MJP International today announced that it has completed the acquisition of 80% of the issued shares of Human Energy Alliance Laboratories Corp ("HEAL") through its wholly owned subsidiary Energy Alliance Labs Inc. and has appointed Mr. Liao Zu Guo as Chief Executive Officer and Chief Financial Officer.
HEAL offers a wide array of green energy solutions it markets and sells online. Among them are state of the art wind and solar installations for both commercial and residential customers.
"We are very pleased with this acquisition which we will use as a stepping stone into the green energy market which is growing at the most rapid pace ever. In particular, domestic demand for solar panels has been very strong," cited Christopher Hudson, COO of MJP International.
According to the Solar Energy Industries Association (SEIA), in the last decade, solar has experienced a compound annual growth rate of nearly 60% and over 200,000 Americans work in the sector. More than 400,000 American workers are expected to serve the sector by 2020.
Furthermore, the cost to install solar has dropped by more than 70% over the last 10 years, leading the industry to expand into new markets and deploy thousands of systems nationwide.
The US solar industry expects to install14.5 gigawatts of solar power in 2016, a 94% increase over the record 7.5 gigawatts last year, according to a new market report by GTM Research and the Solar Energy Industries Association. Revenues from solar installations also increased 21% from 2014 to more than $22bn in 2015.
For the first time, more solar systems came online than natural gaspower plants – the top source of electricity in the US – in 2015, as measured in megawatts, said Justin Baca, vice president of markets and research at the Solar Energy Industries Association. This year, new solar is expected to surpass installations of all other sources, said the US Energy Information Administration.
