Roofing Industry Sees Golden Opportunity In Roofing And Solar Demand As Biden Readies $6 Trillion Green Energy Initiative, But Faces A Challenge In Shortage Of Roofing Materials In Supply Chain Disruption;

Summary

• Roofing Industry Sees Golden Opportunity In Roofing And Solar Demand As Biden Readies $6 Trillion Green Energy Initiative, But Faces A Challenge In Shortage Of Roofing Materials In Supply Chain.

Just as President Biden is accelerating its proposed $6 trillion green energy initiative for renewables such as solar, the roofing industry sees supply disruption as a challenge obtaining raw materials — such as fasteners and even trucking support, according to the National Roofing Contractors Association (NRCA). It’s a time of golden opportunity when demand for roofing and solar work is at an apex as the Biden administration seeks new green energy initiatives. The raw materials shortages also come at a particularly sensitive time, March and April, early in the roofing year, according to Roofing Contractor magazine. Storms are common in Texas and Oklahoma and have a major impact on roofing repairs and demand — note the major hail and tornado storm there more than one week ago.

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Roofing Industry Sees Golden Opportunity In Roofing And Solar Demand As Biden Readies $6 Trillion Green Energy Initiative, But Faces A Challenge In Shortage Of Roofing Materials In Supply Chain Disruption; Solar Integrated Roofing Corp.’s (OTC PINK: SIRC) Sees Bright Outlook For Roofing Expansion To Texas

Reid Ribble, CEO of the NRCA, said it is important for contractors to be realistic about lead times as the industry faces material shortages and supply issues — even thought the roofing industry sees new business opportunities. On the positive side, he said, are three rounds of federal stimulus money and a softening of the COVID-19 crisis. As a result, he sees a return to normal supply levels for roofers after one full-roofing season cycle. David Massey, CEO of Solar Integrated Roofing Corp.’s (OTC PINK: SIRC), is also an optimist. He sees roofing demand growth in Texas — especially from storms such as tornados and hail. The desire for roofing with solar is also a growth factor, he said. Roofing Industry Sees Golden Opportunity In Roofing And Solar Demand As Biden Readies $6 Trillion Green Energy Initiative, But Faces A Challenge In Shortage Of Roofing Materials In Supply Chain Disruption; Solar Integrated Roofing Corp.’s (OTC PINK: SIRC) Sees Bright Outlook For Roofing Expansion To Texas.

Look no further than the major storm that hit Texas and Oklahoma more than one week ago. Damage was estimated at larger than $1 billion in Oklahoma and perhaps as high as $3.5 billion in the two states from a triple combination of 4-inch hail and tornados. The damages include roofs which need repair. David Massey is right about roof replacement and repaid being a lucrative market in Texas. SIRC-owned Cornerstone Construction already operates in five states -- including Tulsa, Oklahoma. Brad Barron of Cornerstone Construction, a firm acquired by Solar Integrated Roofing Corp. (OTC PINK: SIRC), was recently featured on regional TV news giving insurance advice after a tornado and hail storm damaged roofs in another state, South Carolina, where the company is based.

Owens Corning: Roofing Industry Is Resilient

Scott Schumacher, VP of Owens Corning Roofing, said, “The events of the last year reinforced many lessons for us. First among them was that our industry is resilient. In a time of unprecedented uncertainty, everyone in the roofing industry was challenged to adapt the way they operated to maintain their businesses.”

David Massey, CEO of SIRC, said of the supply headwinds, “My only concern is material. With COVID, a lot of the plants have shut down, there is a material shortage and there are cost increases. We have the labor pretty well covered but if manufacturers in the roofing can keep up with demand, then we can keep up and materials are my only concern.”

In addition to its entry into clean energy sectors such as solar, solar batteries such as Tesla’s (NASDAQ: TSLA) Powerwall and EV Charging Stations, the core of SIRC’s original business is roofing. David Massey, CEO of SIRC, told MicroCap investors at a recent Planet MicroCap virtual conference, that he sees a bright future in Texas. Massey said, “We sincerely feel like Texas, especially just after having a storm, is a prime, prime area for roofing and solar and that is kinda storm country there. When they get hail storms there, the roofs fly off the shelves. They are selling 100-200 roofs a day. In California, that is like three months of work for us so it’s an exciting market and we are really excited to get in that market.”

SIRC Acquires Cornerstone Construction To Become A National Leader In Roofing And Solar Solutions

Solar Integrated Roofing Corp.’s (OTC PINK: SIRC) acquisition of Cornerstone Construction, which is based in South Carolina and operates in five states, solidifies its roofing/solar nationally. In a recent test designed to attract more affluent millennial customers, Cornerstone Construction — through new partner Coinbase Commerce — last month announced it will begin accepting cryptocurrency as payment. Roofing Industry Sees Golden Opportunity In Roofing And Solar Demand As Biden Readies $6 Trillion Green Energy Initiative, But Faces A Challenge In Shortage Of Roofing Materials In Supply Chain Disruption; Solar Integrated Roofing Corp.’s (OTC PINK: SIRC) Sees Bright Outlook For Roofing Expansion To Texas.

This financial integration is an effort by SIRC to attract a younger, more affluent millennial customer while cutting fee costs associated with traditional financing and reducing fraud-related chargebacks or mistakes. David Massey, CEO of SIRC, said if the cryptocurrency trial phase is successful with Cornerstone Construction it would be added as a payment option at other company subsidiaries. He sees the strategy as an ‘additional competitive element’ of SIRC’s growth and a ‘key marketing highlight’ for reaching its millennial customers.

David Massey, CEO of Solar Integrated Roofing Corp.’s (OTC PINK: SIRC), said, “This new purchasing option will add an additional competitive element to our growth strategy and will be a key marketing highlight for our millennial customers. If successful we expect to add this payment option at other subsidiaries to add value to our customers, and in turn, our shareholders and investors.”

In addition to roofing and solar, Cornerstone also offers customers design and installation services for solar and solar shingle arrays that integrate seamlessly into new and existing roofing systems. It also offers roof repairs, replacement services, gutters, windows, siding and decking.

Learn more about SIRC at Leadership - SIRC IR.