Markets for Solar Energy Maturing Rapidly As Solar Electricity Becomes Economically Competitive

Markets for Solar Energy Maturing Rapidly As Solar Electricity Becomes Economically Competitive

PR Newswire

PALM BEACH, Fla., Dec. 15, 2021

PALM BEACH, Fla., Dec. 15, 2021 /PRNewswire/ -- FinancialNewsMedia.com News Commentary - As technology costs have fallen and efficiencies have increased, providing more energy output per square foot, solar has become one of the primary sources of new electrical capacity installed across the United States. A growing number of landlords and property owners have been installing solar energy systems on rooftops, open land, and canopy-style carports at commercial properties of all kinds. These investments reduce operating costs, promote sustainability, and boost returns on investment. As solar power technology continues to improve with each advancement, the USE of those technologies is also creating a surge in property owners earning new revenues by becoming a host site for solar farms. The positive impact of solar energy on commercial properties continues to expand. An article in Commercial Property Executive, quoting Con Edision Clean Energy Businesses executives, said: "Community solar also delivers community relations benefits by serving as a quiet, clean source of sustainable energy for the local area. Landlords benefit from lower cost energy while positively contributing to the local community by extending the opportunity for lower cost energy to nearby energy users, who become subscribers to the solar energy output. The number of subscribers who can be served varies based on the size of the system and from state to state based upon community solar qualification guidance. As host, you don't need to be a participating subscriber although most hosts choose to subscribe to capture the benefit of lower electricity pricing." Active Companies in the markets today include Green Stream Holdings Inc. (OTCPK: GSFI), ReneSola Ltd (NYSE: SOL), SolarEdge Technologies, Inc. (NASDAQ: SEDG), Sunrun (NASDAQ: RUN), SunPower Corp. (NASDAQ: SPWR).

It article continued: "Beyond asset-by-asset investment in solar, commercial real estate owners in a growing number of states can realize even greater savings and efficiency by participating in an increasingly popular program—community solar… under a community solar approach, if your commercial property can host more solar-based electricity than your property requires, the additional energy produced can be sold for the benefit of the surrounding community. It concluded: "In addition to the revenues earned by serving as the host of a community solar project, the property owner can realize additional savings in energy costs by participating as a subscriber to the energy output of the project. Thanks to the progressive regulatory policies, falling equipment costs, and advancing technology, community solar can offer exciting and financially attractive opportunities for commercial property owners while building a more sustainable world."

Green Stream Holdings Inc. (OTCPK: GSFI) BREAKING NEWS - Green Stream Holdings, Inc. Announces Its Innovative Solar Canopy Designed By Morali Architects and Amergy Solar Inc., and Financed By Green Stream Holdings - Green Stream Holdings Inc. ("the Company") (http://www.GreenRainSolar.com ), an emerging leader in the solar utility and finance space, today announced that its All Faiths Cemetery Solar Facility Project has been approved by The New York City (NYC) Department of Buildings for compliance with all applicable zoning and construction regulations.

The multi-million dollar deal is being financed by Green Stream Holdings, Inc. to cover equipment and installation costs.

CEO James DiPrima said: "The All Faiths Cemetery Project has cleared first phase towards completion of a 3.3 Mega Watt Solar Facility in All Faiths Cemetery, Middle Village Queens NY. We are evaluating 2 back of house areas: Area1. The greenhouse maintenance area covering 52,000 sq ft; and Area2 the Dumping Ground, covering 120,000 sq ft."

The system, which will be approximately 14 ft above grade, will allow for cemetery operations to coexist. It will provide renewable energy via the NYS Community Solar Program. An additional approval by the New York State Board of Directors is required upon which a Con Edison Interconnect Agreement will be applied for. All Faiths Cemetery is in process of finalizing a lease Agreement, which will provide funds to maintain the Cemetery.

According to our current plans, we project to have completed the facility by Sept 1, 2022.   This is wonderful news for shareholders and partners.

The Company previously entered into a contract with Amergy Solar Inc. to provide funds to cover Equipment and Installation Costs for the 7,400kw ground mounted Solar Photovoltaic System Installation for a Solar Farm at 4777 Dewey Ave, Greece, NY 14612.  CONTINUED…  Read this full release for Green Stream Holdings at:  https://www.financialnewsmedia.com/news-gsfi/

Other recent Solar developments in the markets include:

ReneSola Ltd (NYSE: SOL), a leading fully integrated solar project developer, recently announced its unaudited financial results for the third quarter ended September 30, 2021. ReneSola Power's third quarter 2021 financial results and management commentary can be found by accessing the Company's shareholder letter on the quarterly results page of the Investor Relations section of ReneSola Power's website at: http://ir.renesolapower.com.

ReneSola Power is a leading global solar project developer and operator. The Company focuses on solar power project development, construction management and project financing services. With local professional teams in more than 10 countries around the world, the business is spread across a number of regions where the solar power project markets are growing rapidly, and can sustain that growth due to improved clarity around government policies. The Company's strategy is to pursue high-margin project development opportunities in these profitable and growing markets; specifically, in the U.S. and Europe, where the Company has a market-leading position in several geographies, including Poland, Hungary, Minnesota and New York.

SolarEdge Technologies, Inc. (NASDAQ: SEDG), a global leader in smart energy technology, recently announced its financial results for the third quarter ended September 30, 2021.  Third Quarter 2021 Highlights Were: Record revenues of $526.4 million; Record revenues from solar segment of $476.8 million; GAAP gross margin of 32.8%; Non-GAAP gross margin of 34.0%; Gross margin from solar segment of 36.6%; GAAP net income of $53.0 million; Non-GAAP net income of $82.1 million; GAAP net diluted earnings per share ("EPS") of $0.96; Non-GAAP net diluted EPS of $1.45; and 1.9 Gigawatts (AC) of inverters shipped.

"We are pleased with our record revenues in the third quarter amid the unprecedented global logistics and supply chain challenges," said Zvi Lando, Chief Executive Officer of SolarEdge. "Despite a twelve week covid-related shutdown in our Vietnam manufacturing facility during the quarter, we were able to supply products to meet the growing demand of our customers. We are exiting the third quarter with record backlog for the fourth quarter of 2021 and the first quarter of 2022 and will continue navigating the various challenges in order to support our customers' businesses."

Sunrun (NASDAQ: RUN), the nation's leading home solar, battery storage, and energy services provider, and BRIDGE Housing recently held a ribbon cutting ceremony to celebrate the completion of a new solar installation serving 94 affordable rental homes in Suisun City, California. The Cottonwood Creek solar project is 246 kilowatts, which provides nearly $47 per month in bill savings for residents via virtual net metering, along with job training in the rapidly growing clean energy sector.

"Installing solar helps residents save significantly on their utility bills while making our properties more environmentally sustainable," said Ken Lombard, President & CEO of BRIDGE Housing. "We're proud to partner with Sunrun and the SOMAH program to bring renewable energy and job opportunities to communities such as Cottonwood Creek."

SunPower Corp. (NASDAQ: SPWR), a leading solar technology and energy services provider, recently announced SunPower Financial™, a financial services institution designed to make renewable energy affordable for more American homeowners. SunPower Financial will also expand access to underserved populations by supporting a new line of financial products featuring expanded eligibility as well as a 0% interest Annual Percentage Rate (APR) product for qualified customers.

The U.S. residential solar market is expected to quadruple by 2030 with roughly one in eight American homes having solar, according to Wood Mackenzie. With SunPower Financial solutions, homeowners can go solar with no down payment required, lower monthly payments, higher credit limits, and a faster application process. 

"The benefits of solar should be available to all Americans, regardless of their zip code or income," said Jason MacRae, executive vice president of financial products at SunPower. "By bringing financing in-house, we can lower the barrier of entry for U.S. consumers to own their home solar and storage system."

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