Palm Beach, FL – July 14, 2021 – The sun rises every day, and every day so does the global solar power market. Its time has come. Solar power is the cleanest and most plentiful renewable energy source present on the planet. A recent report from Grand View Research said that the U.S. solar PV market is expected to witness significant growth on account of growing demand in commercial and residential segments. Subsidies and favorable regulatory framework are anticipated to drive market growth over the next several years, plus a sharp decline in equipment cost owing to a rise in installations particularly in California and New York are expected to continue through 2028. Another report from Fortune Business Insights projected that the global solar power market is expected to grow from 184.03 billion in 2021 to 293.18 billion n 2028 at a CAGR of 6.9%. The Grand View report added: “Application segments including residential, non-residential, and utility are expected to witness an increased number of installations. The residential sector has witnessed a significant upsurge over the past few years, on account of rising consumer awareness regarding environment protection coupled with subsidized module cost. In addition, low maintenance cost for solar PV as compared to other power generating units has resulted in a substantial demand for these modules over the past few years and the trend is anticipated to continue over the forecast period.” Active Companies in the markets today include Green Stream Holdings Inc. (OTCPK: GSFI), SunPower Corp. (NASDAQ: SPWR), Sunnova Energy International Inc. (NYSE: NOVA), JinkoSolar Holding Co., Ltd. (NYSE: JKS), Canadian Solar Inc. (NASDAQ: CSIQ).
Grandview continued: “Reduced carbon emission during electricity generation as compared to other sources of energy coupled with the availability of varied sizes of PV modules has led to a huge demand for solar PV over the past few years. Furthermore, the availability of solar radiation across the U.S. has assisted in the market growth over the past five years. Module prices for solar PV have declined over the past few years owing to the presence of various federal subsidies and rise in module installations. Furthermore, raw material prices for manufacturing solar cells have also declined sharply owing to various technological and manufacturing improvements. Supportive regulations involving federal subsidy and various state incentives are expected to augment market growth over the forecast period. Furthermore, technological advancements in solar PV module manufacturing coupled with declining raw material prices are expected to be key market drivers.”
Green Stream Holdings Inc. (OTCPK:GSFI) BREAKING NEWS: Green Stream Holdings, Inc., Signs Initial Host Site For Community Solar Program; 25 Year Model Program With Expected Project Revenues In Excess Of $13 Million – Green Stream Holdings Inc. (“the Company”) (http://www.GreenRainSolar.com ), an emerging leader in the solar utility and finance space, which has recently announced projects in the rapidly growing urban gardening sector with solar greenhouses dedicated primarily to rooftop farming, and which announced project to convert old shipping/cargo containers into inexpensive greenhouses for urban and inner city neighborhoods, has today announced that it has signed up its initial Host Site For Its Community Solar Program.
CEO James DiPrima said: “This first deal, is a 25 year lease which is projected to generate over $13 million dollars for the project over the term and is our template for other similar deals which are already in progress.”
Host Sites serve the unmet customer base of those people/businesses that do not have the rooftop or other area on their property to house the company’s solar technology infrastructure. It also enables owners of large properties to generate revenue by hosting a community solar project on their rooftop, parking lot, or open space.
Community-solar is a New York state shared solar program which offers all utility customers the opportunity to switch to solar at no cost, with nothing on their roof or property, and receive immediate savings on their electric bill and revenues from the leasing of their property.
The Company’s Agreement with the school will generate 1.53 megawatts covering all the parking lots on site of Christ the King high school located in Middle Village, Queens, New York. This community solar project not only helps the school, which will receive yearly fees for the 25 year term, for the leasing of the land, but will also help the surrounding community by lowering its energy costs.
CEO James DiPrima said: “The benefits for the Host Sites is that they can monetize their roof, land, or parking lot, create a new income stream, build a low cost + clean power plant, contribute to a regional economy and support healthier communities. This is a basic of our model for this and other communities.
Subscriber benefits are immediate financial savings, Pay-as-you go options, access benefits of clean energy even if they can’t install on their own property and supports healthier communities.”
Green Rain Solar has been working with New York State; the PSC, NYSERDA, Governor’s Office for the past 10 years, helping pass the Community-Solar legislation. Green Rain Solar Consulting has partnered with the leading roofless community shared solar providers, offering individual customers a seamless transition to automatic monthly savings.
CEO James DiPrima said: “The program is available to all New York utility customers – residential, business, nonprofit, and renters; Nothing on your home or office building; $0 upfront cost, $0 ongoing costs – ever; Instant 15% to 25% savings on your electric bill 25+ years of savings; Move to a location and the savings stay with you (as long as you move within the same utility zone); Optimally situated and fully maintained solar arrays for maximum power generation; and Internet and smart-phone monitoring to easily track performance and savings.” CONTINUED… Read this full release for Green Stream Holdings at: https://www.financialnewsmedia.com/news-gsfi/
Other recent developments in the markets include:
SunPower Corp. (NASDAQ: SPWR), a leading solar technology and energy services provider, recently announced it has further delivered its balance sheet with the full retirement of its 2021 convertible bond. “The full repayment of our 2021 convertible bond, in addition to the repayment of our CEDA loan in the second quarter, materially reduces recourse debt while improving our expected return on invested capital,” said Peter Faricy, CEO of SunPower. “We believe our balance sheet now provides us the business model flexibility to quickly capitalize on new growth opportunities including expanding our residential market footprint and enabling further investment to drive a superior customer experience.”
“I joined SunPower due to what I see as a tremendous opportunity for solar in the U.S.; less than three percent of U.S. homes currently have solar and storage is still in its infancy. I continue to believe that to significantly increase category growth, the adoption of distributed energy needs to be easy, reliable and affordable,” said Faricy.
Sunnova Energy International Inc. (NYSE: NOVA) recently announced the pricing of its latest securitization of leases and power purchases agreements. “We are pleased to report the pricing of a ground-breaking securitization of third party owned (“TPO”) solar and storage assets,” said Robert Lane, Chief Financial Officer of Sunnova. “We were able to achieve our tightest spread over the interest rate benchmark to date for a TPO solar and storage asset securitization, reflecting the high-quality assets in the pool. Further, this is the solar sector’s first ever securitization re-financing collateral from a pre-existing securitization. Finally, we have structured this transaction to align the debt service of the assets more closely with their cash flows, which in turn allows us to bring more cash to the corporate level and bring us closer to our goal of issuing a bullet-maturity green bond.”
The single-tranche securitization consists of $319.0 million in A- (sf) rated 2.58% notes at a 76.4% advance rate, representing a spread to the benchmark swap rate of 140 bps. The A- rated notes carry a weighted average life of approximately 7.46 years through the Anticipated Repayment Date of April 30, 2031 and have a final maturity of April 28, 2056.
JinkoSolar Holding Co., Ltd. (NYSE: JKS), one of the largest and most innovative solar module manufacturers in the world, recently announced that its principal operating subsidiary Jinko Solar Co., Ltd. has signed a strategic cooperation agreement with Maersk (China) Shipping Co., Ltd. (“Maersk”).
The two companies will jointly conduct multi-dimensional cooperation based on existing end-to-end transportation agreements, and explore in-depth cooperation in digitalized logistics services to provide clients with a range of comprehensive logistics solutions, and to create a green logistics ecosystem.
Mr. Kangping Chen, CEO of JinkoSolar Co., Ltd., commented, “As an international container shipping company with integrated logistics capabilities, Maersk has been an important strategic partner for JinkoSolar since 2017. We are very pleased to expand our strategic cooperation with Maersk, and deepen our resources to jointly develop flexible and convenient solutions to manage the current shortage of containers due to the pandemic and improve transport efficiency. As the world’s leading integrated module manufacturer, we remain optimistic about the growth in demand for solar energy and expect increasing shipment capacity will provide strong support for our global shipment growth over the next few years. By leveraging our mature global customer marketing system, together with Maersk’s extensive network of end-to-end integrated transportation and logistics expertise, we believe that we will be able to share more timely information and provide long-term premium logistics solutions to our global customers.”
The project was awarded in the public tender launched by Colombia’s Ministry of Energy and Mines, via its affiliate UPME, the Mining and Energy Planning Unit. Located in the city of Barranquilla in northern Colombia, this project will consist of a 45 MWh lithium-ion battery energy storage system and is expected to reach commercial operation by June 2023. The project is granted with a 15-year revenue structure with the Colombian government and is indexed to the country’s inflation or producer price index. The Barranquilla project will strengthen the electricity transmission network in the Atlántico Department in northern Colombia and support the government’s efforts to prevent future supply deficits. It will also support a greater penetration of renewable energy in the Colombian electricity system by improving the reliability of intermittent sources of energy.
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