Jun 08, 2021 (Stock Market Press via COMTEX) -- A new study by MarketDigits predicts the EV Charging Station Industry will reach $28 billion by 2026, growing at the fast-rate of 44.8% CAGR in a five year period as key auto makers and EV Charging Stations operators charge forward, including: General Motors (NYSE: GM), Tesla, Inc. (NASDAQ: TSLA), Blink Charging Co. /zigman2/quotes/205311237/composite BLNK -5.27% , Solar Integrated Roofing Corp. (OTC PINK: SIRC), ChargePoint /zigman2/quotes/214140886/composite CHPT -3.04% and prominent retailers such as 7-Eleven (OTC: SVNDY) and Macy's (NYSE: M). They are others are putting an all-out push to install EV Recharge Stations to support the Biden Administration's move to expand electric vehicles in the U.S.
stockmarketpress.com features specialized coverage of related stocks in the solar, roofing, EV charging stations and battery charging energy industry such as Solar Integrated Roofing Corp. (OTC PINK: SIRC), Sunrun, Inc. /zigman2/quotes/205021014/composite RUN -2.40% , Blink Charging Co. /zigman2/quotes/205311237/composite BLNK -5.27% , Tesla, Inc. (NASDAQ: TSLA), GM /zigman2/quotes/205226835/composite GM -1.10% , SolarEdge Technologies, Inc. /zigman2/quotes/207754270/composite SEDG -1.87% , First Solar, Inc. /zigman2/quotes/209356097/composite FSLR -0.07% , SunPower (NASDAQ: SPWR), Gibraltar Industries, Inc. /zigman2/quotes/204241548/composite ROCK -0.89% , Spartan Acquisition Corp. II (NYSE: SPRQ). and Canadian Solar Inc. (NASDAQ: CSIQ).
Study Predicts EV Charging Station Industry Will Hit $28 Billion By 2026 Growing At A 44.8% CAGR Over Five Year Period As Sector Takes Off; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Grows Its EV Dedicated Division And Sets Plans For The Future
At the time America is seeking to quickly build a network of EV Charging Stations to give potential EV vehicle customers confidence they can drive anywhere with a charging station available to them, New York is moving on its goal of having more than 10,000 EV Charging Stations in place by the end of 2021 . To that end, Gov. Andrew Cuomo announced a total of 150 charging stations to be built at LeFrak City -- a large residential complex in Queens, New York.
New York plans to install the first 20 EV Charging Stations there by the end of 2021, he said, with the rest in place by 2024 or 2025. This installation will be one of the largest in New York State and the wider Northeast region. 7-Eleven has announced it will build 500 EV Charging Stations at select stores in the U.S. and Canada by the end of 2022.
The study by MarketDigits analyzes the growth of the EV Charging Market by region and brand -- reflecting the fast growth of this clean energy sector internationally. At just under 2% of all new car sales, EV vehicles in the U.S. are seen as falling behind the European embrace of electric vehicles. It is hoped that the growing network of EV Charging Stations in the U.S. and Canada will propel more electric vehicle sales in North America. Study Predicts EV Charging Station Industry Will Hit $28 Billion By 2026 Growing At A 44.8% CAGR Over Five Year Period As Sector Takes Off; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Grows Its EV Dedicated Division And Sets Plans For The Future.
General Motors (NYSE: GM) -- taking its lead from the Biden Administration -- is getting ready for its scheduled all-electric fleet of 30 new cars by 2025 by teaming with seven EV Charging Station firms under the 'Ultium Charge 360 Plan' that will begin rolling out in 18 months that will become a network of 60,000 charging plugs throughout the U.S. and Canada. GM's program will offer real time charging data to drivers of their EV cars.
As part of the plan, General Motors (NYSE: GM) is teaming with: Blink Charging (NASDAQ: BLNK), ChargePoint /zigman2/quotes/214140886/composite CHPT -3.04% , EV Connect, EVgo, FLO, Greenlots and SemaConnect. Already, the rollout is beginning with about 500 installs of fast-charging stalls will be complete by the end of 2021, GM says. The Biden Administration is working on a and EV renewable energy initiative which calls for the building of 500,000 EV Charging Stations and a fleet of 600,000 all-electric government-owned vehicles.
GM is readying its EV vehicles and EV charging stations. Study Predicts EV Charging Station Industry Will Hit $28 Billion By 2026 Growing At A 44.8% CAGR Over Five Year Period As Sector Takes Off; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Grows Its EV Dedicated Division And Sets Plans For The Future.
Solar Integrated Roofing Corp. (OTC PINK: SIRC) Growing In EV Charging Station Market
Seeking a share of this lucrative market, companies like Solar Integrated Roofing Corp. (OTC PINK: SIRC) is growing its dedicated EV Charging Station division. SIRC completed its first acquisition in this space when it bought Pacific Lighting Management or PLEMco.
President Biden as part of his proposed $6 billion infrastructure package, has included in that spending some $174 billion for EV vehicles. Already, EV vehicle buyers can receive $7,500 in tax credits per car. Biden will sweeten that with more rebates this Fall to spur EV car sales in the future.
Rebates and tax credits will be increasingly used by the U.S. government to grow the EV vehicle population in the nation -- which, in turn, will trigger the need for more EV Charging Port Stations. Currently, EV vehicles represent only 2% of all new cars sold in the U.S. -- far lower than China and Europe. President Biden is proposing $6 trillion in its renewable energy infrastructure initiative.
SIRC Focuses On EV Charging Stations And More Green Energy Growth, Such As Solar
To launch its dedicated EV Charging Station division, SIRC acquired Pacific Lighting Management or PLEMco, an operator of EV Charging Stations. SIRC plans to continue its acquisition strategy in the sector, David Massey, CEO, told an audience of MicroCap investors at a recent virtual conference. Clean green energy is a focus of SIRC as it continues to grow fast primarily by acquisitions. Solar Integrated Roofing Corp. (OTC PINK: SIRC) is growing fast in solar primarily through company acquisitions.The most recent was East Coast based and five-state operational Cornerstone Construction which makes SIRC a national brand. Cornerstone Construction is a solar and roofing solutions provider.
Solar Integrated Roofing Corp. (OTC PINK: SIRC) is growing Its solar Green Energy footprint both in residential rooftop installations and solar-generated energy storage as a certified Tesla (nasda:TSLA) Powerwall battery installer. Study Predicts EV Charging Station Industry Will Hit $28 Billion By 2026 Growing At A 44.8% CAGR Over Five Year Period As Sector Takes Off; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Grows Its EV Dedicated Division And Sets Plans For The Future.
Learn more about SIRC at https://www.solarintegratedroofing.com/corporate-governance/leadership/ .
Source: Stock Market Press
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