Tucson, Arizona--(Newsfile Corp. - April 8, 2021) - ABCO Energy, Inc. (OTC Pink: ABCE), the Arizona provider of integrated energy solutions, is pleased to announce the addition of the solar asset management business to its portfolio of services and construction business. ABCO manages and repairs systems for its own customers over the past twelve years and has been seeing a tremendous increase in request from customers who have lost their solar installers from the economic ravages of the COVID 19 Pandemic.
ABCO has received calls from commercial project owners in several Western states that have requested ABCO's assistance to revive or maintain their solar assets. Many owners of multimillion dollar projects are scrambling for managers because of the large numbers of bankruptcies that have plagued the solar construction industry. Over many years ABCO has been doing the very business that survival has now allowed them to capitalize on with this new market for ABCO.
Solar asset management companies are growing rapidly all over the industry because many solar assets are reaching midlife and starting to need repairs. Inverters often start failing at ten years and many weather related hazards befall the assets. Wind, hail, lightning and fire have often created a need for intense management and ABCO has been taking on these projects. System removal and replacement for roof repairs and other needs has grown over 400% in the past year for ABCO and large system management and repairs has grown even more.
One of ABCO Energy's assets management projects in Tucson Arizona
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The solar industry will see $16 billion of unplanned repairs over the next five years. Annual solar plant operations and maintenance (O&M) costs will double from nearly $4.5 billion in 2019 to over $9 billion in 2024 according to new research from Wood Mackenzie, the 100 year old international energy consulting group. "The O & M Companies that manage these assets will reap the benefits of these repair billings and the recurring annual maintenance revenue," says Mr. Shorey, President of ABCO Energy. ABCO is already growing in this industry segment and the future is bright.
About ABCO Energy
ABCO Energy, Inc. is a commercial and residential installer of Photovoltaic (PV) solar systems, LED lighting solutions and HVAC products and services. ABCO Energy, Inc. is a Nevada corporation, which maintains offices located in Tucson and Phoenix, Arizona. ABCO is a fully reporting public company trading under the symbol ABCE. Since its inception in 2008, ABCO Energy has taken great pride in delivering quality solar installations and has a reputation for outstanding customer service. These qualities have allowed us to grow the business primarily through referrals, many of those based on actual customer reviews.
Safe Harbor Statement
Note: Certain statements in this news release may contain "forward-looking" information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-5 under the Securities Act of 1934 and are subject to the safe harbor created by those rules. All statements, other than the statements of fact, included in this press release may include forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will be accurate and actual results and future events could differ materially from those anticipated in such statements. ABCO undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances or to reflect unanticipated events or developments.
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