Brian Milholland, President Of Solar Integrated Roofing Corp. (OTC PINK: SIRC), Calls 2021 ‘Solar Coaster’ Boom Year With Solar Tax Credit Driving Residential Solar Installation Sales And Commercial Fleet EV Buys Sparking Company’s EV Division
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Summary
- Brian Milholland, President Of Solar Integrated Roofing Corp. (OTC PINK: SIRC), Calls 2021 ‘Solar Coaster’ Boom Year With Solar Tax Credit Driving Residential Solar Installation Sales And Commercial Fleet EV.
Brian Milholland, President Of Solar Integrated Roofing Corp. (OTC PINK: SIRC), is looking forward to 2021, terming it a ‘fun year’ or the ‘Solar Coaster’. He said longer electric drive range on a single charge estimated at upwards of 500+ miles and the move by commercial fleets to EV will spark peak sales within SIRC’s dedicated EV charging station division. “You’re definitely going to see more fleets moving toward electric,” he said. He also believes the Solar Tax Credit in 2021 will drive residential solar installations next year and possibly beyond.
stockmarketpress.com features specialized coverage of related stocks in the solar, roofing and battery charging energy industry such as Solar Integrated Roofing Corp. (OTC PINK: SIRC), Sunrun, Inc. (NASDAQ: RUN), Blink Charging Co. (NASDAQ: BLNK), Tesla, Inc. (NASDAQ: TSLA), SolarEdge Technologies, Inc. (NASDAQ: SEDG), First Solar, Inc. (NASDAQ: FSLR), SunPowerCorp. (NASDAQ: SPWR), Gibraltar Industries, Inc. (NASDAQ: ROCK) and Canadian Solar Inc. (NASDAQ: CSIQ).
Brian Milholland, President Of Solar Integrated Roofing Corp. (OTC PINK: SIRC), Calls 2021 ‘Solar Coaster’ Boom Year With Solar Tax Credit Driving Residential Solar Installation Sales And Commercial Fleet EV Buys Sparking Company’s EV Division
In an interview on Money TV, Milholland said that he was looking forward to 2021 because it offers Solar Integrated Roofing Corp. (OTC PINK: SIRC) significant growth opportunities in commercial EV charging stations and more solar installations due in part to the Solar Tax Credit advantage. Brian Milholland, President Of Solar Integrated Roofing Corp. (OTC PINK: SIRC), Calls 2021 ‘Solar Coaster’ Boom Year With Solar Tax Credit Driving Residential Solar Installation Sales And Commercial Fleet EV Buys Sparking Company’s EV Division.
California may be in a pandemic shut down crisis, but Solar Integrated Roofing Corp. (OTC PINK: SIRC) is successfully utilizing a virtual sales model that calls for online sales by its sales team with potential customers. As a result, SIRC reported a record $5.3 million in preliminary unaudited sales for Q3 FY 2021. That represents a 130% volume jump compared to the same period the prior year.
EV Vehicles Reach 500+ Miles On A Single Charge, Boosting Sales
Milholland in the interview said that only some five years ago EV vehicles were constrained in popularity because they could only travel some 200 miles on a single battery charge. Today, he said, the longer 500+ mile EVs can travel makes them more desirable. “That’s fantastic,” he declared. By 2035, California will make mandatory EV non-carbon emission vehicles for new car sales. Commercial fleets of trucks will also be drawn to EV vehicles as single-charge distances are increased, he said. SIRC’s dedicated EV charging division should benefit from that achievement, he said.
Solar Installations Offer A Four-Year Payback In Savings
The Solar Tax Credit extends into 2021 and helps homeowners defray immediate solar system installation costs. Whether or not it is extended beyond 2021, Milholland believes in 2021 it will “ramp up solar installations tremendously” as homeowners seek to take advantage of the tax break. In California, solar systems are mandatory this year in all new residences. Even if the tax break is not in force beyond 2021, he said, a four-year payback through solar system installation savings is desirable to homeowners even in the scenario of a cash purchase. Considering that most solar systems have a 40-year life expectancy, Milholland said the cost-cutting benefits of solar in addition to helping create a clean environment are important factors in homeowners showing a 2021 and beyond preference for solar systems.
As a result of these trends, Solar Integrated Roofing Corp. (OTC PINK: SIRC) is looking forward to 2021 as the ‘Solar Coaster’ year of industry opportunity. Brian Milholland, President Of Solar Integrated Roofing Corp. (OTC PINK: SIRC), Calls 2021 ‘Solar Coaster’ Boom Year With Solar Tax Credit Driving Residential Solar Installation Sales And Commercial Fleet EV Buys Sparking Company’s EV Division.
Entering The All-Electric Clean Air Farming Equipment Market: Another Reason For Optimism
Mulholland also was bullish on SIRC’s announced entry into the all-electric clean environment tractor farming market when it signed an agreement to provide solar panels and related equipment with electric tractor manufacturer and developer Solectrac, Inc. Solectrac, Inc., is an applicant of a $500 Million USTDA (United States Trade And Development Agency) grant. “We’re looking to provide solar infrastructure for some of those sales in other countries. That really excites me.”
Adding New CFO, Achieving $25 Million Run Rate And Acquiring Related Companies
David Massey, CEO, said in aThe Stock Market Podcast interview podcast with host Jane King and a letter to SIRC shareholders that the company is working hard to achieve an initial up listing to the OTCQB tier and long term to the NASDAQ exchange. He said SIRC is close to completing a required financial audit and finalizing Form-10. This past year, SIRC has achieved a run-rate of $25 million in revenues. It has also formed alliances with numerous related companies as it grows in volume and expands its geographic footprint. SIRC has completed its expansion into the Albuquerque, New Mexico market and is now exploring opportunities in the Phoenix, Arizona metropolitan area.
Attractive Multiples, Acquisitions Seen In Existing And Complementary Adjacent Markets
David Massey said, “With services now spanning solar, battery backup, EV charging, roofing installation, HVAC work and electrical contracting, we are well positioned to tackle increasingly large opportunities — such as entire new residential developments with our builder partners throughout California. I look forward to aggressive growth going into the fourth quarter and beyond.”
Naming SunPower, Forming Joint Venture With Enerev, LLC
Employing virtual sales successfully during the pandemic, Solar Integrated Roofing Corp. (OTC PINK: SIRC) has built a record of organic growth, sales increases by acquisition and multiple-revenue streams from an expanding geographic footprint into more states and alliances with more firms. One is naming SunPower Corporation as its premier solar dealer as it expands into New Mexico. Another is its joint venture agreement with Enerev, LLC. Brian Milholland, President Of Solar Integrated Roofing Corp. (OTC PINK: SIRC), Calls 2021 ‘Solar Coaster’ Boom Year With Solar Tax Credit Driving Residential Solar Installation Sales And Commercial Fleet EV Buys Sparking Company’s EV Division.
SIRC Sees $40+ Million Volume In FY 2022
SIRC projects that its volume will report a record breaking $40+ million in fiscal 2022 revenues, ending February 28, 2022. Solar Integrated Roofing Corp. (OTC PINK: SIRC) forecast that it would report record volume of $20 million for FY 2021, ended February 28, 202.
Goldman Small Cap Research Likes SIRC
Solar Integrated Roofing Corp.'s (OTC PINK: SIRC) Sales Projected To Reach $38.5 Million In FY 2022, $90 Million In FY 2023 At Substantial Positive Profit In Both Years; $0.25 Price Target Set For 3-6 Months: Goldman Small Cap Research.
Learn more about Solar Integrated Roofing Corp. (OTC PINK: SIRC) at its website.
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