Solar Integrated Roofing Corp. (OTC: SIRC) Sees Commercial Community Solar Projects For Low Income Residents As ‘Big Change’ In Its Future Revenues For 2nd Half Of 2023 Into 2024; But Greater Than 100 Groups Seek To Postpone California’s Utility Commission Implementation Of NEM 3.0’s Net Metering Plan That Cuts Solar Payback For New Solar Users


Solar Integrated Roofing Corp. (OTC: SIRC) sees Commercial Community Solar Projects targeted for the benefit of low income residents as generating a ‘big change’ in its future revenues for the second half of SIRC’s 2023 into 2024, according to David Massey, CEO. The matter may have not been settled yet as  greater than 100 groups are urging the California Public Utilities Commission (CPUC) to delay implementation of the new NEM 3.0 net metering plan. The issue pits homeowners with newly-installed solar receiving sharp cutbacks on solar energy they share with the central grid against groups which seek to let lower income residents share in the clean energy savings solar provides.  In the middle are apolitical solar installers who seek to install more commercial Community Solar Projects on large multi-family roof installations targeted to lower income residents. 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).

The issue at hand facing the CPUC is a microcosm of solar nationally. Private homeowners with newly installed solar seek a larger payback on solar sharing with central grids plus federal IRA tax breaks. The utilities that operate them are seeking to draw a middle ground between them and other groups in favor of these low income community projects, such as the Center For Biological Diversity, Protect Our Communities Foundation and the Environmental Working Group.

President Biden’s passed Inflation Reduction Act (IRA) would offer solar system owners tax breaks for sharing solar system power. Cutting their dollar buybacks from utilities for the solar power they share with central grids operated by utilities only pits solar ‘haves’ against solar’ have nots’.

SIRC and other solar installers will have to wait and see what the CPUC ultimately decides. Meanwhile SIRC’s strategy of installing solar for low income communities dovetails with President Biden’s Inflation Reduction Act (IRA) efforts to provide tax credits and subsidies that make Community Solar Projects attractive to residents who otherwise would not be able to share the benefits of Solar Energy.

David Massey, SIRC CEO, told Company shareholders and financial investors that the community solar concept will be important to SIRC’s revenues this year. SIRC foresees an 80%-20% commercial-to-residential solar focus in 2023. “Community solar projects will be a big part of the future. We would put solar on a big commercial roof and provide solar energy to low income residents. This is going to be the big change and we’re really going to focus on that in the second half of 2023 moving into 2024,” Massey says.

This is an important new opportunity for SIRC in 2023 and 2024. By participating in the ‘Community Solar Project’ program, as part of President Biden’s passed Inflation Reduction Act (IRA), SIRC is proving to its shareholders and the financial community at large its commitment to growing, providing alternative energy to a broader segment of the consumer population and extending its commercial solar activity — backed by the priority and subsidies of the US government.

Source: Stock Market Press

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