- Fossil fuels still account for about 80% of primary energy and 60% of electricity generation globally
- The recent Covid-19 pandemic, and Russia’s invasion of Ukraine, have shown the impact of overreliance on energy supplies, serving as a wake-up call for investors and governments to start making a transition from fossil fuels to more sustainable alternatives
- Correlate is at the forefront of pushing for this transition and is helping enterprises lower their dependence on fossil fuels while boosting their ESG goals
- It recognizes that there are approximately 6.8 million facilities in the U.S. commercial and industrial market that could benefit from its products and services, and is working towards helping them increase their NOI through clean energy solutions
- Correlate is capitalizing on innovation and streamlining its operations to address hurdles in the energy sector to aid an energy transition from fossil fuels to renewable solar energy. This shows how clear its vision is, its knowledge of the current market dynamics, the challenges therein, and how to solve them
Correlate Infrastructure Partners (OTCQB: CIPI), a proprietary clean energy assessment and fulfillment solutions provider, recognizes the current issue with fossil fuel dependence and is helping enterprises shift their focus to more sustainable alternatives while also boosting their environmental, social, and governance (“ESG”) goals.
In a recent report released by Wood Mackenzie, a Verisk (NASDAQ: VRSK) business, it was noted that fossil fuels, today, still account for about 80% of primary energy globally. It also noted that despite the significant rise in solar and wind power adoption, fossil fuels still dominate power supplies in most markets, accounting for about 60% of electricity generation worldwide in 2021 (https://nnw.fm/F7JQb).
The report emphasized the significance of an energy transition to reduce the risk of future shocks. As evidenced by the Covid-19 pandemic, followed by Russia’s invasion of Ukraine, the overreliance on energy supplies, specifically fossil fuels, has dealt a blow to energy security and affordability. This, it argues, serves as a wake-up call for investors and governments to start making a transition and to manage that transition for the benefit of consumers.
Recently, Correlate’s focus has been on commercialization as opposed to previous quarters, where it was heavily invested in product development. This has seen it grow its commercial customers, even as it recognizes that there are approximately 6.8 million facilities in the United States commercial and industrial market that could benefit from its energy solution (https://nnw.fm/TWdYw).
By helping its commercial customers, Correlate is helping them to increase their net operating income (“NOI”) through clean energy solutions, coupled with the benefits associated with its innovative full-service platform, from solar energy generation to its management. In addition, it hopes to draw the learnings from helping its commercial customers and extend its service to individual consumers who might want to shift to more sustainable and cheaper renewable energy solutions.
A report by the Solar Energy Industries Association (“SEIA”) noted that the third quarter of the 2021 calendar year saw a 33% increase in solar capacity compared to the same period the previous year. In addition, solar accounted for 54% of all new electricity-generating capacity added in the country in the first three quarters of 2021 (https://nnw.fm/jMHoP).
According to Wood Mackenzie, this rise can be attributed to the significant reduction in costs associated with solar power generation, making it more appealing to enterprises and individuals. It is even projected that the costs will further decline in the long term, which offers an even greater opportunity for Correlate to offer its services to more potential clients and increase its margins as time progresses.
So far, Correlate has project opportunities valued at $74 million from recent awards at different stages, including projects that have been awarded agreements in development and contracts that have been executed under installation. With its platform that uses data analysis, development, and financing resources to advise clients on environmental impact reduction and potential savings and profit increases, Correlate is looking to grow its project opportunities significantly over time.
Correlate is aiding an energy transition from fossil fuels to renewable solar energy through innovation and streamlining its operations to address hurdles that exist in this sector. More specifically, the company is significantly lowering the barrier of entry into solar energy, which is integral to initiating and sustaining the energy transition from fossil fuels. This is a testament to Correlate’s understanding of its vision and its knowledge of the current market dynamics, the challenges therein, and how to solve them.
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://nnw.fm/CIPI
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