The Zacks Consensus Estimate for Vistara’s 2023 sales suggests a growth rate of 13.5% from the prior-year reported figure. Two better-ranked stock in the same industry is Vistara VST and National Grid Transco NGG. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. This entails scope for substantial expansion for Duke Energy to foray into the floating solar market and develop more projects like the latest one.ĭuke Energy currently carries a Zacks Rank #3 (Hold). Per the projection from Transparency Market Research, the global floating solar market is expected to grow at a CAGR of 30% over the 2021-2031 period. No land usage, environmental aids like reduced evaporation and algae growth and increased efficiency of solar panels due to the cooling effect from water that eventually results in cost savings are some of the factors that must have attracted Duke Energy to scale up its floating solar projects. The benefits of floating solar photovoltaic projects make them an interesting tool for renewable energy generation. In this context, generating energy through solar projects on water bodies is one of the emerging technology and is gradually gaining momentum across the globe. The requirement to make operations more eco-friendly is leading the way to evolving new methods of generating renewable energy. Nations across the globe are striving to address combat greenhouse gas emission issues through innovative technologies.
The switch to renewable sources of energy to curtail climatic effects is building up steam. What’s Favoring Duke Energy in Floating Solar Projects?
It also opens avenues for the company to expand operations in emerging floating solar technology. With this latest development, Duke Energy Florida takes a step forward in achieving its clean energy goals through innovative technologies.
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