It’s a growing industry, and in our home state of Michigan, it’s been an exciting time in cannabis sales.
Recreational cannabis sales were legalized all the way back in 2018, but it took more than a year of legislation and negotiation to see product actually hit the shelves this past December. On the first of that month, the proverbial flood gates opened, and in just two and a half months, cannabis sales have surpassed over $17 million. The young industry is getting stronger by the day, and the numbers back it up. The Marijuana Regulatory Agency reported that the last week of January hit a staggering $2.8 million in just seven days, a record that will almost certainly be eclipsed in no time at all.
With demand skyrocketing, more and more suppliers are getting approval from the state of Michigan to either sell or produce marijuana. On the retail side, there are now 43 licensed companies around the state with products available for recreational sale. They’re supplied by a full ten different growers. New regulations allow medical marijuana producers to put as much as 50% of their 30-day medical supply up for recreational sale, boosting the availability of Michigan’s marijuana stock.
That decision to allow medical suppliers to offer recreational product has helped to avoid any sort of a black market as legalization takes hold. For growers, that’s been an important point and one that supports further investment in production. We’ve been working closely with a number of facilities to meet ambitious quotas and aggressive growth cycles, looking to put the very best product possible into the hands of eager customers. We know from first-hand experience that the future of recreational marijuana relies on efficiency in production.
Our team has identified some vital components to the lighting, HVAC, and other elements of healthful and productive cultivation, lowering operating costs and improving the competitiveness of sustainable producers. This emphasis on efficient energy use will only become more important in the marijuana industry in the months and years to come, and as more growers obtain licenses and enter the market, investing in the right equipment and systems from Day One may well determine which firms make it and which firms fold.
Michigan is just one of several states in the very early phases of the marijuana legalization process, and we’re in contact with companies across the region to offer advice, take in information, and help guide the next steps for firms pushing the envelope in one of the most exciting industries of a generation.
Ready to learn more? Contact Keen and let us help you grow the right way, with sustainable, cost-effective energy solutions.