"We are very pleased with this acquisition which we will use as a stepping stone into the green energy market which is growing at the most rapid pace ever. In particular, domestic demand for solar panels has been very strong," cited Christopher Hudson, COO of MJP International.
About the Solar Energy Market
According to the Solar Energy Industries Association (SEIA), in the last decade, solar has experienced a compound annual growth rate of nearly 60% and over 200,000 Americans work in the sector. More than 400,000 American workers are expected to serve the sector by 2020.
Furthermore, the cost to install solar has dropped by more than 70% over the last 10 years, leading the industry to expand into new markets and deploy thousands of systems nationwide.
The US solar industry expects to install14.5 gigawatts of solar power in 2016, a 94% increase over the record 7.5 gigawatts last year, according to a new market report by GTM Research and the Solar Energy Industries Association. Revenues from solar installations also increased 21% from 2014 to more than $22bn in 2015.
For the first time, more solar systems came online than natural gaspower plants – the top source of electricity in the US – in 2015, as measured in megawatts, said Justin Baca, vice president of markets and research at the Solar Energy Industries Association. This year, new solar is expected to surpass installations of all other sources, said the US Energy Information Administration.
About MJP International
MJP International is a company that specializes in green energy products and services, including rapidly advancing green technologies such as solar and wind installations. The company is built on the fundamental belief that Green technology is the way to a clean, profitable and energy-rich future. MJP International continually pushes the envelope to find ways for clients to use green technologies in a cost-efficient and user friendly way, firmly believing that renewable and clean energy sources will continue to come to the forefront as viable and economical alternatives to fossil fuel. Investors can visit the company's website at http://www.mjpinternational.com.
This release contains forward-looking statements. Actual results may differ from those projected due to a number of risks and uncertainties, including, but not limited to the possibility that some or all of the matters and transactions considered by MJP International may not proceed as contemplated, and by all other matters and assumptions specified in MJP International's filings with the Securities and Exchange Commission, especially those risks and other matters described under "Risk Factors" within MJP International's Form 10-Q filed with the Commission. These statements are made based upon current expectations that are subject to risk and uncertainty. MJP International does not undertake to update forward-looking statements in this news release to reflect actual results, changes in assumptions or changes in other factors affecting such forward-looking information.
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SOURCE MJP International