POWAY, CA, Oct. 24, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Solar Integrated Roofing Corporation (OTCPINK: SIRC) CEO, Dave Massey, said electricity consumption by the growing cannabis industry represents an opportunity that is hard to overlook. Grow facilities often operate 24/7 using high intensity lighting, special ventilation and air conditioning systems. It was estimated that in 2016 a 5,000 square foot grow facility utilized 41,808 kilowatt-hours per month compared to an average household use of about 630 kilowatt-hours per month. The electrical cost was estimated to be approximately $2,500 per kilogram of cannabis leaf.
Recreational marijuana’s recent legalization in California gives SIRC an excellent opportunity to explore a new market for our custom designed solar roofing. If the California market proves to be successful SIRC would consider expansion into other states as the legal environment changes.
The CBD extraction industry offers another avenue for expansion. Extraction facilities are also high kilowatt-hour users. Mid-range CBD extraction equipment uses almost 10,000 kilowatt-hours per month, with HVAC and other electrical uses SIRC estimates total use in the range of 15,000 kilowatt-hours per month. A well designed solar roofing installation can lower production costs for the CBD extraction industry.
SIRC as a leading provider of customized roofing and solar solutions through its contract designers and installers is well-positioned to service the requirements for the cannabis industry.
About Solar Integrated Roofing Corporation
Solar Integrated Roofing Corporation (SIRC) is an integrated solar and roofing installation company specializing in commercial and residential properties with a focus on acquisitions of like companies to build a footprint nationally. For more information, please visit: www.solarintegratedroofingcorp.com
Forward-Looking Statements:
Any statements made in this press release which are not historical facts contain certain forward-looking statements; as such term is defined in the Private Security Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update information contained in any forward-looking statement. This press release shall not be deemed a general solicitation.