Tesla (NASDAQ: TSLA) Expanding Its Solar Farm In Texas By 30% At Its SpaceX Launch Site And Using Tesla Solar Power Battery Packs; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Focuses On Solar Rooftop System Business With Tes-la's Solar Batteries

Tesla (NASDAQ: TSLA) Expanding Its Solar Farm In Texas By 30% At Its SpaceX Launch Site And Using Tesla Solar Power Battery Packs; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Focuses On Solar Rooftop System Business With Tes-la’s Solar Batteries

Posted May 5, 2022

In NASDAQ: BLNK, NASDAQ: CSIQ, NASDAQ: EVGO, NASDAQ: FSLR, NASDAQ: RIVN, NASDAQ: ROCK, NASDAQ: RUN, NASDAQ: SEDG, NASDAQ: SPWR, NASDAQ: TSLA, NYSE: CHPT, NYSE: F, NYSE: GM, NYSE: SPRQ, OTC PINK: SIRC

Tesla (NASDAQ: TSLA) is expanding its solar farm by 30% at its SpaceX launch site in South Texas and using its Tesla branded solar power battery packs at the site as well, according to a report by CNBC. Tesla is known for its fleet of all-electric cars and SpaceX launches — most of which are located at the NASA facilities in Florida. Solar Integrated Roofing Corp. (OTC PINK: SIRC) focuses on designing and installing solar rooftop system and is an authorized installer of Tesla’s Solar 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).

Tesla (NASDAQ: TSLA) Expanding Its Solar Farm In Texas By 30% At Its SpaceX Launch Site And Using Tesla Solar Power Battery Packs; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Focuses On Solar Rooftop System Business With Tesla’s Solar Batteries

Consumers tend to think of Tesla (NASDAQ: TSLA) as electric cars only — and owner of a SpaceX launch company using NASA facilities in Florida — but it has also for a long time been in the rooftop solar business. It makes in addition to solar tiles rechargeable solar batteries under its own brand name.

SIRC is an authorized installer of the Tesla branded rechargeable solar batteries for years. That makes Tesla an important vendor, not a competitor. Tesla (NASDAQ: TSLA) Expanding Its Solar Farm In Texas By 30% At Its SpaceX Launch Site And Using Tesla Solar Power Battery Packs; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Focuses On Solar Rooftop System Business With Tesla’s Solar Batteries.

The new CNBC report said that Tesla (NASDAQ: TSLA) would be using its own brand solar battery packs at its vertical launch facility at Boca Chica, Texas. It added that the solar farm at the site would be 7.1 acres when complete.

The news reported “ The expansion underway, with construction expected o take two years in all, would add 750 kilowatts of power for a total of 1.6 MWs of energy, and an additional battery system enabling up to 8 MW of storage.

The location will use Tesla’s Power Pack energy storage systems — designed for businesses and utilities. SIRC installs Tesla’s PowerWall, a residential solar battery system, and a grid scale energy storage system called the Megapack.

The expansion by Musk in Texas reinforces the focus by SIRC on solar alternative energy — and using Tesla-branded solar components.

Plus the collaboration between Musk’s SpaceX and Solar is a defining statement for the electric car company. Although not servicing proprietary Tesla electric cars, SIRC is installing EV Charging Stations to support many OEM electric car brands on the road. SIRC will charge brands from General Motors (NYSE: GM) and Ford (NYSE: F) ad other domestic and foreign electric car makers.

To SIRC, the strong demand for electric mid-priced vehicle product is great news. Consumers ‘want’’ mid-priced ticket electric cars/trucks. SIRC has recently won a five-year Blanket purchase Agreement (BPA) with the federal government to help build the envisioned nationwide network of EV Charging Stations. It is also an applicant for more federal related grants in the early Summer.

To SIRC, all this bodes well for its devision to refocus its business plan to concentrate on EV Charging Stations. At the end of the day, fleet and consumer purchasers of electric vehicles will want to use conventional EV Charging Stations. Although a greater number of OEM electric vehicle manufacturers will want to use their own charging equipment, SIRC is betting on the increasing role it can play in the soaring EV Charging Station industry.

SIRC has already made the decision about the growing importance of EV Charging Stations. With numbers predicting five million EVs in California alone within a decade. EV Charging Stations will grow exponentially. SIRC sees the opportunity for this alternative energy industry and wants to make itself a brand with a national footprint as it grows.

To Solar Integrated Roofing Corp. (OTC PINK: SIRC), the heightened awareness, reporting structure and model launches in electric vehicles only brings a higher profile to supporting EV Charging Stations. SIRC not only competes in that industry through its PLEMCo., subsidiary, it has also recently announced it has signed an LOI to acquire three LA-based complementary EV Charging Station companies in that industry, as well.

Ford Motor (NYSE: F) reported a record-breaking net profit of $17.9 billion for 2021 — yet roughly half of that profit was a paper gain made on Ford’s equity in the successful Rivian Automotive (NASDAQ: RIVN) electric car IPO last Fall.

Meanwhile, in a move that will soon drive demand for EV Charging Stations in North America, General Motors (NYSE: GM) has now raised its sales target for electric vehicles to 400,000 in North America.

Learn more about SIRC at https://www.solarintegratedroofing.com/corporate-governance/leadership/.

Source: Stock Market Press

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Shannon Roxborough

Shannon Roxborough is SMP's senior contributor writer. A financial journalist for more than 20 years, he has covered U.S. and global markets across all sectors. A former correspondent with Money magazine and columnist with Small Cap Investor, his writings have appeared in The Wall Street Journal and numerous other financial publications.