Sunday Dec 04, 2022

SPI Energy to Showcase Solar Panels, Residential Energy Storage Systems, EV Charger Solutions and its Solar EV Pickup Truck at Intersolar Show – Yahoo Finance

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SANTA CLARA, CA / ACCESSWIRE / January 10, 2022 / SPI Energy Co., Ltd. (“SPI Energy” or the “Company”) (NASDAQ:SPI), a global renewable energy company and provider of solar storage and electric vehicle (EV) solutions for business, residential, government, logistics and utility customers, today announced its wholly owned subsidiary SPI Solar Inc plans to showcase Solar & Renewable energy products, including solar panels, residential energy storage systems, and EV chargers, as well as EdisonFuture’s light-duty solar electric vehicles, at the Intersolar Show at Long Beach Convention Center in Long Beach, California, January 13-15, 2022. SPI Solar will showcase at Booth 2159.

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“With the recent acquired 140,000 square foot factory in Sacramento, California, we can further support our growth and the expanding green economy with a California-based solar module manufacturing facility,” commented Denton Xiaofeng Peng, Chairman & Chief Executive Officer of SPI Energy. “The new Sacramento facility enables us to deliver ‘Made-in-USA’ clean energy products, from solar panels and energy storage systems to EV chargers.”

SPI Solar plans to begin solar panel manufacturing in the first quarter of 2022 using the existing production lines at the former Sunergy PV solar plant. Concurrently, SPI Solar will upgrade the facility with new technology and state-of-the-art equipment, ramping to full solar module production capacity of 1.1 gigawatt (GW) in the second half of 2022. In addition, SPI Solar plans to add battery pack and EV charger assembly lines at the facility in the near future.

“Given the current logistics issues around the world, these production facilities will ensure our US-based customers receive stable and consistent supplies,” continued Peng. “Our showcasing of solar, energy storage, EV charging, and solar EV products at Intersolar highlights the main strategy of SPI and our subsidiaries of embracing the broader clean energy revolution happening across today’s marketplace.”

The US installed 3.8 GW of solar PV capacity in Q3 2020 to reach 88.9 GW of total installed capacity, enough to power 16.4 million American homes. Wood Mackenzie forecasts 43% annual growth in 2020, with more than 19 GW of installations expected. In total, the U.S. solar market will install more than 107 GW of solar over the next five years.

The global EV battery market is projected to grow at a CAGR of 25.3% from $27.3 billion in 2021 to $67.2 billion by 2025, according to MarketsandMarkets, a B2B researcher.

Approximately 2.9 million pickup trucks were sold in the US in 2020, representing nearly 20% of the entire US vehicle market. According to data from Cox Automotive, nearly 2-in-5 consumers in the market for a pickup truck over the next two years are considering an electric pickup truck.

The global last-mile delivery market was valued at $18.7 billion in 2020 and is expected to grow to $62.7 billion by 2027, according to AllTheResearch. The World Economic Forum recently reported increasing last-mile delivery demands will drive a 36% increase in the number of delivery vehicles in the world’s top 100 cities by 2030. With fleet operators pursuing environmentally friendly logistic practices, such as Amazon’s ordering of 100,000 electric delivery vans and FedEx’s plans to completely electrify its entire pickup and delivery fleet by 2040, demand for last-mile EV solutions is expected to increase significantly.

About SPI Energy

SPI Energy Co., Ltd. (NASDAQ: SPI) is a global renewable energy company and provider of solar storage and electric vehicle (EV) solutions that was founded in 2006 in Roseville, California and is headquartered in Santa Clara, California.</…….

Source: https://finance.yahoo.com/news/spi-energy-showcase-solar-panels-084500100.html

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