This week, Solar Integrated Roofing Corp. (OTC PINK: SIRC) launched its own dedicated EV Charging Solutions Division, joining fast-growing Tesla, Inc. (NASDAQ: TSLA) and Blink Charging Co. (NASDAQ: BLNK) in the electric vehicle (EV) charging sector. David Massey, CEO of SIRC, said the company would address both the residential and commercial market infrastructure for network operators.
stockmarketpress.com features specialized coverage of related stocks in the solar, roofing 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), SolarEdge Technologies, Inc. (NASDAQ: SEDG), First Solar, Inc. (NASDAQ: FSLR), SunPowerCorp. (NASDAQ: SPWR), Gibraltar Industries, Inc. (NASDAQ: ROCK) and Canadian Solar Inc. (NASDAQ: CSIQ).
Fast-growing Tesla, Inc. (NASDAQ: TSLA) And Blink Charging Co. (NASDAQ: BLNK) Are Brand Names In EV Charging Station Sector; Now Solar Integrated Roofing Corp. (OTC PINK: SIRC) Launches Dedicated EV Charging Solutions Division
Key to the growth of the new division will be cross-selling of existing customers as well as through the potential acquisition of existing EV charging providers. Massey said the future is bright as electric vehicles accounted for 7.84% of new cars in California in 2018. California has a legislatively targeted goal for all new cars to have zero emissions by 2035.
SIRC To Leverage Existing Customer Base, explore EV Charging Acquisitions
Massey, CEO of Solar Integrated Roofing Corp. (OTC PINK: SIRC), said, "I am pleased to announce the launch of our newest initiative to aggressively enter the EV charging space, addressing a large, rapidly growing market with significant regulatory tailwinds. We intend to leverage our existing customer base for improved cross-selling opportunities and to explore acquisitions of existing EV charging solutions providers to position us to grow market share over the long term. I look forward to continued execution into 2021 as we work to create sustainable value for our shareholders."
EV charging is a sector seen with great growth globally. Electric Vehicles Charging Stations (EV) are projected to reach $29.7 Billion globally by 2027 growing at a CAGR rate of 39.8% from 2020, according to research by Meticulous Research. In the U.S. market, both Tesla, Inc. (NASDAQ: TSLA) and Blink Charging Co. (NASDAQ: BLNK) are major players. Tesla, Inc. (NASDAQ: TSLA) stock rose yesterday as Goldman Sachs analysts upgraded the stock. BLINK stock more than tripled in November. Yesterday, its stock rose again when it was announced that Blink will open EV charging stations at key Burger King locations in the Northeast.
Solar And EV Stations Have Much In Common
EV charging solutions providers and solar energy battery storage systems are a niche key to the boom in solar, enabling homeowners to cut electricity costs and store energy for evening and cloudy day usage. As a result, Verified Market Research now projects that the solar battery market is growing at a CAGR OF 34.5% and will reach $1.8 billion by 2026 as solar continues its dynamic growth. Even Tesla, Inc. (NASDAQ: TSLA) markets its own Powerwall line of lithium-ion solar batteries.
Solar Integrated Roofing Corp. (OTC PINK: SIRC), is forecasting a record-breaking $40 million volume by FY 2922, is setting goals for expansion to more markets, a future up listing, and more acquisitions. Fast-growing Tesla, Inc. (NASDAQ: TSLA) And Blink Charging Co. (NASDAQ: BLNK) Are Brand Names In EV Charging Station Sector; Now Solar Integrated Roofing Corp. (OTC PINK: SIRC) Launches Dedicated EV Charging Solutions Division.
More Revenue Streams For SIRC Are Coming
One growth areas is HVAC, another is its joint venture with Enerev, LLC, a third is its recent announcement that it will enter the new home market with several San Diego, California builders to install solar roofing and systems. Key in the final opportunity is cross-seeking of solar energy batteries. The niche solar energy battery storage market is projected to reach $1.8 billion by 2026, growing at a CAGR of 34.5%. Key to SIRC is additional cross-selling revenue by selling new home buyers solar battery units such as Tesla Inc.'s (NASDAQ: TSLA) own Powerwall line of lithium-ion solar batteries.
Solar Integrated Roofing Corp. (OTC Pink: SIRC) this week announced it is launching a new dedicated EV Charging Solutions Division and that puts SIRC in line with several of the growth sectors pursued by Tesla: solar, solar storage energy batteries and now electric vehicle (EV) residential and commercial charging stations. Fast-growing Tesla, Inc. (NASDAQ: TSLA) And Blink Charging Co. (NASDAQ: BLNK) Are Brand Names In EV Charging Station Sector; Now Solar Integrated Roofing Corp. (OTC PINK: SIRC) Launches Dedicated EV Charging Solutions Division.
Solar Storage Battery Systems Key To Solar Industry Growth
According to site SolarReviews, Solar battery systems can range in price and capability — some even save enough electricity to permit a homeowner to store enough energy to be off the 'grid.' Generally, battery systems consist of a charge controller, battery bank and a hybrid or two-way inverter. Coupled with solar panels installed on the roof, a great system can pull a home off the costly energy grid. At minimum they can deliver significant long-term electricity cost savings.
Niche Solar Battery System Growth Appeals To Solar Marketers, Installers
Research firm Verified Market Research reports that the solar energy and battery storage market is projected to reach $1.8 billion by 2026 growng at a CAGR of 34.5% from 2019-2026. That kind of growth is appealing to solar installers and makes solar and its savings even more appealing to homeowners. Within its Southern California market, Solar Integrated Roofing Corp. (OTC PINK: SIRC) has been fast-growing with organic and acquisition growth. Now it is increasing its solar growth into more metropolitan markets and other states.
Solar Integrated Roofing Corp. (OTC PINK: SIRC) Expands Into New Mexico
Solar powerhouse Solar Integrated Roofing Corp. (OTC PINK: SIRC) sees multiple expansion opportunities. One is its recent expansion into New Mexico where it is expanding into the Albuquerque/Santa Fe metropolitan market with its recent partnership with SunPower Corporation as a premier dealer.
SIRC Projects FY 2022 Volume Hitting Record-Breaking $40+ Million
SIRC projects that its volume will report a record breaking $40+ million in fiscal 2022 revenues, ending February 28, 2022. Solar Integrated Roofing Corp. (OTC PINK: SIRC) forecast that it would report record volume of $20 million for FY 2021, ended February 28, 202.
Solar Integrated Roofing Corp (OTC PINK: SIRC) Sees Expansion Beyond California And Becoming Industry Leader At The National Level
Solar Integrated Roofing Corp (OTC PINK: SIRC) sees legislation this year requiring that all new residences in California must operate on energy by solar as an expansion of the solar market. Best to come: copycat legislation in other states to mandate solar installations on new construction residences.
This market is growing fast and Solar Integrated Roofing Corp. (OTC PINK: SIRC), headquartered in Southern California, is now expanding into more states as it eyes its goal of national growth, a stock market up listing and a larger national footprint. Learn more about Solar Integrated Roofing Corp. (OTC PINK: SIRC) at its website.
Source: Stock Market Press
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