NEW YORK, October 20, 2017 /PRNewswire/ --
According to a research by Bloomberg New Energy Finance (BNEF), significant advances continue to work their way through the
Solar industry. An important technological development is expected to make renewable energy more affordable. BNEF pointed out the
introduction of diamond wire saws to slice multicrystalline silicon ingots into wafers can reduce the amount of silicon required
for each wafer by as much as 17%. Only 2% of multicrystalline wafer production used this method in 2016, and it is expected that
by 2020, all production will be converted. Manufacturers will also continue to cut costs by reducing the amount of silver used in
electrical components, and investing in fluidised bed reactors to produce silicon more cheaply. A research 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, while growing at a CAGR of 10.9% between
2017 and 2022. Solar Integrated Roofing Corporation (OTC: SIRC), Canadian Solar Inc. (NASDAQ: CSIQ), Amtech Systems, Inc.
(NASDAQ: ASYS), TerraForm Power Inc. (NASDAQ: TERP), Vivint Solar, Inc. (NYSE: VSLR)
A report by the Deloitte points out the importance of declining costs in the renewable energy sources. "Due to the declining
costs of solar and wind technologies as well as the anticipation of a more carbon-constrained future, today the global growth of
renewable energy is increasingly driven by voluntary procurement by utilities and corporations. We've seen an especially rapid
decline in the global levelized cost of electricity (LCOE) of solar photovoltaic (PV) generation. These improving economics are
empowering many customers to seek greater control over their energy choices, and a movement toward localized energy procurement
seems to be underway," Deloitte reports.
Solar Integrated Roofing Corporation (OTC: SIRC) announced earlier this week that "they have entered into a national
agreement with TPO, third-party-ownership and finance company, to enhance their financing options for their solar and roofing
customers."
"Bottom line, we have basically eliminated any financial roadblocks for our customers to go solar. This agreement will make
our expansion into new areas much easier and more streamlined," said CEO Dave Massey. "Under these types of arrangements, a
resident or business hosts a renewable system that is owned by a separate investor."
The company is working with Sunrun and offering their financing to all of Solar Integrated's clients. The homeowner simply
pays a low, locked-in rate for the power that's produced, typically saving 20% on their electric bill.
"This arrangement helps us expand our footprint," added Massey. "Electric utility companies have sent letters to consumers
recently, warning of California-Mandated High Usage Charges going into effect next month. These surcharges can dramatically
increase electric bills. Our range of financing and TPO options now makes it easy for our customers to decide to go solar,
because in every case, they will be saving money from day one. It simply makes no sense to not go solar."
Canadian Solar Inc. (NASDAQ: CSIQ) is one of the world's largest and foremost solar power companies. As a leading
manufacturer of solar photovoltaic modules and provider of solar energy solutions, Canadian Solar also has a geographically
diversified pipeline of utility-scale power projects in various stages of development. Recently, the company announced that a
wholly owned subsidiary of the Company and a few subsidiaries of Menora Mivtachim Holdings Ltd., one of Israel's five largest insurance and finance groups, entered into a joint venture agreement with the aim to
invest in the development, financing, construction and ownership of solar power projects in Israel. A total of US$60 million is expected to be raised from Menora
Mivtachim and Canadian Solar, with each party contributing an equal investment amount. The joint venture will finance the solar
projects awarded by Israeli Electricity Authority under the solar power tenders and other solar projects to be developed under
the partnership.
Amtech Systems, Inc. (NASDAQ: ASYS) is a global supplier of advanced thermal processing equipment to the solar,
semiconductor / electronics, and LED manufacturing markets. Amtech's equipment includes diffusion, ALD and PECVD systems and
solder reflow systems. On April 25, 2017, the company announced its solar subsidiary, Tempress
Systems, received a follow-on order for the second phase of a multi‑phase 1GW project, in addition to the order for the first
phase announced in January 2017. This turnkey order for the second phase is similar in size and
includes Tempress' high-throughput PECVD and diffusion platforms, which have been sold to other top tier customers in
China, Malaysia, and Taiwan.
The first and second phases of this China project are designed to manufacture high efficiency
n-type bi-facial solar cells and modules at an attractive cost per watt.
TerraForm Power Inc. (NASDAQ: TERP) is an owner and operator of a best-in-class, 2,600+ MW renewable power portfolio
including solar and wind assets primarily in the U.S. TerraForm Power is ideally positioned to capitalize on the growth in
renewable power generation. TerraForm Power has considerable potential to grow both organically and through the acquisition of
new facilities, including through its sponsor and majority shareholder Brookfield Asset Management. TerraForm Power focuses on
acquiring, owning and operating solar and wind assets in North America (including Mexico) and Western Europe. Recently, the company announced the closing of
its previously announced merger and sponsorship transaction. Brookfield Asset Management has assumed the role of TerraForm
Power's sponsor and Brookfield, together with its institutional partners, is now TerraForm
Power's controlling shareholder, holding 51% of its outstanding common shares.
Vivint Solar, Inc. (NYSE: VSLR) is a leading full-service residential solar provider in the
United States. On September 27, 2017, the company 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.
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