By: Dylan Sikes - AllPennyStocks.com News

Tuesday, October 20, 2015

According to a report by GTM Research, the cumulative global market for solar PV is expected to triple by 2020 to around 700 gigawatts. GTM Research expects solar demand to be almost entirely market-based in 2020, which is a major shift from previous years. Over the years, demand for renewable energy has been to an extent driven by direct incentives. However, the trend is now changing. GTM Research notes that one implication of an increasingly unsubsidized market is that the management and governance of the electric grid will change substantially. This will create new opportunities and challenges for solar companies, the research company adds in its report.

The robust outlook for the solar energy market augurs well for Envision Solar International Inc. (OTCQB:EVSI), which is a leading renewable energy, media and branding and EV charging product company. This morning, the company announced the first delivery of its EV ARC(TM) product has been made to California’s Department of General Services (DGS). The delivery is part of a Purchase Order against the recently announced California State Contract awarded to Envision Solar.

The EV ARC(TM) transportable solar powered EV charger has been deployed at DGS headquarters in West Sacramento, California. EV ARC has been invented and manufactured in the state of California. The product fits inside a parking space and does not reduce available parking in any way. EV ARC generates sufficient clean, solar electricity to power up to 150 miles of EV driving each day. EV ARC’s solar electrical generation is enhanced by the patented EnvisionTrak(TM) system. The products are manufactured in EVSI’s San Diego facility.

Desmond Wheatley, CEO of Envision Solar, noted that the State of California is the world leader in clean transportation and the deployment of EV ARC is another perfect example of that. Wheatley further noted that the trend set by California is generally followed by the rest of the country. He added that the company is looking forward to deploying a lot more EV ARCs in California, across the U.S. and the rest of the world.

Brent Jamison, Deputy Director at DGS, said that the EV ARC causes no environmental impact when it is deployed. Jamison added that it enables completely emission free drive, which is very much in line with the DGS’s goals.

Investors don’t seem to be as enthusiastic as the Company’s CEO sending shares of EVSI down 3.5% on the news.

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