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Generac Holdings (GNRC), PosiGen Collaborate for Energy Solution

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Generac Holdings’ (GNRC - Free Report) subsidiary Generac Grid announced its partnership with PosiGen to provide clean energy for low to medium-income residents.

The tie-up will enable the companies to supply residents with cutting-edge battery backup and load-management systems, as well as provide power back to the electrical grid, thereby increasing grid stability and lowering the reliance on fossil fuels.

Although PosiGen has given residents in Connecticut rooftop solar energy to help them save money and improve the comfort and efficiency of their homes, resiliency via battery backup has always been a challenge.

Therefore, these companies can deliver a comprehensive solution, benefitting this traditionally disadvantaged community when the grid is disrupted by weather disasters, while also providing enormous value to the grid as a whole.

PosiGen customers in Connecticut will be able to purchase a Generac PWRcell battery and Generac PWRmanager load management system to supplement their existing solar panels and give electricity to their homes when the grid goes down.

Also, the PWRcell battery can be configured to provide up to 18kWh of energy back to the grid when weather disrupts the grid.

Using its Concerto distributed energy resource control platform, Generac Grid will monitor and optimize each battery's contribution to the grid.

These companies plan to offer the innovative option to their entire installed base of customers across Connecticut, with a particular focus on those who live in the underserved cities and towns.

The companies will launch the program across the country, especially in places that offer favorable incentive structures and a strong interest in aiding low to moderate-income clients gain power resiliency.

Generac Holdings Inc. manufactures power generation equipment, energy storage systems and other power products, including portable, residential, commercial and industrial generators.

In addition, the company manufactures light towers, which provide temporary lighting solutions for various end markets, and commercial and industrial mobile heaters and pumps that are used in the oil & gas, construction, and other industrial markets.

Key Picks:

Generac Power currently has a Zacks Rank #3 (Hold).

Some better-ranked stocks from the broader technology space are InterDigital (IDCC - Free Report) , Vishay Intertechnology (VSH - Free Report) and Pure Storage (PSTG - Free Report) . InterDigital currently sport a Zacks Ranks #1 (Strong Buy), whereas Pure Storage and Vishay Intertechnology carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for InterDigital’s 2022 earnings is pegged at $3.28 per share, increasing 5.2% in the past 60 days. The long-term earnings growth rate is anticipated to be 15%.

InterDigital’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 141.13%. Shares of IDCC have declined 14.9% in the past year.

The Zacks Consensus Estimate for Vishay Intertechnology’s 2022 earnings is pegged at $2.68 per share, rising 10.3% in the past 60 days. The long-term earnings growth rate is anticipated to be 22.7%.

Vishay Intertechnology’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 4.96%. Shares of VSH have declined 17.4% in the past year.

The Zacks Consensus Estimate for Pure Storage’s fiscal 2023 earnings is pegged at 86 cents per share, unchanged in the past 60 days. The long-term earnings growth rate is anticipated to be 30.9%.

Pure Storage’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 99.2%. Shares of PSTG have gained 37.2% in the past year.