Sunlight is the most abundant source of energy reaching the earth, and the solar panel industry continues to grow as companies hunt for environmentally friendly energy solutions. The only setback is the initial cost of setting and building the solar panels, but in recent years solar power is becoming more widely used after several different companies have found ways to make it more cost efficient.Companies have the capacity to build photovoltaic (PV) cells for roofing on several different types of buildings. This opportunity is not only available for commercial buildings suitable for solar power, but also to individual home owners. More and more individuals are beginning to realize the benefits of using solar energy by having panels installed to their homes.
Open Energy (OTCBB: OEGY) is a renewable energy company focused on the development and commercialization of a portfolio of technologies capable of delivering cost-competitive electricity, fresh water and related commodities on a global basis. SolarSave, part of Open Energy, manufactures roofing membranes, roofing tiles, custom architectural PV glass, and balance of the systems equipment.
The products developed and manufactured by SolarSave have the ability to bring solar power to consumers’ houses. The company posted a press release this morning, noting the solar power boom in California. This year alone, Sacramento has more than 3,000 homes under construction, or is planned, to be built with preinstalled solar systems.
The state of California is taking the initiative of embracing solar power spending nearly more than$3 billion to push solar systems onto existing housing. Many companies are joining the California government in pushing the financial benefits of solar powers on to homes.
Solar Pro International announced a $4.2 million purchase of solar tiles for 378 new homes, which Open Energy will provide.
Open Energy is currently trading at 48 cents and has increased from 41 cents earlier this week. The company is one the forefront of solar technology and with consumers recognizing the cost and overall benefits of solar power, Open Energy seems to be in place to reap the benefits.