Jan 26, 2021 (Stock Market Press via COMTEX) -- Solar stocks jumped in 2020 and experts say expect more of the same in 2021, especially with a Biden Administration showing early it meant what it said about favoring renewables such as solar and wind. In just the first week, Biden stopped the Keystone Oil Pipeline and rejoined the Paris Climate Accords. According to site energysage, solar stocks hit highs last year: First Trust NASDAQ Clean Edge Green Energy Index Fund (NASDAQ: QCLN) was up 87%, Invesco WilderHill Clean Energy ETF (NYSE: PBW) rose 80.3% and Invesco Solar ETF (NYSE: TAN) hit 64.4%. Additionally, Blink Charging Co. (NASDAQ: BLNK) stock rose from $1.25 to greater than $57 per share in one year. Solar Integrated Roofing Corp. (OTC PINK: SIRC) continued its solar stock growth and expansion by closing on a cash and stock transaction to buy solar energy company Enerev, LLC.
stockmarketpress.com features specialized coverage of related stocks in the solar industry such as Solar Integrated Roofing Corp. (OTC PINK: SIRC), SolarEdge Technologies, Inc. /zigman2/quotes/207754270/composite SEDG +0.71% , First Solar, Inc. /zigman2/quotes/209356097/composite FSLR -1.95% , Tesla, Inc. (NASDAQ: TSLA), SunPowerCorp. (NASDAQ: SPWR), Blink Charging Co. (NASDAQ: BLNK), Canadian Solar Inc. (NASDAQ: CSIQ),First Trust NASDAQ Clean Edge Green Energy Index Fund (NASDAQ: QCLN), Invesco WilderHill Clean Energy ETF (NYSE: PBW), Invesco Solar ETF (NYSE: TAN) and Vivienne Solar Inc. .
Solar Stocks See More Spikes Coming In 2021 After Jump Last Year As Biden Administration Favors Renewable Energy; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Stock Leaps In One Year As SIRC Solar Expands
According to site energysage, "Renewable energy, particularly solar energy, is becoming increasingly more accessible to homeowners due to a sharp decrease in pricing, increased availability of community solar projects, and increased availability of battery storage projects. It also cited how the Biden Administration is acting quickly to affirm his commitment to clean energy. Solar Stocks See More Spikes Coming In 2021 After Jump Last Year As Biden Administration Favors Renewable Energy; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Stock Leaps In One Year As SIRC Solar Expands.
SIRC Stock Has Jumped In Past Year As It Doubles Down On Solar Energy.
Solar Integrated Roofing Corp. (OTC PINK: SIRC) last week closed on its acquisition of solar firm Enerev, LLC. SIRC believes that the cash and stock transaction will add up to $2 million per month to its revenue run rate by late calendar year 2021. David Massey said that the purchase provides SIRC with "an exciting cross-selling opportunity for our full complement of products and services across solar, battery backup installation, roofing and related HVAC/electrical contracting work." SIRC last week closed on acquiring Enerev, LLC, established its own dedicated EV charging company, teamed with other builders on solar energy-mandatory new residences in San Diego and recently signed a new agreement to supply clean energy solar support and parts for Solectrac, Inc., an all-electric tractor developer and manufacturer located in Northern California. The company is now 24% owned by Ideanomics /zigman2/quotes/208536109/composite IDEX -3.59% . Solectrac is an applicant for a $500 million USTDA grant and is planning to serve a worldwide farm equipment market.
SIRC And Enerev LLC Are Thriving In The Runaway Solar Industry
SIRC, an integrated single source roofing systems installation company, has grown quickly with organic growth and expansion by acquisition. Enerev has completed more than 9,000 solar energy system installations in residential and commercial properties in California. The residential solar industry has been stimulated by legislation this year requiring that all new residences in California must receive energy by solar. The California solar legislation makes it the first state in the nation to mandate solar usage to drive electricity in residential buildings three stories or lower.
$40+ Million Volume Forecast By Solar Integrated Roofing Corp. (OTC PINK: SIRC) For Fiscal 2022
SIRC projects that its fast-track growth in the California residential market anticipates generating greater than $40 million in fiscal 2022 revenues. In the current 2021 fiscal year, SIRC forecast it would report $20 million in volume for the year ended February 28, 2021. Solar Stocks See More Spikes Coming In 2021 After Jump Last Year As Biden Administration Favors Renewable Energy; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Stock Leaps In One Year As SIRC Solar Expands. SunPower Corporation's (NASDAQ: SPWR) YOY stock performance ranged from $2.64 at the start to $47.20 in after hours trading yesterday.
Multiple Expansion Opportunities For Solar Integrated Roofing Corp. In Hot Solar Market In Southern California, Adjacent States
Within the fast-growing marketplace in Southern California and adjacent states, solar powerhouse Solar Integrated Roofing Corp. (otc pink:SIRC) sees multiple expansion opportunities. The election of Joe Biden as President means a powerful pro-reusable energy policy. California's 2020 laws requiring solar energy in newly-built residences and a national preference for cleaner, efficient homes is setting a solar ecosystem for growth. Solar Stocks See More Spikes Coming In 2021 After Jump Last Year As Biden Administration Favors Renewable Energy; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Stock Leaps In One Year As SIRC Solar Expands.
Source: Stock Market Press
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