Apr 21, 2021 (Stock Market Press via COMTEX) -- A new report finds that Germany is the leading solar market within Europe and Italy and Spain are followups. Despite the impact of Covid-19, the solar energy market is being fueled by Economic Stimulus Funds. The U.S. solar market is seen by companies such as Solar Integrated Roofing Corp. (OTC PINK: SIRC) flourishing in the future as President Biden readies a $2.3 Trillion Infrastructure package supporting the growth of renewables clean energy.
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Germany Leads Solar Growth Race In Europe As Solar Is Driven By Economic Stimulus Funds Despite Covid-19; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Sees U.S. Solar Market Flourishing As Biden Sets $2.3 Trillion Infrastructure For Renewable Energy
"EU Market Outlook For Solar Power 2020-2024, " published this week, shows the resilience of European solar developers and operators in the face of Civid-19's negative impact. It also confirms the dominance of Germany among all major solar markets in Europe as a growing and leading solar marketplace within Europe due to internal consumption and exports of solar energy. Experts see the German leadership in solar growth continuing through 2024.
On a per capita basis -- solar divided by population count -- Germany still leads but by a much thinner margin. The Netherlands and Belgium, on a per capita measurement, follow. The report sees governmental economic stimulus funds in Europe playing a major role in solar's 20% growth through 2024 as delayed or cancelled solar projects due to Covid-19 are erased. See "EU Market Outlook For Solar Power 2020-2024."
Incentivizing Consumers To Buy Solar
In the U.S., solar growth will also be driven by government funding. The Department of Energy (DOE) and its Solar Energy Technology Office (SETO) are making grants of between $300,000-$5 million for solar-thermal research projects and companies expanding solar to new markets. The goal: a decarbonized electricity system by 2035, a 100% clean energy economy with net-zero emissions by 2050. President Trump and President Biden signed into law higher and longer federal tax credits for solar buyers -- incentivizing consumers to buy solar and offering solar installers such as SIRC a booming industry to install more solar roofs and install more solar batteries. This includes Tesla's (NASDAQ: TSLA) Powerwall solar storage battery system. SIRC is an official installer of Powerwall.
Solar Integrated Roofing Corp. (OTC PINK: SIRC) Committed To Solar Energy
SIRC is expanding its solar footprint as Biden seeks more funding for renewable clean energy. Regardless of whether it is related to solar, wind or EV, the clean energy strategy is a Biden administration priority under the "Build Back Better" program. Biden finds himself under pressure from the left wing of the Democratic party to spend even more for renewable energy in the future.
Solar Installations Seen Quadrupling By 2030
All this new federal funding — through tax credits, grants and other incentives -- lead solar lobbying groups, such as SEIA, to predict a quadrupling of solar installations by 2030. That, linked to cost-cutting measures, could mean solar will have far more impact faster on clean energy in the future. EV energy storage is also an important factor of this program -- a classification that Solar Integrated Roofing Corp. (OTC PINK: SIRC) has entered. Germany Leads Solar Growth Race In Europe As Solar Is Driven By Economic Stimulus Funds Despite Covid-19; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Sees U.S. Solar Market Flourishing As Biden Sets $2.3 Trillion Infrastructure For Renewable Energy.