- Correlate is energizing solaxr power adoption by offering a complete suite of proprietary uniquely affordable clean energy solutions for the commercial real estate industry
- It is estimated that, by 2050, the average LCOE (Levelized Cost Of Electricity) for solar PV will fall from the current $50/MWh level to around $30/MWh, with individual projects costing well below $20/MWh
- This drop is representative of the trend from 2011 to 2022 that has seen an 89% drop in the cost of new technologies in solar energy, a 59% drop in onshore wind, and a 61% drop in offshore wind energy tech
- Correlate is looking to take advantage of this cost drop to further deploy as many solar power installations in the United States as possible, ultimately accelerating solar power adoption and aiding the energy transition in the country
- Its approach shows its commitment to consistently creating value for its shareholders and consumers
Correlate Infrastructure Partners (OTCQB: CIPI), through its two subsidiaries, Correlate, and Solar Site Design, is looking to help accelerate solar energy adoption in the United States. By offering a complete suite of proprietary clean energy assessment and fulfillment solutions for the commercial real estate industry, the company is lowering the barrier of entry and incentivizing even more real estate owners and companies to hop onto the renewable energy space, with the promise of lowering their carbon emissions and reducing the overall cost associated with energy consumption.
As a driver of highly cost-effective solutions for energy use optimization, Correlate recognizes the opportunity and value that lies in solar energy. As such, it looks to provide real estate owners and companies with the necessary systems, infrastructure, and technical know-how to aid in the transition to renewable energy alternatives, specifically solar energy, in light of the 2050 net zero emissions goals.
It is projected that by 2050, installed solar photovoltaic (“PV”) capacity globally will grow 20-fold, with the technology representing 38% of all electricity production. According to a report published by PV-Tech, this will be significantly influenced by the anticipated drop in the cost of solar energy production as time progresses. It is estimated that come 2050, the average Levelized Cost of Energy (“LCOE”) for solar PV will fall from the current $50/MWh level to around $30/MWh, with individual projects costing well below $20/MWh (https://ibn.fm/RbavN).
This drop indicates the trend over the past ten years that has seen the cost of new solar energy technologies post the highest decline at 89% compared to onshore wind at 59% and offshore wind at 61%. In addition, solar energy storage also stands to benefit greatly, having posted an 83% cost decline from 2011 to 2021.
Correlate looks to take advantage of this cost drop to further deploy as many solar power installations in the United States as possible. In addition to this decline, the company’s financing platform is further reducing the current upfront cost of adopting the infrastructure associated with solar energy, making it easier for interested persons to adopt solar energy ahead of 2050.
Through its approach and understanding of the market, Correlate has already amassed an opportunity pipeline of over $100 million in commercial projects, with more than $20 million in awarded backlog. It is also currently executing a $200 million project pipeline following its application for Nasdaq up-listing.
The company’s current performance represents a market that is ready and willing to adopt renewable energy alternatives, particularly solar energy. It is also indicative of the success of Correlate’s approach and how lowering the barrier of entry is fundamental in accelerating solar power adoption.
With these, Correlate plays an integral role in the energy transition globally and the United States. It showcases the advantage of using renewable energy sources and proves how commercially viable it is to go down this route. Most importantly, it is proving its commitment to consistently creating value for its shareholders and consumers.
For company information, visit the company’s website at www.CorrelateInfra.com, including the following:
- Breaking Down Barriers To Your ESG Goals While Generating Additional Net Operating Income: www.CorrelateInfra.com/our-process
- Platform Generates New Rent And Operating Income, Allowing You To Meet Your ESG Goals: www.CorrelateInfra.com/program
NOTE TO INVESTORS: The latest news and updates relating to CIPI are available in the company’s newsroom at https://ibn.fm/CIPI
InvestorWire is the wire service that gives you more. From regional releases to global announcements presented in multiple languages, we offer the wire-grade dissemination products you’ll need to ensure that your next press release grabs the attention of your target audience and doesn’t let go. While our competitors look to nickel and dime you with hidden fees and restrictive word limits, InvestorWire keeps things transparent.
As part of its service, InvestorWire provides coverage of noteworthy announcements. To further expand visibility of achievements being made throughout a multitude of sectors, InvestorWire’s syndication partners have extended the digital coverage to include individual broadcasts on financial websites and platforms visited by millions of investors daily.
For more information, please visit https://www.investorwire.com
8033 Sunset Blvd Suite 1037-IW
Los Angeles, CA 90046
InvestorWire is part of the InvestorBrandNetwork.