- The United States is on track this year to match 2023’s record-level installation of nearly 40 gigawatts of solar capacity
- Idaho-based Correlate Energy Corp. is dedicated to the furtherance of renewable energy adoption by the industrial, commercial, and residential market sectors through Correlate’s financial and analytical services
- Electrical utilities make up the primary sector moving the needle on solar adoption, with Florida and Texas the largest state adopters during the past year
- The U.S. two-year moratorium on some manufactured solar panel imports has freed up supply chain bottlenecks and eased costs to continue advancing the trend
Electric utilities have become the engine moving solar energy adoption in the United States, accounting for 11.8 gigawatts of new energy capacity in the first three months of 2024, according to a June 5 report by Reuters (https://nnw.fm/0Vhja).
Last year the nation installed a record-level amount of solar capacity — nearly 40 gigawatts, according to the report — and the United States is expected to install about the same amount again this year.
The rising pace of solar adoption highlights the positive sentiments surrounding alternatives to carbon-based fuels as well as the financial programs being used as incentives for further adoption. At the same time, research shows most Americans oppose major changes to the way automobiles are manufactured and buildings are powered — often because they “don’t believe the country is ready” (https://nnw.fm/Ycarx).
Distributed energy solutions company Correlate Energy (OTCQB: CIPI) is working to make renewable power accessible to industrial, commercial and residential customers through localized clean energy solutions and microgrids that are affordable to customers while being potentially profitable as well.
The company recently gained attention for expanding its renewable energy adoption services into the largely untapped market delivering energy alternatives to low-income communities, drawing on resources available under the massive Inflation Reduction Act and through its partnership with Energetic Capital.
“Our mission is to make sure distributed energy is fairly distributed,” Energetic Capital CEO Jeff McAulay stated in a news release last month (https://nnw.fm/2xGK6).
“We continually see numerous barriers to deploying renewable energy in cities and towns where most people live and work,” Correlate Energy CEO Todd Michaels added. “We’re working with Energetic Capital to change that.”
A two-year moratorium the U.S. placed on solar panels imported from manufacturing sectors with questionable reputations in countries, such as China, eased supply chain bottlenecks and solar panels costs as well, creating more favorable conditions for solar adoption (https://nnw.fm/Kwh0K).
“Sustainable power generation — solar, wind, and hydroelectric — has become a fairly mature market in the United States, particularly in the utility and residential markets,” Zacks Small Cap Research noted last year (https://nnw.fm/WfsK5). “Government incentives, lower costs for photovoltaic solar panels, and increasing demand for renewable energy solutions have fueled the expansion of solar generating capacity.”
For more information, visit the company’s website at www.Correlate.Energy.
NOTE TO INVESTORS: The latest news and updates relating to CIPI are available in the company’s newsroom at https://nnw.fm/CIPI
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