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Developments in the Solar Panel Market

FinancialBuzz.com News Commentary

NEW YORK, October 12, 2017 /PRNewswire/ --

According to data provided in a report by Zion Market the global Solar Panel Market accounted for USD 30.8 billion in 2016 and is expected to reach USD 57.3 billion by 2022, growing at a CAGR of 10.9% between 2017 and 2022. The report indicates that the industry is segmented into residential, commercial and utility. The commercial application segment accounted for the largest portion of the market share in 2016, and the segment is expected to dominate the market in terms of revenue by the end of forecast period despite relatively low growth rates. Residential and utility segments are projected to have higher growth rates during the forecast period due to the increasing awareness, cost efficiency and preferences towards the rooftop solar panel. Solar Integrated Roofing Corporation (OTC: SIRC), Vivint Solar Inc (NYSE: VSLR), Sunrun Inc (NASDAQ: RUN), SunPower Corporation (NASDAQ: SPWR), Enphase Energy Inc (NASDAQ: ENPH)

On October 5th the U.S. Deputy Secretary of Energy, Dan Brouillette, started the Solar Decathlon 2017 event in Denver, CO. This international competition shows consumers how to save money and energy with affordable energy products available today, energy.gov reported. "The Solar Decathlon inspires and challenges college students to think creatively about energy innovation for the future through design," said Brouillette. "Students are actively addressing global energy challenges such as reliability, resiliency, and security by incorporating the use of innovative energy and water efficiency technologies into their professional projects."

Solar Integrated Roofing Corporation (OTC: SIRC) last week the company announced that, "Solar Integrated Roofing Corporation CEO David Massey shares with Donald Baillargeon of MoneyTV the direction of the Corporation with new expanded management team, expanded profits and acquisitions that are in line for 2018." Please watch video at: https://vimeo.com/236007865.

About Solar Integrated Roofing Corp. - Solar Integrated Roofing Corporation (SIRC) is an integrated solar and roofing installation company specializing in commercial and residential properties with a focus on acquisitions of like companies to build a footprint nationally. For more information, please visit: http://www.solarintegratedroofingcorp.com.

Vivint Solar Inc (NYSE: VSLR) earlier in September announced its placement on the Solar Power World Top 500 Solar Contractors List for the fifth consecutive year. Coming off the biggest year ever for U.S. solar installations in our industry, Vivint Solar is pleased to be named one of the top solar contractors in the United States by Solar Power World magazine. Vivint Solar also ranked first on the list of residential solar contractors. "We're pleased to be recognized by Solar Power World as a solar energy leader this year," said David Bywater, CEO of Vivint Solar. "Ranking on this list for five consecutive years underscores our continued commitment to provide consumers with clean and renewable energy and increase their energy independence."

Sunrun Inc (NASDAQ: RUN) together with Comcast announced this August that the two companies have reached an agreement designed to accelerate the adoption of solar energy through the installation of Sunrun's leading rooftop solar products. Under the 40-month agreement, Sunrun will be the exclusive residential solar energy provider for Comcast Cable, and Comcast Cable will serve as one of Sunrun's strategic partners through marketing campaigns in selected markets. "At Sunrun, we know homeowners love the savings, backup power and control they get with our solar energy and storage plans," said Lynn Jurich, Chief Executive Officer at Sunrun. "Our challenge is making homeowners aware that they can save money with solar today. We are excited to work with Comcast to help their customers go solar and save on their electric bills while reducing their dependence on fossil fuels."

SunPower Corporation (NASDAQ: SPWR) announced on October 11th that it has completed the installation of a Texas-sized, 8.79-megawatt solar system spanning across four parking garages at Toyota Motor North America's new 100-acre headquarters in Plano, Texas. SunPower was also responsible for the original design of the solar system. "Toyota's new campus serves as a model for corporate sustainability and an inspiration for others looking to reduce their own carbon emissions and environmental footprints," said Nam Nguyen, SunPower Executive Vice President. "With SunPower's carport solutions, our experienced design and construction teams delivered long-span, garage top solar canopies that fully incorporate the Plano site's unique structural conditions. As the trusted solar partner for 70 percent of the top 20 commercial solar users nationwide, SunPower is proud to work with a world-class company like Toyota on this groundbreaking project."

Enphase Energy Inc (NASDAQ: ENPH) announced recently that it has partnered with Waaree Energies Limited (Waaree), India's largest Tier 1 solar panel manufacturer. Waaree will join forces with Enphase to produce an AC solar module (ACM) for the Indian market. This is the first ACM partnership that Enphase Energy has established in India. The Waaree Enphase AC modules will be assembled and shipped directly from Waaree's PV module factory, located in Surat in a 500MW state of the art facility that is one of India's largest PV module factories. "Enphase Energy is the first global microinverter technology company to partner with Waaree to integrate our technology onto their solar modules," said Nathan Dunn, Managing Director of Enphase Asia-Pacific. "Together, we will work toward delivering more affordable solar power to commercial and residential customers in India."

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