FinancialBuzz.com News Commentary
NEW YORK, April 17, 2019 /PRNewswire/ -- Non-renewable energy sources such as coal, oil, and natural gas have been increasingly damaging the environment due to their constant use. They impact the environment negatively, as they are responsible, to some degree, for adverse effects such as air and water pollution, damage to public health, wildlife damage, and global warming emissions. The growing concern over climate change and the environment has even prompted government regulators to explore renewable energy sources. Primarily, renewable solutions such as wind, solar, hydro, and geothermal are becoming popular because they cause significantly less harm than non-renewable sources. Generally, companies developing renewable energy harness power from naturally occurring sources and store it within power solutions. These solutions can provide power to homes, businesses, and even towns or cities on a large scale. For instance, solar panels collect power from drawing energy from the sun and can then store the energy and allow for continuous use regardless if the sun is overshadowed by a cloudy day. Consumers are also beginning to become more aware of the growing concerns over non-renewable resources, prompting them to switch to renewable alternatives. In addition, the increasing awareness of environmental safety and sustainability are also further propelling the use of renewable energy sources. According to data compiled by Allied Market Research, the global renewable energy market was valued at USD 1.46 Trillion in 2017 and is expected to reach USD 2.15 Trillion by 2025. Additionally, the market is expected to witness a CAGR of 4.9% throughout the forecast period from 2017 to 2025. Triad Pro Innovators, Inc. (OTC: TPII), General Electric Company (NYSE: GE), Enphase Energy, Inc. (NASDAQ: ENPH), SunPower Corporation (NASDAQ: SPWR), Sunworks, Inc. (NASDAQ: SUNW)
The hydro and ocean power segment accounted for 63% of the market share in 2017 and is expected to hold the largest share until 2025. However, the solar energy segment is expected to witness the fastest CAGR, registering 13.4% during the same period. Largely, the solar energy segment is becoming popular because it is much easier to install in areas where water or wind isn't always common. On the other hand, the use of wind power is also popular because it is the cleanest and most sustainable way to generate electricity, according to the Union of Concerned Scientists, as wind power doesn't emit toxic pollution or greenhouse emissions. Now, regardless of the source of energy, countries are gradually adopting renewable energy legislation because of the Paris Climate Agreement. The Paris Agreement is an agreement within the United Nations Framework Convention for Climate Change intended to deal with climate control beginning in 2020. The Agreement's goal is to keep global temperature below 2 degrees Celsius this century and to pursue efforts to limit the temperature increase further by 1.5 degrees Celsius. Countries that are participating in the agreement are working collectively to reverse the negative impacts caused by the use of non-renewable resources. "It is also clear from the many, many comments by world leaders from China to India and Europe to Latin America and the Pacific that nations everywhere are standing shoulder to shoulder in their determination to achieve the Paris Agreement and move forward as one," said Nick Nuttall, Spokesperson of the UN Framework Convention on Climate Change, "Why? Because it is in everyone's national interest, it is not a straight-jacket but a flexible framework, it offers a road map to a more prosperous, healthier and job generating future and it can assist in avoiding risks to lives, livelihoods and our shared human existence."
Triad Pro Innovators, Inc. (OTC: TPII) yesterday announced breaking news that, "Powered by the Triad Pro eCell & motor array, the SPREE (Solar Powered Renewable Electric Energy) golf car will redefine the economics of how golf carts operate. Paying monthly utility bills, to recharge batteries can be greatly reduced or eliminated as SPREE will continuously top off its charge by utilizing a solar panel embedded in the roof.
Global consumption of golf carts is anticipated to exceed 225,000 units in 2023, in a multi-billion dollar industry, valued at U.S. $2,300,000,000, of which 41% will be in the North American market. Triad Pro projects attaining approximately $70,000,000 worldwide sales of traditional golf and people mover vehicles, by the end of its third production year. This dynamic growth is due to the advantages of utilizing solar power.
With the Triad-Pro eCell installed, the SPREE golf car can run the distance of, at least, an entire round of golf, drawing its charge from, the sun. On cloudy days, it can be fully re-charged in less than 1 hour on a regular 110V outlet. Most golf carts today are powered by lead acid or lithium batteries, which normally take 5 - 8 hours to fully recharge. SPREE requires no monthly maintenance and can save commercial fleet owners thousands of dollars of electrical cost. Additionally, SPREE will be delivered with a 10 year warranty on the eCell and a 1 year bumper to bumper warranty.
Because of lower maintenance and operating costs the solar powered golf cart segment of the global golf cart market is anticipated to grow at a faster rate than other electric and internal combustion models. In addition to the demand provided by golf courses, urbanization and industrialization in other countries is expected to drive the demand for local transportation to carry people and goods.
For additional information about Triad Pro Innovators visit the website at: triadproinc.com"
General Electric Company (NYSE: GE) drives the world forward by tackling its biggest challenges. GE recently announced that it intends to intensify its focus on the growing renewable energy market by consolidating all of the company's renewable and grid assets into a single, simplified Renewable Energy business. Global demand for renewable power generation and the associated grid integration continues to increase globally; the latest report from the International Energy Agency* showed that renewable capacity additions of 178 gigawatts (GW) accounted for more than two-thirds of global net electricity capacity growth in 2017. The proposed moves announced are part of a broader effort on the part of GE to position the company to meet the evolving needs of the power market, including the growth of renewable energy. These moves include: Moving GE's grid solutions and hybrid renewables (including solar and storage systems) technologies into the GE Renewable Energy Business, complementing its existing onshore wind, offshore wind, LM Wind Power, and hydro offerings; Complementing all offerings with digitally enabled services; Streamlining its Onshore Wind structure, eliminating its headquarters layer and elevating its current regional teams-Americas, Europe/Africa, MENAT and APAC - to improve competitiveness, speed, customer focus, and local execution in the Onshore Wind business. GE Chairman and Chief Executive Officer H. Lawrence Culp, Jr., said, "This strategic realignment positions GE to lead in the fast-growing renewable energy market. This move will help our Renewable Energy teams to better support their customers in leading the energy transition by simplifying the way they can access innovative products, integrated solutions, and services that reflect the evolution of the clean energy marketplace."
Enphase Energy, Inc. (NASDAQ: ENPH), a global energy technology company, delivers smart, easy-to-use solutions that connect solar generation, storage and management on one intelligent platform. Enphase Energy, Inc. recently announced that the Company has released its updated Enphase AC Battery (ACB) with a new battery cell supplier and improved Time-Of-Use (TOU) software for customers in Australia, New Zealand and Europe. The modular architecture of the 1.2 kWh AC-coupled Enphase ACB system enables installers to right-size each installation for homeowners' unique energy needs and provides the flexibility to easily add more batteries as their energy usage changes over time. Homeowners can now maximize the value of their solar photovoltaic (PV) systems, taking advantage of self-consumption and more fine-grained TOU tariff management opportunities, with an expandable platform that serves evolving uses for energy storage such as residential peak shifting and grid services. Enphase ACB systems continue to use a Lithium Iron Phosphate (LFP) battery chemistry which provides a high current rating, long lifecycle, excellent thermal stability, and enhanced safety and tolerance. "In addition to the supply chain and TOU software improvements, our new ACB system has an enhanced Battery Management Unit (BMU) designed to effectively monitor the health of the battery and increase the safety and reliability of the product," said Mehran Sedigh, Vice President and General Manager of the energy storage business at Enphase Energy. "We have shipped over 30 MWh of residential energy storage systems to customers in Australia, New Zealand and Europe. Our continued investment in the Enphase ACB reaffirms the commitment to our customers in these regions, in addition to reinforcing our target financial model."
SunPower Corporation (NASDAQ: SPWR), as one of the world's most innovative and sustainable energy companies, provides a diverse group of customers with complete solar solutions and services. Grassroots environmental organization Sierra Club, one of the most enduring and influential in the United States, is providing an opportunity for its more than 3.5 million members and supporters to go solar with SunPower. As part of the new program, participating Sierra Club members or supporters who purchase or lease a SunPower home solar system can receive a USD 1,000 mail-in rebate and SunPower will give Sierra Club USD 1,000 to support the organization's mission. For several years running, SunPower solar panels have ranked No. 1 in the Silicon Valley Toxics Coalition's sustainability scorecard. Its direct current E-Series and X-Series solar panels were the first in the world to achieve Cradle to Cradle Certified Silver designation, demonstrating the product's quality based on rankings in five categories: material health, material reutilization, renewable energy use, water stewardship, and social fairness - areas of importance to Sierra Club and its supporters. These same solar panels are made in a SunPower facility that has qualified for Leadership in Energy and Environmental Design (LEED Gold) based on the environmental attributes of the building's construction, maintenance and operations. The same manufacturing facility has also received Landfill-Free Verification by NSF for achieving less than 1% of waste to landfill. "By making solar more accessible to Sierra Club members, we're advancing the organization's efforts to protect our natural environment while also continuing SunPower's work to change the way our world is powered," said Norm Taffe, SunPower Executive Vice President, residential solar. "SunPower offers industry-leading solar technology that generates 60 percent more energy in the same space than conventional panels over the first 25 years, which means more savings on electricity bills and a lower carbon footprint for customers."
Sunworks, Inc. (NASDAQ: SUNW) is a premier provider of high performance solar power systems. Sunworks, Inc. recently announced a new 1.5 mW solar power and battery storage construction project for Kingston Technology, a world leader in manufacturing memory products and quality technology solutions for PCs, servers, smart phones, cameras and other electronic devices. Construction of the new project is expected to commence in mid-2019 after required utility company approvals at Kingston's corporate headquarters in Fountain Valley, California, and will include a 730kW ballast roof mount system and a 772kW solar carport structure. In addition, Sunworks will integrate a NantEnergy energy storage system that is comprised of 10-30 kW inverters, 10-40 kWh battery banks and control management software. The new system is an integral component of Kingston's plans to reduce its electrical footprint by 20 percent as well as advance its corporate sustainability initiatives. Sunworks Chief Executive Officer, Chuck Cargile, said, "Kingston Technology is committed to innovative technology and has consistently set the industry standards for quality and reliability while maintaining focus on social responsibility. Solar power is a natural way for Kingston to reduce energy costs, enhance environmental efficiency and raise the bar for social responsibility and sustainability. Sunworks is proud to partner with such a high quality organization."
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