Utilities Vs. Rooftop Solar: California Assembly Kills Net Metering Bill Which Would Have Endangered The Future Of Rooftop Solar As Utilities Sought New Grid Access Fees And Lower Rates They Pay For Rooftop Solar Electricity; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Sees Bright Future For Green Energy Such As Solar
In nationally watched vote, California’s Assembly on Friday killed proposed net metering of rooftop solar by voting down bill AB1139, effectively making net metering of rooftop solar a non-issue this year. If passed, the measure would have had a major impact on how California solar consumers pay to access the electrical grid and receive credits from utility companies for solar-generated electricity they sell to the grid. Bill called for new monthly connection or access fees of $50-80 and a sharp reduction in payments homeowners would receive for solar-generated electricity. Net-net the Bill would make solar a less attractive financial savings incentive for homeowners. Other states were watching. For solar installers, it would have made selling solar that much more difficult. Solar Integrated Roofing Corp. (OTC PINK: SIRC) is focused on growing its national footprint in green energy, including solar, EV Charging Stations, rechargeable solar batteries and new roofing.
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).
Utilities Vs. Rooftop Solar: California Assembly Kills Net Metering Bill Which Would Have Endangered The Future Of Rooftop Solar As Utilities Sought New Grid Access Fees And Lower Rates They Pay For Rooftop Solar Electricity; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Sees Bright Future For Green Energy Such As Solar
Utilities in California want solar homeowners to pay new access fees to sell their solar-generated electricity to the central grid. At the same time, these utilities want to pay lower rates for the excess solar electricity they receive from rooftop solar homeowners. It was framed as an issue of equity pitting solar vs. non-solar homeowners residents — or wealthy vs. poor, advocates of the bill said.
Proponents of the bill, including writer and sponsor San Diego Assembly member Lorena Gonzalez, believes that the current situation is an equity issue with poorer electricity customers subsidizing wealthier solar-owning customers. Karrina Gonzalez of Hammond Climate Solutions said, “What is being proposed in Assembly Bill 1139 is the most aggressive attack on rooftop solar that we have seen to date.” Utilities Vs. Rooftop Solar: California Assembly Kills Net Metering Bill Which Would Have Endangered The Future Of Rooftop Solar As Utilities Sought New Grid Access Fees And Lower Rates They Pay For Rooftop Solar Electricity; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Sees Bright Future For Green Energy Such As Solar.
Other solar states are watching this legislative battle over net metering of rooftop solar in California with great interest. While President Biden and his Administration are proponents of solar — and California mandates most new residential homes in the state have solar power — the issue of how solar is metered and accessed to the state electrical grid is of paramount interest to the nation.
Proponents of solar who were in opposition to this Bill know that the victory in the Assembly’s failure to vote it into law is only a one-year win. They say they will be vigilant in fighting against any similar bill in the future — and they expect utilities to continue asking to revisit the net metering issue again. Utilities Vs. Rooftop Solar: California Assembly Kills Net Metering Bill Which Would Have Endangered The Future Of Rooftop Solar As Utilities Sought New Grid Access Fees And Lower Rates They Pay For Rooftop Solar Electricity; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Sees Bright Future For Green Energy Such As Solar.
Solar Integrated Roofing Corp. (OTC PINK: SIRC) Grows Its Solar Footprint
Solar Integrated Roofing Corp. (OTC PINK: SIRC) is focused on growing its national footprint in green energy. It has announced at least $100 million preliminary 12 month revenue guidance through May 31, 2022, reflecting its rapid growth both through acquisitions and organically. David Massey, CEO of SIRC, said the company could grow volume even further in this time period if SIRC continues to populate its acquisition pipeline. SIRC has been rolling up roofers and solar and battery installers creating a true platform company as well as shoring up its back office and sales efficiencies/capabilities to scale nationwide, he said.
If SIRC Further Populates Its Acquisition Pipeline, The $100 Million Guidance Figure Could Grow
Massey said, “We are realizing both acquisitive and organic growth on all fronts while minimizing dilution. Looking ahead, we continue to populate our acquisition pipeline which could further grow this $100 million revenue guidance figure. I look forward to continued operational execution in the months ahead, working closely with our team to create sustainable value for our shareholders over the long-term.
“We accelerated our rapid pace of acquisitions in 2021, rolling up roofers as well as solar and battery installers — creating a true platform company with the back office and sales capabilities to scale nationwide. When taking into account our recently acquired companies, we’ve built a significant customer base across the SIRC family of companies. While there is seasonality inherent to our business and the revenue will not be divided evenly month to month, we expect that we will generate at least $100 million of revenue over the next 12 months with the acquisitions we have announced to date,” he added.
The company pointed out that final recognized revenue is subject to SIRC’s annual and quarterly audits and will, accordingly, be released with the company’s audited financial statements and related annual and quarterly reports once fully reporting. Utilities Vs. Rooftop Solar: California Assembly Kills Net Metering Bill Which Would Have Endangered The Future Of Rooftop Solar As Utilities Sought New Grid Access Fees And Lower Rates They Pay For Rooftop Solar Electricity; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Sees Bright Future For Green Energy Such As Solar.
Solar Integrated Roofing Corp. (OTC PINK: SIRC) recently signed a binding letter of intent (LOI) to continue its renewable energy buying spree and acquire San Diego, Ca.-based Future Home Power, a fast-growing solar and battery storage sales company. David Massey, CEO of SIRC, said Future Home Power would serve as SIRC’s “business development arm” driving a robust project flow for installers already working for the company’s portfolio of roofing and solar firms. Massey believes Future Home Power can scale to a $1 million per week volume flow at 45%+ gross margins as early as June 2021.
Earlier, SIRC had acquired Cornerstone Construction, which is based in South Carolina and operates as a roofer/solar installer and consultant in five markets/states — giving SIRC a national geographic footprint in the industry. Prior, SIRC had purchased Enerev, LLC, a roofing/solar installer.
For its EV Charging Station dedicated division, SIRC acquired Pacific Lighting Management Co. (or PLEMco.) As Its First Purchased Firm In This Fast-Growing Industry.
Learn more about SIRC at https://www.solarintegratedroofing.com/corporate-governance/leadership/.
Source: Stock Market Press
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