FinancialBuzz.com News Commentary
NEW YORK, Oct. 5, 2021 /PRNewswire/ — Demand for solar energy is on the rise around the world. In the U.S., the second quarter of 2021 has also seen impressive gains in implementation of solar. According to the Solar Energy Industries Association (SEIA) the U.S. installed 5.7 gigawatts (GWdc) of solar PV capacity in Q2 2021 to reach 108.7 GWdc of total installed capacity, enough to power 18.9 million American homes. The U.S. officially surpassed 3 million installations across all market segments, the vast majority of which are residential systems. Before the investment tax credit (ITC) fully phases down under current law, the solar industry is set to continue to break annual installation records every year for the next three years. OPTEC International, Inc. (OTC: OPTI), SPI Energy Co., Ltd. (NASDAQ: SPI), Babcock & Wilcox Enterprises, Inc. (NYSE: BW), Sunworks, Inc. (NASDAQ: SUNW), ReneSola Ltd. (NYSE: SOL)
SEIA has also announced recently that it is increasing its goal for Solar+ Decade, aiming for solar to account for 30% of U.S. electricity generation by 2030. The organization’s previous goal was 20% by 2030, and this revision aligns with the Biden administration’s clean energy targets while accounting for the growing urgency to tackle climate change and reduce carbon emissions in the electricity sector. To meet 30% solar by 2030 and President Biden’s clean energy goals, the solar industry must double its deployment pace. Without bold, long-term policy investments, solar will only account for 15% of electricity generation by 2030, far short of what is needed to reduce emissions and address climate change.
OPTEC International, Inc. (OTC: OPTI) announced breaking news last week that, “the company plans to start production of the trailer mounted solar generators in October at the Vista, California facility.
The company previously intended to begin production pre pandemic and parked the project due to limited access for employees and components during the pandemic crisis.
The OPTEC Solar Generator is a trailer-mounted mobile generator designed to meet the off-grid generation of power. It satisfies the needs of environmentally conscious customers across a variety of industries which includes but is not limited to military and homeland security applications, emergency preparedness and shelters, disaster relief, electric vehicle charging, telecommunications, agricultural sectors, construction sites, sporting events, and entertainment. This state-of-the-art technology produces pure, uninterrupted pow er while advancing national, state, and local initiatives to cut carbon emissions while also offering both Federal and State incentives to the purchaser and simultaneously providing Endless conveyable energy.
The OPTEC Solar Generator is powered exclusively by pure solar energy and does not require any alternative fuels. While operating, it is completely silent and generates zero emissions.
The trailer mounted solar generator is designed for not only specific emergency power on demand situations such as Disaster relief emergency power for Tornado, Hurricane, Flood, Fire and other emergency uses. The equipment is easily transportable and equipped for airlift accessibility for hard to reach areas. In addition to emergency situations the generators are ideal for construction sites first set-up offering zero emission power for site cabin and small power tool operations. The generator offers many other options including Military operations, back up generator support for hospitals, senior centers, schools and cellphone towers during power outage situations.
Optec will introducing the Trailer Mounted Solar Generator information to the company’s website along with all technical data relating to power output and capabilities.”
SPI Energy Co., Ltd. (NASDAQ: SPI) announced on September 13th, its wholly owned EdisonFuture Motor (“EdisonFuture”) subsidiary plans to launch its next-generation electric delivery van. “Our vision for EdisionFuture is to be leaders in sustainable transportation with focuses on and innovative design, energy efficiency and purpose-driven mobility applications. This new product will enable last mile delivery fleets significantly reduce the carbon impact of their operations,” stated Mr. Xiaofeng Denton Peng, Chairman & Chief Executive Officer of SPI Energy. “We are very excited about this revolutionary vehicle and look forward to introducing it at major events in the near future.”
Babcock & Wilcox Enterprises, Inc. (NYSE: BW) announced on September 15th, that it has signed a definitive agreement to acquire a majority ownership stake in Illinois-based solar energy contractor Fosler Construction Company Inc. (“Fosler Construction”), significantly enhancing its capabilities in solar energy. “This transaction aligns with B&W’s aggressive growth and expansion of our clean and renewable energy businesses,” said Kenneth Young, B&W Chairman and Chief Executive Officer. “Fosler Construction is an established leader in the commercial and utility solar business, and we’re excited about the many opportunities we see to work together to capitalize on a North American solar market that is expected to have a high rate of growth over the next five years.”
Sunworks, Inc. (NASDAQ: SUNW) announced on August 26th, that it has signed an agreement with CBG Building Company to provide a 752.4kW carport solar system for Orchard Park, a 1,549-bed student housing project on the University of California, Davis (UC Davis) campus. “California is the nation’s leader in deploying clean, renewable energy, a trend that is accelerating rapidly,” commented Gaylon Morris, Chief Executive Officer of Sunworks. “The University of California system is an active participant in that effort. Utilizing the real estate and supporting infrastructure of the project, such as covered parking structures, to deploy solar fixtures is a great way to reduce energy costs and enable the generation of clean, renewable power. Sunworks is an expert in the design, deployment, and integration of solar energy generating systems and we are excited to work with CBG Building Company and the entire Orchard Park Team on this important project.”
ReneSola Ltd. (NYSE: SOL) announced on September 17th, that European Solar Energy Development JV, the joint venture company established between ReneSola Power and Eiffel Investment Group (“Eiffel”), completed the acquisition of its first batch of solar projects with a combined capacity of 200MW in multiple European countries, including Spain, France and Poland. Eiffel provided the capital to fund the development of those projects. Mr. Josef Kastner, CEO of ReneSola Power European Region, commented, “We are excited by today’s announcement, as this portfolio is a first significant step for the JV to develop up to 700MW of solar projects over the next several years. ReneSola Power is committed to accelerating solar development in Europe, and with the joint venture company created with Eiffel, we expect to develop high-quality projects in Europe, propelling growth in the region.”
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