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Solar Installations Grow at Rapid Pace

Solar Installations Grow at Rapid Pace

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NEW YORK — According to data provided by Solar Energy Industries Association (SEIA), The U.S. installed 2,387 megawatts (MW) of solar PV in Q2 2017 to reach 47.1 gigawatts (GW) of total installed capacity, enough to power 9.1 million American homes. This represents an 8% increase over the same quarter last year, and the industry is poised to install more than 12 GW of solar capacity before the end of 2017. SEIA also indicates that all three U.S. solar market segments – commercial, residential and utility-scale – experienced quarter-over-quarter growth in Q2. The U.S. installed 2,044 MW of capacity in Q1. The non-residential and utility-scale market segments also posted year-over-year growth. Solar Integrated Roofing Corporation (OTC: SIRC), Sauer Energy Inc. (OTC: SENY), SPI Energy Co., Ltd. (NASDAQ: SPI), Sunworks, Inc. (NASDAQ: SUNW), Enphase Energy, Inc. (NASDAQ: ENPH)

“This report shows once again that solar is on the rise and will continue to add to its share of electricity generation,” said Abigail Ross Hopper, SEIA’s president and CEO. “Last year, solar companies added jobs 17 times faster than the rest of the economy and increased our GDP by billions of dollars. We are going to continue to fight for policies that allow the industry to continue this phenomenal growth.”

Solar Integrated Roofing Corporation (OTC: SIRC) on October 31st CEO Dave Massey commented on recent data for the California and U.S. Solar Market.

“California is the largest market for residential photovoltaic solar installations,” said Massey. “Total installed U.S. solar PV capacity is expected to nearly triple over the next five years. By 2022, over 17 GW of solar PV capacity will be installed annually. With our recent acquisitions and our deal with the large national home improvement chain, SIRC is poised to take advantage of this burgeoning market.”

Last year, solar ranked as the No. 1 source of new capacity additions. Building off that momentum, solar accounted for 30% of all new electric generating capacity installed in the U.S. in Q1 2017, ranking as the second-largest driver of capacity additions across all fuel types.

“In California, PG&E and SDGE utility companies have petitioned for rate increases,” added Massey. “Solar has never made more sense than right now.”

Enphase Energy, Inc. (NASDAQ: ENPH), a global energy technology company, delivers smart, easy-to-use solutions that connect solar generation, storage and management on one intelligent platform. On September 19th, the company announced that it has partnered with Waaree Energies Limited, India’s largest Tier 1 solar panel manufacturer. “Enphase Energy is the first global microinverter technology company to partner with Waaree to integrate our technology onto their solar modules,” said Nathan Dunn, managing director of Enphase Asia-Pacific. “This is a truly exciting opportunity as it will allow us to extend our presence in India with a market leader in solar modules. Enphase and Waaree share the same philosophy of delivering solar solutions built on innovative technology and quality. Together, we will work toward delivering more affordable solar power to commercial and residential customers in India.”

Sauer Energy Inc. (OTCQB: SENY) Earlier this year, the company announced that they have entered into a strategic alliance with North Wind Power, Inc., (NW), a Canadian Corporation, located in Newfoundland and Labrador, Canada. In addition, the company’s Sauer Energy also reported on its first partnership with one of the largest alternative energy contractors in the south-west, Joe Moore, of Wind Sun Energy Systems (WSES), in Carlsbad, California, in business since 1980. Wind Sun Energy Systems is a renewable energy company that specializes in solar and wind electric production for homes and businesses.

Sunworks, Inc. (NASDAQ: SUNW) is a premier provider of high performance solar power systems. Recently, the company announced a new, 521 kW solar and battery construction for Angelus Temple in Los Angeles. Angelus Temple is the founding church for the International Church of the Foursquare Gospel (ICFG), which now has operations in every state in the United States and many countries around the world. ICFG, with support from the Foursquare Foundation, and in partnership with Renu Energy Solutions as the solar developer, selected Sunworks to develop a hybrid solar and battery system to enable the church to achieve energy independence and environmental sustainability. The Foundation made special mention of the invaluable partnership with Robert Espinosa and Matthew Cassey of Sunworks’ Southern California office.

SPI Energy Co., Ltd. (NASDAQ: SPI) On September 25, 2017, the company announced that SP Orange Power (Cyprus) Limited, a subsidiary of the Company, has entered into a framework share purchase agreement dated as of September 20, 2017, pursuant to which the above subsidiary will acquire 100% equity interests of three Greek companies, namely THERMI SUN S.A, HELIOHRISI S.A., and HELIOSTIXIO S.A., from THERMI TANEO Venture Capital Fund, for a total consideration of EUR €16.65 million, subject to certain adjustments. These three companies own a total of four PV plants with 7.4MWp PV installations in northern Greece.

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