LONDON, October 18, 2017 /PRNewswire/ --
According to data published by Advanced Energy Now, the Advanced Electricity Generation segment was the second largest advanced energy segment in the United States and reaching $52.2 billion in 2016, while experiencing 8% year-over-year growth. This segment is led by Solar, Wind, and Gas Turbines, which represents over a quarter of the U.S. Advanced Energy market. Crystal Market Research indicates that the solar rooftop market is anticipated to reach about USD 4.14 billion by 2022 and growing at a significant compound annual growth rate (CAGR) of 9.70% during the forecast period. Solar rooftops, particularly in residential application is propelling this market further. North America is accountable for major market share in the global segment of solar rooftop owing to fast adaptation of the Third-party ownership model. Solar Integrated Roofing Corporation (OTC: SIRC), Sunworks Inc (NASDAQ: SUNW), TerraForm Global Inc (NASDAQ: GLBL), JA Solar Holdings Co., Ltd. (NASDAQ: JASO), Sunrun Inc (NASDAQ: RUN)
"It would be hard to overstate how impressive 2016 was for the solar industry," said Abigail Ross Hopper, president and CEO of the Solar Energy Industries Association. "Prices dropped to all-time lows, installations expanded in states across the country and job numbers soared. The bottom line is that more people are benefitting from solar now than at any point in the past, and while the market is changing, the broader trend over the next five years is going in one direction - and that's up."
Solar Integrated Roofing Corporation (OTC: SIRC) announced breaking news yesterday that, "they have entered into a national agreement with TPO, third-party-ownership and finance company, to enhance their financing options for their solar and roofing customers."
"Bottom line, we have basically eliminated any financial roadblocks for our customers to go solar. This agreement will make our expansion into new areas much easier and more streamlined," said CEO Dave Massey. "Under these types of arrangements, a resident or business hosts a renewable system that is owned by a separate investor."
The company is working with Sunrun and offering their financing to all of Solar Integrated's clients. The homeowner simply pays a low, locked-in rate for the power that's produced, typically saving 20% on their electric bill.
"This arrangement helps us expand our footprint," added Massey. "Electric utility companies have sent letters to consumers recently, warning of California-Mandated High Usage Charges going into effect next month. These surcharges can dramatically increase electric bills. Our range of financing and TPO options now makes it easy for our customers to decide to go solar, because in every case, they will be saving money from day one. It simply makes no sense to not go solar."
Sunworks Inc (NASDAQ: SUNW) announced recently a new, 521 kW solar and battery construction for Angelus Temple in Los Angeles. The project, which was awarded to Sunworks on September 25, 2017, will be managed entirely by Sunworks and will assist Angelus Temple by eliminating over $100,000 in annual electricity costs while also eliminating the impact of inflationary energy costs. The savings realized will allow funds to be used for greater impact within the community it serves. Sunworks' Chief Executive Officer, Chuck Cargile, said, "We're excited to partner with Foursquare to develop a sustainable energy plan that optimizes their energy savings. Angelus Temple has a long history in Los Angeles and we are pleased to assist them in achieving their sustainability goals and drive greater cost savings."
TerraForm Global Inc (NASDAQ: GLBL) is a renewable energy company. TerraForm serves a wide range of utility, commercial, industrial and government customers through diversified energy production with 40+ projects across 70+ sites in the world's largest emerging markets. The company's projects are supported by Power Purchase Agreements with creditworthy counterparties, with an average remaining life of 19 years.
JA Solar Holdings Co., Ltd. (NASDAQ: JASO) in August announced that it won the contract to supply 50 MW(AC) of modules for the country's first utility-scale solar project in Malaysia. Located in Sabah, the 50MW utility-scale inaugural project marks a significant milestone in solar energy development in Malaysia, which has gained lots of attentions from Ministry of Energy, Energy Commission, Sabah Electricity and senior government officials. Cao Bo, JA Solar's Vice President commented, "We are excited to partner with one of our largest customers, SPIC, again in an overseas market. We believe this win demonstrates our value proposition and technical innovation with high-performance solar modules. We have invested USD163 million in our Penang, Malaysia manufacturing operation to produce poly and mono cells with the annual capacity of 1000MW. From the China-Malaysia relationship standpoint, investing in manufacturing facilities and sharing our technical expertise in Malaysia, a rapidly growing market, remains our top priority. Additionally, we look forward to serving our global partners and customers by providing the highest-quality solar products and services."
Sunrun Inc (NASDAQ: RUN) recently announced that together with Givepower will partner with firefighters to deliver dollar and water systems to puerto Rico. The effort, which was coordinated on the ground in partnership with San Juan fire chief Alberto Cruz and Las Vegas fire captain Richard Birt, includes the delivery and installation of solar-powered micro-grids at two fire stations on the island, as well as the deployment of three solar-powered water desalination systems, five innovative water production systems, and three portable solar-powered units to remote communities on the island.
Subscribe Now! Watch us report from NYSE https://www.youtube.com/FinancialBuzzMedia
Follow us on Twitter for real time Financial News Updates: https://twitter.com/financialbuzz
Follow and talk to us on Instagram: https://www.instagram.com/financialbuzz
Facebook Like Us to receive live feeds: https://www.facebook.com/Financialbuzz/
FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.
For further information: