Tesla (NASDAQ: TSLA) Reports First Profitable Year And Sees Solar 59% YOY Q4 Gains Brighten Solar Rooftop Deployment Outlook For 2021; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Plans For Bigger Solar Push This Year

Tesla (NASDAQ: TSLA) reported its first full year profit this week for 2020 but Tesla (NASDAQ: TSLA) reported a 50% goal for an increase in solar rooftop deployments in 2020 but reached only a 17% gain in operating capacity. According to a report in the Buffalo News, Tesla hoped for a 50% rise in solar deployments last year only to see a 17% gain to 205-megawatts of generating capacity. However, a late year YOY jump of 59% in megawatts capacity in Q4, which was 51% higher than in Q3 in 2020, leads to the Company's optimism about solar performance in 2021. Solar Integrated Roofing Corp. (OTC PINK: SIRC) continues its solar acquisition spree and entry into adjacent sectors.

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

Tesla (NASDAQ: TSLA) Reports First Profitable Year And Sees Solar 59% YOY Q4 Gains Brighten Solar Rooftop Deployment Outlook For 2021; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Plans For Bigger Solar Push This Year

Tesla (NASDAQ: TSLA) reported a 50% goal for an increase in solar rooftop deployments in 2020 but reached only a 17% gain in operating capacity. The Buffalo News reported that Tesla was upbeat about the rebound in its solar business as it said it earned a profit of $721 million last year including a $270 million profit for Q4 2020, its sixth straight quarterly profit. Tesla (NASDAQ: TSLA) Reports First Profitable Year And Sees Solar 59% YOY Q4 Gains Brighten Solar Rooftop Deployment Outlook For 2021; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Plans For Bigger Solar Push This Year.

Helping Tesla's gain in solar and bright outlook for 2021 performance, besides the spike in solar capacity during the last three months of 2020, were price cuts -- amounting to solar product costing 30% less than the national average -- and accelerated federal incentives. Larger solar tax credits now are also making the payback faster for solar homeowners in the future.

Musk Expects Tesla To Be Solar Market Share Leader

Elon Musk, CEO of Tesla (NASDAQ: TSLA), said in an earnings call that, "We're focused on reducing the amount of time and the complexity of the install, and we're making great progress in that regard. And I think that we'll have something that's really dialed in this year." He added: "We do actually expect to be the market share leader and build beyond that." The Company sees a 50% jump in sales of its electric cars in 2021 and the future.

Solar Integrated Roofing Corp. (OTC PINK: SIRC) Committed To Solar, Clean Energy

Reinforcing its commitment to solar and clean energy, SIRC was named by Tesla (NASDAQ: TSLA) as a certified installer of its branded Powerwall solar battery storage units. Now, both are also in the EV battery charging station industry — as SIRC has established a dedicated EV battery charging station division. SIRC has also established a dedicated new division for the EV battery charging market; acquisition of solar company Enerev LLC; new alliance with San Diego builders to enter the new home business in that market; agreement with Solectrac, Inc., an all-electric tractor developer and manufacturer located in Northern California. The company is now 24% owned by Ideanomics (NASDAQ: IDEX). Solectrac is an applicant for a $500 million USTDA grant.

SIRC's Newest Solar Company Acquisition: Enerev LLC

Solar Integrated Roofing Corp. (OTC PINK: SIRC) recently continued its quick acquisition pace of buying solar companies when, in a cash and stock transaction, it closed on its purchase of Enerev LLC. Tesla (NASDAQ: TSLA) Reports First Profitable Year And Sees Solar 59% YOY Q4 Gains Brighten Solar Rooftop Deployment Outlook For 2021; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Plans For Bigger Solar Push This Year.

SIRC Sees Favorable Clean Energy, Solar Legislation Tailwinds Ahead

Solar Integrated Roofing Corp. (OTC PINK: SIRC) is optimistic about 2021 performance because the Biden Administration is pro-clean energy investment. In its first week, the new administration canceled Keystone Oil Pipeline permits and rejoined the Paris Climate Accords. It has taken a positive view of state mandates that set specific years for new EV vehicles and appears to want even more. It has set plans for all new government vehicles to be all electric, using clean energy and EV charging stations.

SIRC Sees Sees Opportunity Ahead In Solar With Larger Sales Tickets

David Massey, SIRC CEO, said of the company's entry into new home developments alongside several San Diego builders, "In addition to the roofing and solar revenue from each new housing development, we maintain the upside opportunity to sell the end home buyer additional solar or battery storage solutions, creating an exciting new sales pipeline for our growing team." Tesla (NASDAQ: TSLA) Reports First Profitable Year And Sees Solar 59% YOY Q4 Gains Brighten Solar Rooftop Deployment Outlook For 2021; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Plans For Bigger Solar Push This Year.

SIRC Shares Seen Trading North Of $1.00 And Beyond In 2021By Goldman Small Cap Research

Goldman Small Cap Research in an updated report in January 2021, explained that SIRC's stock still has a lot to gain in valuation metric. "Thus, we believe that these shares (SIRC) could trade north of $1.00 and beyond in 2021, especially as new companies are brought into the SIRC family," it concluded. Goldman Small Cap Research in the new report tripled its price target for Solar Integrated Roofing Corp. (OTC PINK: SIRC) to $0.75 for the next three-six months after it blew past the previous lower price target Goldman set only last month.

Solar Integrated Roofing Corp. (OTC PINK: SIRC) Says It Will Reach $40 Million In FY 2022

Goldman likes the SIRC M&A strategy, entry into adjacent sectors, past record performance and partnership/agreement with EV developer of all-electric tractors, which is an applicant for a $500 million USTDA grant. Saying that SIRC is expanding volume both organically and with acquisition growth, it projects SIRC sales at $19.8 million for FY 2021 and $38.5 million In FY 2022.

SIRC itself forecasts a volume of $40 million for FY 2022 -- slightly north of the $38.5 million projected for it that year by the new Goldman report. Massey, CEO of Solar Integrated Roofing Corp. (OTC PINK: SIRC), projects that its fast-track growth will generate revenues of $20 million for the FY ending February 28, 2021, almost precisely the $19.8 million estimated by the initial report.

Rob Goldman, Senior Analyst, cited SIRC's Q3 FY 2021 volume jump of 130% YOY to $5.2 million in sales. It also noted SIRC's move into new adjacent clean air categories such as EV charging stations, all-electric tractors and new home solar installations in San Diego -- mandated in California -- in addition to its solar activity in Southern California.

Learn more about SIRC at https://www.solarintegratedroofing.com/corporate-governance/leadership/ (OTC PINK: SIRC).

Source: Stock Market Press

Join Stock Market Press' newsletter for the latest in IPO, market commentary and company profiles.

Stock Market Press is a financial news company that delivers up to date stock news, introduces private and public companies to a wide audience of investors, consumers, journalists and the general public via social media and a rapidly expanding network.

Contact:

Stock Market Press
110 Wall St.
New York, NY 10005 info@stockmarketpress.com https://twitter.com/PressStock

Safe Harbor Statement:

Statements in this news release may be "forward-looking statements." Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions or any other statements relating to our future activities or other future events or conditions. These statements are based on current expectations, estimates and projections about our business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and are likely to, differ materially from what is expressed or forecasted in forward-looking statements due to numerous factors. Any forward-looking statements speak only as of the date of this news release and Stock Market Press undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this news release.

See Stock Market Press disclaimer: http://stockmarketpress.com/disclaimer/ SOURCE: Stock Market Press

comtex tracking