North Brunswick NJ, September 10, 2020– TGI SOLAR POWER GROUP INC. (“TGI”), a diversified technology company, in its continued mission to provide efficient, eco-friendly energy solutions to the growing electric energy management systems marketplace, is excited to announce the expansion into cutting-edge energy storage and energy management systems. With this comes the creation of a new division for community solar,a new product line and an addition to their impressive management and technical team.
The Community Solar Renewables (CSR) division of TGI Solar Power group is a full-service community solar developer that designs, builds, owns, and operates community solar developments. The CSR process includes first locating a host site to lease over the term of the agreement, generally 30 years. Then they secure the necessary financing, permits, and insurance to construct the community solar project.
Typically, the CSR would work with a Subscriber Management Organization (SMO) to acquire subscribers and manage subscriptions. Subscribers lease panel increments of solar power (kW) or electricity (kWh). The utility provides billing credits to the CSR’s subscribers for their share of the electricity generated from the community solar array. They then continue to operate and maintain the system on a perpetual basis. The CSR Division of TGI Solar Power Group’s mission is to develop community-based clean energy projects alongside communities who spend a disproportionate amount of income on their electricity bill.
The Benefits of Solar Projects/Shared Renewables Nationwide
There are 40 states with at least one community solar project on-line, with 2,056 cumulative megawatts installed through 2019. At least 19 states and D.C. have recognized the benefits of shared renewables by encouraging their growth through policy and programs. The next five years will see the U.S. community solar market add as much as 3.4 gigawatts (GW). 3.4 GW will be able to power roughly 650,000 homes. Community solar facilities are usually less than five megawatts (MW) of electrical capacity and vary in the number of acres affected. Unlike residential housing and commercial development on a sold-off farm parcel, community solar installations are generally on leased land, and well-designed systems can be returned to their original state.
TGI Solar Power continues to make significant progress in the industry and with its manufacturing partners in gearing up for the production of storage for on-grid and off-grid solar battery backup systems for home battery storage, solar battery backup and solar energy storage. Some battery storage systems are designed to use your existing grid-tied solar system as an inverter/charger battery backup system during emergency power outages with auto generator assist available. TGI’s primary goal is to develop its own brand of underlying products and have its own assembly plant to take advantage of the high demand for storage tech and batteries.
TGI recently announced signing an agreement with Lucent Energy Management. The Executives of both TGI and Lucent are creating defined commercial and residential growth plans to take advantage of the strong renewable energy industry in 2020 and 2021, as well as working on budgets of expansion and project financing. Management will also be pursuing additional acquisitions or business combination opportunities. Renewable energy markets are evolving rapidly and TGI intends to take advantage of opportunities to increase sharholders values. TGI also intends to develop its own sales force for marketing solar and storage tech products and services.
About TGI Solar: TGI SOLAR POWER GROUP INC. https://tgipower.com/ is a diversified holding company. TGI’s strategy is to acquire innovative and patented technologies, components, processes, designs, and methods with commercial value that will give competitive market advantage and generate shareholder value.
For more information, please see www.otcMarkets.com under ticker symbol “TSPG”, and visit our Facebook page https://www.facebook.com/TGIPower/
About Lucent Energy Management: Lucent Energy Management offers engineering, procurement, and construction (EPC) of renewable energy systems. Lucent’s services include free site evaluations, renewable energy analysis, solar PV system design, LED lighting design, power factor correction services, project management, installation, operations, maintenance, and monitoring support.
Safe Harbor Statements under the Private Securities Litigation Reform Act of 1965: Those statements contained herein which are not historical are forward-looking statements, and as such, are subject to risks and uncertainties that could cause actual operating results to materially differ from those contained in the forward-looking statements. Such statements include, but are not limited to, certain delays that are beyond the company’s control, with respect to market acceptance of new technologies, or product delays in the testing and evaluation of products, and other risks, as detailed in the company’s periodic filings with the Securities and Exchange Commission.
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Release ID: 88976134