whats the short ratio over here?
SPI Energy Co., Ltd. ("SPI Energy" or the "Company") (NASDAQ: SPI), a global renewable energy company and provider of solar storage and electric vehicle (EV) solutions for business, residential, government, logistics and utility customers, today announced its SPI Solar Inc. ("SPI Solar") subsidiary secured approximately 465 acres across two parcels for the development of a utility-scale solar project in Illinois.
The 54 megawatt ("MW") alternating current, 78.4MW direct current project is expected to produce 124,986MW hours ("MWh") of electricity in its first full year of operation, the equivalent electricity needed to annually offset CO2 emissions of more than 11,000 homes.
"This is another significant project for SPI Solar," said Xiaofeng Denton Peng, Chairman and CEO of SPI Energy. "Our growing operations clearly demonstrate our ability to generate meaningful impact in CO2 emissions reduction with solar technologies. Illinois enacted the Climate and Equitable Jobs Act in 2021 with the goal of achieving 100 percent carbon-free energy by 2045. We are excited to play an important role in helping the state achieve this noteworthy goal and look forward to bringing this utility scale project to fruition over the next few years."
The U.S. installed 5.4 GW of solar PV capacity in Q3 2021 to reach 113.5 GW of total installed capacity, enough to power 21.8 million American homes, from the source of SEIA (Solar Energy Industries Association). It is expected that U.S. solar generating capacity to grow by 21.5 GW in 2022. In total, the U.S. solar market will install more than 107 GW of solar over the next five years.
