- Correlate recently completed solar projects for American Tire Distributors’ headquarters and Continental Envelope’s manufacturing plant
- The projects are a major milestone in Correlate’s initiative to showcase a powerful link between sustainability and profitability
- The global renewable energy market was valued at $881.7 billion in 2020 and is expected to reach $1,977.6 billion by 2030, growing at a CAGR of 8.4%
- To drive shareholder value, Correlate is leveraging a three-pronged strategy enhanced by current investment trends – sell, retain, and acquire
Correlate Energy (OTCQB: CIPI), a growth-oriented distributed energy company, recently announced the successful completion of solar projects for American Tire Distributors’ headquarters and Continental Envelope’s manufacturing plant, and the commencement of a third project in Reading, Pennsylvania. These projects help further the company’s mission to capitalize on America’s unstoppable trend toward decentralized energy generation – emphasizing both the affordability and potential profit the company’s environmental, social, and governance (“ESG”) related energy solutions offer companies and organizations.
The first project was completed at American Tire Distributors (“ATD”) headquarters in Huntersville, North Carolina. The initiative aims to reduce ATD’s carbon footprint and generate substantial cost savings by reducing reliance on traditional energy sources. Over the next two decades, it’s expected to reduce CO2 emissions by 5,463 tons.
“We are thrilled to unveil this remarkable project, reflecting our dedication to providing clients with best-in-class sustainability solutions and reducing their carbon footprint,” said Todd Michaels, Correlate’s CEO (https://ibn.fm/oFtnx). “Completing this project at another nationally recognized headquarters building is a major milestone as this initiative showcases the powerful link between sustainability and profitability.”
The second solar project was constructed at Continental Envelope’s manufacturing plant in Geneva, Illinois, one of Illinois’ largest rooftop solar facilities. Continental Envelope serves prominent clients in various industries and has integrated the clean energy system into its 84-year-old printing facility, producing 2 billion envelopes annually. This solar project will provide approximately 20%-25% of the facility’s energy needs, ensuring energy stability and promoting sustainability for years.
The third project in Reading, Pennsylvania, which has grown from 3.8 MW to 5.2 MW, is the company’s largest project to date. When completed, it will be among Pennsylvania’s largest corporate solar installations (https://ibn.fm/mYoho).
These projects exemplify Correlate’s commitment to delivering customized energy solutions that benefit businesses and the environment. Correlate has identified several key economic drivers powering the decentralized energy trend, including:
- Real Cost Savings – Customers pay zero money down and get an instant electrical discount to current rates.
- Massive Project Investment Funding – The International Energy Agency estimates that over one billion dollars per day will be invested in solar energy in 2023.
- Consistent Long-Term Incentives – The Inflation Reduction Act is a game-changer, supercharging renewables with $1.2 trillion in tax credits for ten years of market support.
- Robust Customer Demand – Wood Mackenzie expects the U.S. solar industry to nearly triple in size over the next five years.
According to Allied Market Research, the global renewable energy market was valued at $881.7 billion in 2020. By 2030, it is expected to reach $1,977.6 billion, growing at a CAGR of 8.4%. Several factors driving renewable energy worldwide include increased output efficiency, less pollution, and low maintenance costs (https://ibn.fm/ALF23).
Clean energy earnings are being sought after by investors. To drive shareholder value, Correlate is leveraging a three-pronged strategy enhanced by current investment trends – sell, retain, and acquire. The Correlate team consists of multi-decade experts who have worked with renowned global brands that are positioning the company to make the most of opportunities while consolidating a fragmented industry. The team has developed, financed, and deployed over $2 billion in clean energy projects to date.
For more information, visit the company’s website at www.Correlate.Energy.
NOTE TO INVESTORS: The latest news and updates relating to CIPI are available in the company’s newsroom at https://ibn.fm/CIPI
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