Tesla Inc. (NASDAQ: TSLA), Solar Integrated Roofing Corp. (OTC PINK: SIRC), SunPowerCorp. (NASDAQ: SPWR) and other solar companies will benefit from the move by banks and hedge funds worldwide to financially reassert support for clean energy projects, such as solar, while setting deadlines for themselves to eliminate funding for fossil fuel energy for clients and themselves. Under pressure from shareholders and green-friendly governments, from the U.S. to Europe, TSLA, SIRC, SPWR and other solar/green firms find themselves in an enviable position, according to news sites, Bloomberg, Forbes and Nexus Media.
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).
Banks And Hedge Funds Worldwide Seeking Clean Energy Foothold For Solar And Green Funding While Cutting Fossil Fuel Projects; Solar Integrated Roofing Corp. (OTC PINK: SIRC) And Other Solar Companies Will Benefit
HSBC Bank PLC shareholders, according to Bloomberg, are asking the bank in a new resolution to cut its fossil fuel lending exposure. Prior, HSBC itself announced it will cut the net carbon emissions of its client portfolio. It said recently that it would seek to cut the net-carbon emissions of its client portfolio to zero by 2050. It also planned to reach by 2030 net-zero emissions in its own operations. HSBC in the past few years has arranged for $89.1 billion in bonds and loans for solar, wind and other renewable products, Bloomberg reported.
Fossil Fuel Companies Showed A 640% Drop In Value In 2020
According to Forbes, renewable energy is seen reaching a tipping point in 2021with renewable energy companies seen outperforming fossil fuel companies. In 2020, Exxon’s value dropped by 116%and BP suffered a 640% drop in its valuation. In fact, Nexus Media reports that in its waning days the Trump Administration is trying to pressure banks to finance fossil fuel projects in an uphill battle as every major U.S. bank declines to finance drilling in the Arctic National Wildlife Refuge. Hedge funds, such as Amundi SA, Europe’s largest asset manager, and Man Group PLC, the world’s biggest publicly traded hedge fund firm, are backing the resolution to HSBC Bank to cut fossil fuel lending.
Solar Integrated Roofing Corp. OTC PINK: SIRC), Tesla Inc. (NASDAQ: TSLA), SunPowerCorp. (NASDAQ: SPWR) And Other Solar Companies Riding The Trend To Solar
With the Democratic sweep in Washington, solar and other clean air initiatives will be in friendly hands. That will clear the way for solar, all-electric power and other clean air non-carbon emission initiatives. At the California state level, mandates for solar power starting 2020 are already in place. Banks And Hedge Funds Worldwide Seeking Clean Energy Foothold For Solar And Green Funding While Cutting Fossil Fuel Projects; Solar Integrated Roofing Corp. (OTC PINK: SIRC) And Other Solar Companies Will Benefit.
California State Mandates For New Housing Solar And 2013 All-Electric Cars
Sales of all-electric, new and non-carbon footprint EV cars are mandated by the state by 2035. Solar Integrated Roofing Corp. (OTC PINK: SIRC) is focusing on clean air solar and electric vehicles in the future. Recently, SIRC entered into the all-electric energy tractors worldwide farming market sector. SIRC sees the newly-passed federal solar tax credit expansion at a higher 26% through two more years to 2023 as driving even more sales in 2021 and in the future.
SIRC Growing In Green Sectors, From Solar To All-Electric Vehicles And Tractors
Solar Integrated Roofing Corp. (OTC PINK: SIRC) is committed to multiple sectors of clean energy. It has created a dedicated new subsidiary in the EV charging station business and entered clean energy all-electric tractors in a worldwide farm equipment market. It is also entering the new home market in greater San Diego with other builders within a California that mandates all new residences be powered by solar systems. Solar Integrated Roofing Corp. (OTC PINK: SIRC) is breaking sales records as it enters new environmentally-conscious classifications.
SIRC Reports A 130% Q3 FY 2021 Volume Jump
Solar Integrated Roofing Corp. (OTC PINK: 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. Goldman Small Cap Research estimates SIRC sales will reach $38.5 million in FY 2022. In an Update Report, Goldman set a higher $0.75 price target for the next 3-6 months — triple the prior price target.
New Higher And Extended Federal Tax Credit For Solar Seen Leading To More Volume
The heightened and lengthened federal tax credit extension is seen as leading to more fast-growing solar industry expansion. Homeowners will be offered a higher solar tax credit for two additional years to 2023 at a higher tax credit percentage — 26% — when they order a solar roof and system. Banks And Hedge Funds Worldwide Seeking Clean Energy Foothold For Solar And Green Funding While Cutting Fossil Fuel Projects; Solar Integrated Roofing Corp. (OTC PINK: SIRC) And Other Solar Companies Will Benefit.
SIRC Enters EV Charging Stations, All-Electric and Solar Powered Tractors In Worldwide Farm Equipment Market
SIRC’s entry into the clean energy classification and more adjacent sectors, such as EV charging stations and all-energy farming equipment internationally, helps it break volume records. The extension of the higher Federal Solar Tax Credit is seen as great news for Solar Integrated Roofing Corp. (OTC PINK: SIRC), Tesla Inc. (NASDAQ: TSLA), SunPowerCorp. (NASDAQ: SPWR) SPWR and other solar companies.
David Massey, Solar Integrated Roofing Corp. (OTC PINK: SIRC) CEO, 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.” SIRC’s Massey projects that Company’s sales will reach a record breaking $40+ million in fiscal 2022 revenues. Solar Integrated Roofing Corp. (OTC PINK: SIRC) forecasts that it would report record volume of $20 million for 2021.
Learn more about Solar Integrated Roofing Corp. (OTC PINK: SIRC) at its website.