- World is getting closer to the tipping point as renewables meet 107% of the increase in global electricity demand in H1 2022, but challenges such as energy storage remain; new legislation seeks to address them by granting federal support to storage projects
- On the heels of the first-ever dedicated tax credits in the Inflation Reduction Act, energy storage projects are expected to grow; further driving demand for more renewable energy projects – companies like Hillcrest and their inverter technology, are expected to benefit
- Company poised for growth; ramps up the executive team with established power sector veteran James Bolen joining as CCO
Electrification, where businesses and homes shift from coal and gas to renewables and battery systems, is on the rise as the push toward greener economy gains momentum. A recent report published by a UK energy think tank, Ember, analyzed data from 75 countries accounting for 90% of global electricity demand, showing that the worldwide increase in electricity demand comes from clean energy productions (https://ibn.fm/n7f0V). As renewables are getting established as an effective response to the world’s intensifying challenges, such as climate crisis, energy uncertainty and economic instability, Companies like Hillcrest Energy Technologies (CSE: HEAT) (OTCQB: HLRTF) that help rethink energy generation, storage, distribution and consumption appear poised for growth.
The report shows that global electricity demand increased by 3% – in line with the historical average for 2010-2021 – with renewables, including wind, solar, and hydro, meeting all the electricity demand growth. It also indicates that the world is getting closer to a tipping point where clean electricity – driven by…
NOTE TO INVESTORS: The latest news and updates relating to HLRTF are available in the company’s newsroom at https://ibn.fm/HLRTF
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