FinancialBuzz.com News Commentary
NEW YORK, Oct. 14, 2021 /PRNewswire/ -- There is strong demand for new alternative, renewable and green energy. In recent years, novel technologies have allowed for more affordable energy storage from alternative energy sources. However, it was the solar sector in particular that went through a surge of implementation, both for residential and commercial purposes. And, according to a research report by Mordor Intelligence LLP, the global solar energy installed capacity is registered to be 728 GW and is estimated to grow to 1645 gigawatts (GW) in 2026, while growing at a CAGR of 13.78% from 2021 to 2026. OPTEC International, Inc. (OTC: OPTI), ReneSola Ltd (NYSE: SOL), SunPower Corp. (NASDAQ: SPWR), Sunworks, Inc. (NASDAQ: SUNW), Canadian Solar Inc. (NASDAQ: CSIQ)
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. 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.
OPTEC International, Inc. (OTC: OPTI) announced breaking news last month 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."
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."
SunPower Corp. (NASDAQ: SPWR) announced on October 5th, it acquired Blue Raven Solar, one of the fastest growing residential solar providers in the U.S. Blue Raven's growth trajectory and complementary geographic footprint is expected to provide SunPower a path to quickly expand the solar market to serve more customers in underpenetrated areas including the Northwest and Mid-Atlantic regions. "More than 100 million homeowners could save money by switching to solar today, and we are committed to enabling that transition quickly to benefit both customers and the planet," said Peter Faricy, CEO of SunPower. "SunPower and Blue Raven share a vision of powering the world with affordable, resilient, sustainable energy. This acquisition will enable us to bring the most powerful and efficient solar technology available to a new set of homeowners and accelerate our growth strategy."
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."
Canadian Solar Inc. (NASDAQ: CSIQ) announced on September 7th, that it has signed long-term Operations & Maintenance (O&M) agreements with two solar PV plus battery storage projects in the U.S., namely, the Slate and Mustang projects which were both developed by Canadian Solar's subsidiary Recurrent Energy and are currently owned by Goldman Sachs Asset Management Renewable Power (Goldman Sachs). Dr. Shawn Qu, Chairman and CEO of Canadian Solar said, "As we expand our market leadership position from solar energy into battery storage project development and systems integration, offering operations and maintenance services in battery storage is a natural extension of Canadian Solar's value proposition. We will continue to add value to our customers by providing the best quality service, maximize production of clean renewable energy and enhance the value of solar and battery storage assets through our O&M services. We are delighted to be selected by Goldman Sachs to provide O&M services to both the Mustang and Slate solar and storage projects and look forward to the long-term partnership."
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