Correlate Energy (OTCQB: CIPI) has completed one of the largest rooftop solar-power facilities in Illinois. The facility was constructed at the manufacturing plant of Continental Envelope, one of the oldest envelope manufacturers in the country. Continental Envelope is focused on going green and partnered with Correlate Energy to construct the facility, which is now fully operational, along with all engineering, permitting and interconnection work completed. According to the announcement, the new solar-powered facility will supply an estimated 20%–25% of the plant’s overall energy requirements and offset approximately 18,849 tons of carbon dioxide over the next two decades. Correlate also collaborated with EnerSys, a global leader in stored-energy solutions, on a solar-energy installation project totaling 3.8 megawatts. The project, which is located at the Pennsylvania headquarters of EnerSys, is one of the largest behind-the-meter solar installations in the United States.
“Continental Envelope and EnerSys are just two examples of the shift on the part of manufacturers and other businesses away from emission-causing energy sources and toward greener options,” stated the press release. “Solar is a popular choice, providing 30% of the new electricity produced in the U.S. in 2019, according to the U.S. Department of Energy (‘DOE’). That was up from just 4% in 2010. The cost is also coming down, making it an affordable choice for manufacturers and businesses. At last check, installing solar panels cost less than $3 per watt, 65% cheaper than the $8.50 per watt cost a decade ago, the DOE said. As a result of all that, the solar market is projected to reach $373.84 billion by 2029, growing at a CAGR of 6.9% from now through then. . . . Correlate Energy is seeing some of that demand firsthand. In addition to Continental Envelope and EnerSys, it counts American Tire Distributors Holdings Inc. and Kyocera Corp. as customers and has a total pipeline of $512 million. Of that, about $152 million is in immediate and active projects, providing everything from solar panels to microgrids.”
To view the full press release, visit https://ibn.fm/GZlWX
About Correlate Energy Corp.
Correlate Energy, with its focus on commercial, industrial and residential segments, stands out for its holistic approach to energy solutions. The company provides tailored strategies that encompass renewable energy, energy efficiency and utility contract management. The company, with its network of expert partners, executes these strategies, optimizing facility performance and yielding substantial cost savings and profitability. The Harbinger Research report particularly highlights Correlate Energy’s commitment to combining organic growth with strategic acquisitions, enhancing its market position. For more information about the company, please visit www.Correlate.Energy.
NOTE TO INVESTORS: The latest news and updates relating to CIPI are available in the company’s newsroom at https://ibn.fm/CIPI
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