SANTA CLARA, CA / ACCESSWIRE / January 10, 2022 / SPI Energy Co., Ltd. (“SPI Energy” or the “Company”) (NASDAQ: SPI), a global renewable energy company and supplier of solar and electric vehicle (EV) storage solutions to businesses, individuals, governments, logistics and utility customers, today announced that its wholly owned subsidiary SPI Solar Inc plans to showcase solar and renewable energy products, including solar panels, residential energy storage systems and battery chargers. electric vehicles, as well as EdisonFuture’s light solar electric vehicles, at the Intersolar show at the Long Beach Convention Center in Long Beach, Calif., January 13-15, 2022. SPI Solar will be exhibiting at booth 2159.
“With the recent acquisition of the 140,000 square foot plant in Sacramento, California, we can further support our growth and expansion of the green economy with a California-based solar module manufacturing plant,” commented Denton Xiaofeng Peng, Chairman and CEO of SPI Energy. “The new Sacramento facility allows us to deliver ‘made in the USA’ clean energy products, solar panels and energy storage systems to electric vehicle chargers. “
SPI Solar plans to begin manufacturing solar panels in the first quarter of 2022 using existing production lines from the former Sunergy solar PV plant. At the same time, SPI Solar will modernize the facility with new technology and advanced equipment, reaching a total solar module production capacity of 1.1 gigawatt (GW) in the second half of 2022. In addition, SPI Solar plans to add a battery pack and charger assembly lines for electric vehicles on site in the near future.
“Given the current logistical challenges around the world, these production facilities will ensure our US-based customers have a stable and consistent supply,” Peng continued. “Our presentation of solar products, energy storage, electric vehicle charging and solar electric products at Intersolar highlights the core strategy of SPI and our subsidiaries of embracing the larger clean energy revolution that is taking place in today’s market. “
The United States installed 3.8 GW of solar PV capacity in the third quarter of 2020 to reach 88.9 GW of total installed capacity, enough to power 16.4 million American homes. Wood Mackenzie forecasts annual growth of 43% in 2020, with more than 19 GW of installations expected. In total, the US solar market will install more than 107 GW of solar power over the next five years.
The global electric vehicle battery market is expected 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 United States in 2020, representing almost 20% of the entire United States vehicle market. According to data from Cox Automotive, nearly 2 in 5 consumers in the pickup truck market 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 reach $ 62.7 billion by 2027, according to AllTheResearch. The World Economic Forum recently announced that the increase in last-mile delivery requests will lead to a 36% increase in the number of delivery vehicles in the world’s top 100 cities by 2030. Fleet operators pursuing practices eco-friendly logistics, such as Amazon’s order for 100,000 electric delivery vans and FedEx’s plans to fully electrify its entire collection and delivery fleet by 2040, the demand for electric vehicle solutions for the last mile should increase significantly.
About SPI Energy
SPI Energy Co., Ltd. (NASDAQ: SPI) is a global renewable energy company and provider of solar and electric vehicle (EV) storage solutions that was founded in 2006 in Roseville, Calif. And headquartered in Santa Clara, Calif. .
The company has three main divisions: SolarJuice residential solar, the commercial and utility solar division made up of SPI Solar and Orange Power, and the EdisonFuture / Phoenix Motorcars EV division. SolarJuice is the leader in renewable energy system solutions for residential and small commercial markets and has extensive operations in the Asia-Pacific and North America markets. The commercial and utility solar division provides a full range of EPC services to third-party project developers and develops, owns and operates solar projects that sell electricity to the grid in multiple regions including the US, UK and in Europe. Phoenix Motorcars is a leader in mid-duty electric utility vehicles and develops solutions for electric vehicle chargers, electric vans, electric forklifts and other electric vehicle products.
SPI maintains global operations in North America, Australia, Asia and Europe and also targets strategic investment opportunities in fast growing green industries such as battery storage, charging stations and other vehicles. electrics that leverage the company’s expertise and significant solar cash flows.
For more information on SPI Energy and its subsidiaries, the Company recommends that shareholders, investors and other interested parties read the Company’s public documents and press releases available in the Investor Relations section of www.SPIgroups.com or www.sec.gov.
This press release contains forward-looking statements, as that term is defined in the Private Litigation Reform Act of 1995, that involve significant risks and uncertainties. Forward-looking statements can be identified by the use of words such as “could”, “could”, “could”, “intention”, “should”, “could”, “could”, “could”, “could”. “,” To continue “,” to expect “,” to believe “,” to anticipate “,” to estimate “,” to predict “,” prospects “,” of d ‘d’ d ‘d’ d ‘d’ d ‘expressions variants or negative aspects of these terms or other comparable terminology. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect the Company’s current expectations and speak only as of the date of this press release. Actual results may differ materially from the Company’s current expectations depending on a number of factors. These factors include, but are not limited to, the coronavirus and the measures taken in this regard, adverse changes in general economic and market conditions, competitive factors including, but not limited to, pressures on pricing and new product launches, uncertainty about customer acceptance of new product offerings and market changes. , the risks associated with managing the growth of the business and the other risks and uncertainties described in the “Risk Factors” section of the Company’s Form 20-F filed with the Securities and Exchange Commission. Except as required by law, the Company assumes no responsibility for revising or updating forward-looking statements.
Contact SPI Energy Co., Ltd. :
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Telephone: (407) 491-4498
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