Renewable Energy Defies Pandemic By Setting Records And Accounting For One-Fifth Of All Electricity Produced In The U.S., Bloomberg New Energy Council Reports; Solar And Wind Soar, Fossil Fuels Decli

February 24, 2021 7:55 AM EST

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Despite the pandemic, renewable energy — from solar to wind — has set records by generating and growing to one-fifth of U.S. electricity-generating power, according to the new Bloomberg New Energy Finance and the Business Council For Sustainable Energy report. As fossil fuel use declined, the U.S. actually reached a 9% drop in carbon emissions last year -- close to its Paris Agreement commitment. Only coal and nuclear did not grow their portion of electricity generation last year. Meanwhile, natural gas demand dropped for the first time since the Great Recession of 2009. it said.

stockmarketpress.com features specialized coverage of related stocks in the solar, roofing, EV charging stations and battery charging energy industry such asSolar Integrated Roofing Corp. (OTC PINK: SIRC), Sunrun, Inc. (NASDAQ: RUN), Blink Charging Co. (NASDAQ: BLNK), Tesla, Inc. (NASDAQ: TSLA), GM (NYSE: GM), SolarEdge Technologies, Inc. (NASDAQ: SEDG), First Solar, Inc. (NASDAQ: FSLR), SunPower (NASDAQ: SPWR), Gibraltar Industries, Inc. (NASDAQ: ROCK) and Canadian Solar Inc. (NASDAQ: CSIQ).

Renewable Energy Defies Pandemic By Setting Records And Accounting For One-Fifth Of All Electricity Produced In The U.S., Bloomberg New Energy Council Reports; Solar And Wind Soar, Fossil Fuels Decline

Ethan Zindler, head of Americas research at Bloomberg NEF, said, "It was a year of records but also resilience. I'll be candid in saying (that) about halfway through the year, things looked pretty dire." Renewable Energy Defies Pandemic By Setting Records And Accounting For One-Fifth Of All Electricity Produced In The U.S., Bloomberg New Energy Council Reports; Solar And Wind Soar, Fossil Fuels Decline.

But resilience won out, with the Bloomberg New Energy Finance and the Business Council For Sustainable Energy showing a record year for U.S. Solar installations, reaching 16.5 gigawatts -- beating the last record set in 2014.

New tracking from Bloomberg showed that, when combined with the gains for wind generated energy, the renewables industry grew 11% from the prior year, statistics showed. Renewable Energy Defies Pandemic By Setting Records And Accounting For One-Fifth Of All Electricity Produced In The U.S., Bloomberg New Energy Council Reports; Solar And Wind Soar, Fossil Fuels Decline.

Natural energy still accounted for 41% of all U.S. power generation -- more than any other resource and greater than its share in 2019.

The Bloomberg report concluded that natural gas additions have cut coal capacity, leading to the ultimate goal of decarbonizing. But Zindler questions whether this trend will continue and if the sector can decarbonize within the time frame President Biden has laid out. "I think it's going to be one of the great, interesting challenges of the next four years and beyond."

As the pandemic winds down, renewables energy experts are concerned that the transportation sector -- which accounts for a majority of U.S. emissions -- will rebound as the economy improves and reopens. Renewable Energy Defies Pandemic By Setting Records And Accounting For One-Fifth Of All Electricity Produced In The U.S., Bloomberg New Energy Council Reports; Solar And Wind Soar, Fossil Fuels Decline.

SIRC Is Going Nationwide As A Solar, Clean Energy Provider, With Volatile Stock

Solar Integrated Roofing Corp. (OTC PINK: SIRC) is becoming a nationwide roofing and solar provider. SIRC's entry into a binding LOI for agreeing to purchase Cornerstone Construction, active in five states, is an important acquisition. Throughout 2020, Cornerstone moved strategically into new markets including Charlotte, N.C., Charleston, S.C., Little Rock, Ar., Tulsa, Okla. and Foley, Ala. SIRC stock closed yesterday at $1.37, with a day's range of $1.16- $1.62.

Cornerstone Construction completed 1,000 installs of roofing and solar in 2020, generating over $15 million in sales with robust projected growth." Massey added, "This is an exciting presence that we believe will help grow our acquisition pipeline nationally, helping to create value for our shareholders." To learn more, go to https://cornerstoneconstruction.org/

Solar Integrated Roofing Corp. (OTC PINK: SIRC) Sees A Solar And Renewables Energy Future, Executes A Flurry Of Clean Energy Acquisitions

In addition to recently signing a binding letter of intent to purchase five-state roofing and solar systems installer, Cornerstone Construction, SIRC recently closed on its purchase of California-based solar company Enerev LLC and signed a binding agreement to buy Pacific Lighting Management for its new EV Charging Station Solutions Division.

SIRC Targets End Of February For Closing Of Pacific Lighting Acquisition

When Massey recently announced the Company signed a binding LOI to acquire Pacific Lighting Management, Inc., for its new Dedicated EV Charging Station Solutions Division, SIRC said it is targeting the end of February for the close of the purchase for the company. Learn more about Pacific Lighting at http://www.pacltg.com/

SIRC Closes On Acquisition Of Solar Installer Enerev LLC

SIRC recently closed on its purchase of another established clean energy renewable solar installer, Enerev LLC. To learn more, go to https://www.enerevsolar.com/getting-started. Learn more about SIRC at https://www.solarintegratedroofing.com/corporate-governance/leadership/

Source: Stock Market Press

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