Over Next Five Years, Why Revenues for Solar Farm Developers Industry Are Expected To Steadily Rise
Palm Beach, FL – September 14, 2021 – FinancialNewsMedia.com News Commentary – Solar power is more affordable, accessible, and prevalent in the United States than ever before. From just 0.34 GW in 2008, U.S. solar power capacity has grown to an estimated 97.2 gigawatts (GW) today. This is enough to power the equivalent of 18 million average American homes. Today, over 3% of U.S. electricity comes from solar energy in the form of solar photovoltaics (PV). According to Energy.gov, since 2014, the average cost of solar PV panels has dropped nearly 70%. Markets for solar energy are maturing rapidly around the country since solar electricity is now economically competitive with conventional energy sources in most states. Solar’s abundance and potential throughout the United States is staggering. PV panels on just 22,000 square miles of the nation’s total land area – about the size of Lake Michigan – could supply enough electricity to power the entire United States. Solar panels can also be installed on rooftops with essentially no land use impacts, and it is projected that more than one in seven U.S. homes will have a rooftop solar PV system by 2030.” Active Companies in the markets today include Green Stream Holdings Inc. (OTCPK: GSFI), Sunrun Inc. (NASDAQ: RUN), ReneSola Ltd (NYSE: SOL), Canadian Solar Inc. (NASDAQ: CSIQ), Enphase Energy, Inc. (NASDAQ: ENPH).
Energy.gov continued: “Moreover, the solar industry is a proven incubator for job growth throughout the nation. American solar jobs have increased 167% over the past decade, which is five times faster than the overall job growth rate in the U.S. economy. There are more than 250,000 solar workers in the United States in fields spanning manufacturing, installation, project development, trade, distribution, and more. Solar energy hasn’t reached its full potential as a clean energy source for the United States, and significant work remains to be done to drive deployment of solar technologies. Solar hardware costs have fallen dramatically… Technological advances and innovative market solutions are still needed to increase efficiency, drive down costs, and enable utilities to rely on solar for baseload power.” A report from IBISWorld added: “Over the (next) five years, revenue within the Solar Farm Developers industry is expected to increase more steadily, albeit at a slightly slower pace… In general, the capital costs associated with developing and constructing a new solar farm are expected to continue falling over the next five years due to an excess supply of solar panels as well as general improvements and advancements in solar power technology, which will reduce the per-kilowatt-hour (kilowatt of electricity generated in one hour) cost of solar power…”
Green Stream Holdings Inc. (OTCPK:GSFI) BREAKING NEWS: Green Stream Holdings, Inc. Applying For Two Utility Interconnection Agreement For Ground-Mount Solar Farms – Green Stream Holdings Inc. (“the Company”) (http://www.GreenRainSolar.com ), an emerging leader in the solar utility and finance space, recently announced that it had engaged a nationally known a full service engineering solutions provider with extensive international expertise in the solar renewable energy field providing photovoltaic design and engineering services, to assist the Company in installing several ground-mount solar farms in the State of New York.
The Company previously contracted with KMB in order to have them conduct solar feasibility studies for three separate locations. Each site is 37 acres. The studies have been completed on two of the sites, This interconnection applications are for Cornish Hill Road, Cooperstown, NY and Hadley, S Shore Road, Corinth, NY 12822 sites.
CEO James DiPrima said: “An Interconnection Agreement is a contract with a utility for distributed generated systems, including solar photovoltaics. The agreement is a written notice to a utility company of plans to construct, install and operate any system which will be connected to the grid and must be submitted prior to the start of construction. After the utility receives the required documentation, the application is reviewed for approval.”
He continued: “Management is excited to enter this stage of operations, as it can be an important step in our efforts to continue to increase shareholder value.”
Total Cornish Photovoltaic system will consist of approximately 15,600 panels anticipated to produce 7.4kW of direct current to sequential inverters for participation/partnership with a registered New York State Community Solar provider at 312 Cornish Hill Road, Cooperstown, NY 13326.
The Hadley project shall consist of the installation of 4,980 kWdc / 7,020 kWac of Photovoltaic modules installed on a ground mount racking system at Hadley – PV Installations, S Shore Road, Corinth, NY 12822.
The projects shall be interconnected directly with the utility at one point of interconnection with a new service feeder from the utility substation. The scope of work will include Interconnection Drawings, electrical permit/construction drawings, and support through the construction phase.
The projects shall be interconnected directly with the utility at one point of interconnection with a new service feeder from the utility substation. The scope of work will include Interconnection Drawings, electrical permit/construction drawings, and support through the construction phase. CONTINUED… Read this full release for Green Stream Holdings at: https://www.financialnewsmedia.com/news-gsfi/
Other recent Solar developments in the markets include:
Sunrun Inc. (NASDAQ: RUN) recently, nationally recognized community development organization, Self-Help Enterprises and Sunrun, the nation’s leading home solar, battery storage, and energy services provider, held a ribbon cutting ceremony to celebrate the completion of a new solar installation to 60 affordable rental homes in this agricultural community in the San Joaquin Valley. The Sand Creek solar project is 138 kilowatts, which provides nearly $50 per month bill savings for residents, along with job training in the rapidly growing clean energy sector.
In 2018, Sunrun made a commitment to develop 100 megawatts of solar on affordable multifamily housing in California by 2030 via the state Solar on Multifamily Affordable Housing. Additionally, in 2021, Sunrun pledged to bring at least 500 megawatts of low-income solar to people across the country by 2030. These efforts will bring the benefits of solar to hundreds of thousands of families.
“I’m thrilled that Sunrun and Self-Help Enterprises are expanding solar access and bill savings to renters living in the Central Valley,” said Lynn Jurich, Sunrun’s CEO and co-founder. “This partnership is just getting started.”
ReneSola Ltd (NYSE: SOL), a leading fully integrated solar project developer, recently announced the signing of a strategic partnership agreement with Emeren, a London, United Kingdom-based project developer specialized in the development of renewable energy power plants in Europe and other international markets, to co-develop ground-mounted solar projects in Italy, with a pipeline of several transactions scheduled for 2021.
As part of the agreement, ReneSola Power and Emeren will develop projects in a broad range of sizes across the country, with a target of reaching 110 MW shovel-ready projects by 2022. The two companies expect the collaboration to further strengthen their presence in the Italian market. Mr. Josef Kastner, CEO of ReneSola Power European Region, commented, “We are excited to work together with Emeren. ReneSola Power is committed to accelerating solar development in Europe, and together with Emeren, we expect to bring a range of high-quality projects to the Italian market, enabling further growth in the region.”
Canadian Solar Inc. (NASDAQ: CSIQ) recently announced that its majority-owned subsidiary, CSI Solar Co., Ltd. (“CSI Solar”) has closed a 350 MW / 1400 MWh contract to provide the fully-integrated battery storage system, EPC (engineering, procurement and construction) and long term maintenance service to the Crimson stand-alone battery storage project in Riverside County, California.
The Crimson storage project is 80% owned by Canadian Solar’s wholly-owned subsidiary. Crimson holds two approximately 15-year stand-alone storage contracts with local utilities Southern California Edison (“SCE”) and Pacific Gas and Electric (“PG&E”), which are part of the California Public Utilities Commission’s (“CPUC”) reliability procurements.
Enphase Energy, Inc. (NASDAQ: ENPH), a global energy management technology company and the world’s leading supplier of microinverter-based solar-plus-storage systems, announced recently that it has renewed its partnership with GRID Alternatives, a national nonprofit providing access to clean, affordable, renewable energy, transportation, and jobs to economic and environmental justice communities.
Enphase will continue donating its industry-leading microinverter technology as part of the partnership to help GRID achieve its mission of accelerating a rapid, equitable transition to a world powered by renewable energy. Enphase technology is already powering more than 8,000 homes in low-income communities and communities of color through GRID Alternatives’ ongoing programs. These homes will see an estimated lifetime savings of more than $220 million and help prevent nearly 450,000 tons of greenhouse gas emissions.
“We’re pleased to continue our partnership with GRID Alternatives in support of our mission to advance a sustainable future for all,” said Badri Kothandaraman, President and CEO of Enphase Energy. “As we transition to a new energy future, it’s our shared responsibility to ensure everyone can participate and no community is left behind.”
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