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By: AllPennyStocks.com
Even though gasoline prices are not nearly as high as they were in the
recession-eve days of summer 2008, investments in energy conservation continue
to be worthwhile, and at least one company is taking on popular support, as well
as garnering backing for new projects to build its bottom line.
Solar Energy Initiatives, Inc. (OTCBB:SNRY) is embarking on a grass roots
campaign, (“RENEW THE NATION”), to help redeploy a portion of the U.S. workforce
and focus on reducing the world’s dependence on fossil fuels by selling solar
thermal and photovoltaic (PV) technologies. In mid-January, the company
announced it had inked a second Contract to initiate a $4 million turnkey solar
project and supply management services to a public school in the southeastern
U.S., not far from its Jacksonville, Florida headquarters. Installation of this
approximately one-megawatt project is expected to begin immediately with
completion scheduled for early spring this year.
SNRY will develop the project and provide all of the solar equipment and balance
of system to the commercial site. In addition to product sales and services, the
Company will also receive revenue from the management of the sale of the newly
generated solar electricity to the school system’s utility, over a 20-year
contract period. SNRY also plans to partner with a major funding source, as well
as a recognized solar installer, to launch the solar system at no “out of
pocket” expense to the school district.
Founded in 2001, SNRY had the original goal of being a maker and distributor of
solar energy equipment, but shifted gears three years later, organizing a solar
energy dealership program to train support solar contractors with vast knowledge
base in solar design, manufacturing and installations.
In 2008, the assets of Solar Energy, Inc. were acquired by Solar Energy
Initiatives, Inc., a publicly-traded company based in nearby Ponte Vedra Beach.
Since then, SNRY has rapidly expanded its dealership network bringing many newly
trained solar contractors to the growing marketplace.
The company boasts the range and depth of experience to provide technical
sizing, support, equipment-matching and sourcing to supply required equipment
for almost any residential or commercial solar projects. SNRY is a master
distributor for GE Photovoltaics, and offers hundreds of branded renewable
energy products.
The stock price closed at 23 cents the day of the announcement, with volume
going skyward (about 320,000 shares on January 14), there was plenty of buzz
surrounding the stock. The price is in a 52-week range having peaked at 70 cents
last July, after falling to a trough of 16.5 cents last December. Those who
harbor the opinion that the company’s “RENEW THE NATION” campaign will gather
momentum – and the stock price with it – may want to take a closer look at this
Company.
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