Two Green Industries Teaming Up: Solar and Cannabis
New York, NY July 30, 2019 – Stock Market Press is a leading financial news company that delivers up to date stock news, introduces private and public companies to a wide audience of investors, consumers, journalists and the general public via social media and a rapidly expanding network reviews latest developments in the surveillance world.
The 2018 Farm Bill changed the landscape of Hemp Cannabis, paving the way for a ‘new’ industry to flourish. While Hemp has been used for millennia, it had been labeled as a controlled substance by the US Government. The 2018 Farm Bill lifted this restriction causing a massive expansion across the country of Cannabis farming and processing. The secondary effect of this new market growth has been a significant increase in energy consumption. Enter: Solar energy and companies like Solar Integrated Roofing Corp (OTC PINK:SIRC) and Tesla, Inc. (NASDAQ:TSLA).
Solar Integrated (OTC PINK:SIRC) released an update last week detailing their growth and acquisitions plans for the next year. Details emerged on 3 acquisitions, one of which will generate $1M per month in revenues for the company, pushing their yearly revenues over $20M.
The rooftop solar market is expected to rise dramatically by 2025, reaching global market of over $75B according to industry analysts (Zion Market Research article). In addition, the US solar market installed almost 3GW of solar PV in Q1 2019 according to an SEIA report with a projected 15GW of annual installations by 2024.
Companies like Tesla, Inc. (NASDAQ:TSLA) and Solar Integrated Roofing Corp (OTC PINK:SIRC) are capitalizing on this huge spike in energy demand. Hemp cultivation and processing is only expected to increase over the coming years as more states approve grower and processor licenses. Industrial hemp market is projected to reach over $13B by 2026 according to Reports and Data. Additionally, marijuana continues to see further easing of restrictions in various states, furthering energy demands.
Taking advantage of rooftops to lay down solar is providing new ‘land’ for solar expansion in urban and suburban locations, something solar farms are unable to do. States, like California, are further increasing demand for rooftop solar with the recently passed regulations which begin in 2020, requiring all new construction to include rooftop solar. Combine this with the hemp and marijuana grower legalization and the synergy between these markets is amazing.
Greenhouses and processing facilities, like those of Canopy Growth Corporation (NYSE:CGC) and Choom™ (CSE:CHOO) (OTCQB:CHOOF), will benefit greatly from rooftop solar as the greenhouses provide massive amounts of solar ‘real estate’ along with the processing facilities thereby reducing their external energy needs. Reduced expenses and increased output will see significant increases in revenues and profits, as can be seen with Sproutly Canada, Inc (CSE: SPR) (OTCQB: SRUTF), which recently announced cultivation at 50% over design capacity. Solar panels generate most of their energy from visible light and some from the infrared spectrum while very little is generated from the UV spectrum, allowing for the newer solar panels that allow light to pass through to be extremely efficient and effective at generating energy while providing the UV light plants need to grow.
The fast growing Canadian cannabis market
The balance of 2019 should see a continued increase across the board for rooftop solar with 2020 bringing about a major jump in demand due to the combination of factors mentioned above: cannabis legalization, rooftop solar favorable regulations and technological advancement in solar PV cells.
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