Dallas, Texas Apr 22, 2021 (Issuewire.com) - Cherubim Interests, Inc. (OTC: CHIT) ("the Company"), a diversified holding company, announces that it has signed a Rep Agreement with Stingray Energy through its subsidiary CI Solar. CI Solar will be a project supplier to Stingray Energy.
Stingray Energy is a vertically integrated renewable energy firm utilizing an investment and data analytics approach assisting agriculture and commercial businesses in the transition to solar and backup power generation. Along with installation servicing Stingray dives deep into the client's energy production, financials, and architectural infrastructure to design systems that exceed consumer expectations. Further services include cost modeling, tax credit financing, and utility tariff negotiations.
Solar is on track to make up the largest share of new capacity additions in Texas between 2020 and 2022. Almost 50% of the additions during this time period will be solar, surpassing wind (35%) and natural gas (13%) additions, according to the Energy Department's Energy Information Administration (EIA).
The EIA said that the installation of 2.5 GW of solar capacity in 2020 marked the beginning of the Texas solar boom. The state is expected to add another 4.6 GW of solar capacity this year and 5.4 GW in 2022, which will bring the total installed solar capacity in Texas to 14.9 GW.
Utility-scale solar projects that start construction in 2021 or 2022 are eligible for a 26% tax credit. The tax credit drops to 22% for projects that start in 2023 and 10% for projects that start in 2024 or later.
Other factors driving solar investment in Texas include lower solar technology costs and plentiful sunlight, particularly in West Texas's Permian Basin, where about 30% of the state's planned solar capacity will be built.
Last year, more than 400,000 rooftop systems were installed, and that number is expected to continue to rise through the end of the decade. After witnessing the recent Texas/California grid issues, Americans' demand for at-home energy resilience will almost certainly increase.
However, business models are evolving, and new construction mandates are taking shape across the nation.
"We are excited to enter into a market with generous upside potential, along with the ability to augment our existing construction and cannabis industry profile." Said CHIT CEO Patrick Johnson.
About Stingray Energy
Stingray Energy has partnered with the top leaders and innovators in the Solar, Backup Power, and Installation industry in an effort to provide unparalleled service and affordability. Further backed by over 20 years of residential and commercial solar installation experience clients can rest assured that their decision to go solar will be met with the utmost integrity and professionalism.
For more information, visit: https://www.stingraynrg.com/
About C.I. Solar
CI Solar is a solar energy company focused on the residential and commercial construction and cannabis sectors.
For more information, visit: http://www.cisolar.net/
About Cherubim Interests Inc.
Cherubim Interests Inc. is a diversified holding company that focuses on acquiring assets in Alternative Energy, Traditional Energy, Real Estate, and Construction Sectors. The company was founded in 2006.
For more information, visit: http://www.cherubiminterests.net/
Safe Harbor Statement
This release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E and/or 27E of the Securities Exchange Act of 1934 that are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including statements as to the future performance of the company and the risks and uncertainties detailed from time to time in reports filed by the company with the Securities and Exchange Commission. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Although the company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Factors that could cause results to differ include, but are not limited to, the company's ability to raise necessary financing, retention of key
personnel, timely delivery of inventory from the company's suppliers, timely product development, product acceptance, and the impact of competitive services and products, in addition to general economic risks and uncertainties.
For more information please contact:
Cherubim Interests, Inc.
Patrick J. Johnson
Chief Executive Officer
529 W. Commerce Street Suite 212
Dallas, TX 75208
Sources:
https://pv-magazine-usa.com/2021/04/21/texas-is-poised-for-major-growth-in-solar-energy-eia-says/
https://pv-magazine-usa.com/2021/03/29/the-solar-install-game-is-changing-will-you-be-ready/
Media Contact
Cherubim Interests Inc.
8889986958 EXT 2
529 W. Commerce Street Suite 212 Dallas Texas 75208
Source :Cherubim Interests Inc.
This article was originally published by IssueWire. Read the original article here.
