feel the combination is going to take both companies to new heights.” Pacific Lighting is a GAAP-audited diversified EV charging services provider to large commercial and government customers, he said. Founded in 2003, Pacific Lighting serves mainly government and large commercial clients. It is based in Southern California, in Santa Ana. Learn more at http://www.pacltg.com/.
David Massey, SIRC CEO, said he is looking for more acquisitions in the EV Charging Division. He recently disclosed that he would soon be traveling to Colorado to meet with another EV Charging Station company potential acquisition. He also indicated that the Pacific Lighting acquisition would close in the near future. Solar Integrated Roofing Corp. (OTC PINK: SIRC) Hits The Right Home Residential Target For EV Charging Stations, With DOE Certifying That 80% Of All Electric Car Charging Is Done At Home As Drivers Are Anxious About Long Distance Driving And Lack Of Fast-charging EV Stations On The Road.
SIRC Announces Audit Completion And Possible Up Listing In The Future
In a ‘watershed moment’ for Solar Integrated Roofing Corp. (OTC PINK: SIRC), SIRC announced last Friday that it has competed its audit, ‘setting the stage’ ahead of its planned OTCQB Up Listing. The completion of its PCAOB audit financial statements for the years ended February 29, 2020 and February 28, 2019 and the filing of a Form 10 Registration Statement with the SEC sets the stage for an up list.
David Massey, CEO of SIRC, added. “Looking ahead, the audit sets the stage for us to file an application to become listed on the OTC Market’s OTCQB® Venture Market in the near term, with the goal of up listing to the NASDAQ. We anticipate the increased visibility from an OTCQB listing, when paired with our fully reporting status, could offer significant value as we continue to focus on becoming a cohesive, nationwide platform company for roofing and solar installers. I look forward to the months ahead as we continue our rapid pace of operational execution in an effort to build sustainable value for our shareholders over the long term.”
Precedence Research Sees The EV Charging Industry Reaching $39 Billion By 2027
As electric vehicles skyrocket in growth, analysts published an industry forecast that EV charging stations will reach $39 billion by 2027, according to Precedence Research. The report finds that the industry will grow fast at a 40.7% CAGR rate from 2020-2027. Tesla (NASDAQ: TSLA) and Solar Integrated Roofing Corp. (OTC PINK: SIRC) are already in the industry.
Learn more about SIRC at https://www.solarintegratedroofing.com/corporate-governance/leadership/.
Source: Stock Market Press
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