One Of Illinois's Largest Rooftop Solar Power Facilities Operational Thanks To Correlate Energy - Seite 2

"Demand for resilient, clean energy is rapidly growing for corporations and real estate owners across the U.S., and the EnerSys project demonstrates the significant value that can be created with the right partners," said Byrne Huddleston, CEO of Green Bridge when the investment was announced. "At Green Bridge, we deliver positive, long-term economic outcomes for real estate owners transitioning to clean energy."

The Sun Seems To Be Shining On Solar

Continental Envelope and EnerSys are just two examples of the shift on the part of manufacturers and other businesses away from emission-causing energy sources and toward greener options. Solar is a popular choice, providing 30% of the new electricity produced in the U.S. in 2019, according to the U.S. Department of Energy (DOE). That was up from just 4% in 2010.

The cost is also coming down, making it an affordable choice for manufacturers and businesses. At last check installing solar panels cost less than $3 per watt, 65% cheaper than the $8.50 per watt cost a decade ago, the DOE said. As a result of all that, the solar market is projected to reach $373.84 billion by 2029, growing at a CAGR of 6.9% from now through then. In 2023 alone a record 32 gigawatts (GW) of new capacity is expected to be added, marking a 52% increase from 2022.

Correlate Energy is seeing some of that demand firsthand. In addition to Continental Envelope and EnerSys, it counts American Tire Distributors Holdings Inc. and Kyocera Corp. as customers and has a total pipeline of $512 million. Of that, about $152 million is in immediate and active projects, providing everything from solar panels to microgrids.

Solar is in demand as companies move to greener and cheaper alternatives. With the future looking bright, Correlate Energy may have to wear sunglasses.

About Correlate Energy Corp

Correlate Energy, with its focus on commercial, industrial, and residential segments, stands out for its holistic approach to energy solutions. They provide tailored strategies that encompass renewable energy, energy efficiency and utility contract management. The company, with its network of expert partners, executes these strategies, optimizing facility performance and yielding substantial cost savings and profitability. The Harbinger Research report particularly highlights Correlate Energy's commitment to combining organic growth with strategic acquisitions, enhancing its market position.

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SOURCE: Correlate Energy Corp.

View the original press release on accesswire.com


The Correlate Infrastructure Partners Stock at the time of publication of the news with a fall of -8,54 % to 1,445USD on Nasdaq OTC stock exchange (21. Februar 2024, 02:10 Uhr).