NetworkNewsWire Editorial Coverage
New York, NY – March 4, 2019 – Amid talk of global warming and the Green New Deal, solar energy may be a more viable — and profitable — investment than ever before.
- Plenty of resources and significant growth could mean bright future for solar
- SinglePoint acquisition called “phenomenal opportunity” for company to establish industry foothold
- Solar could be main power source of choice in the future, says industry leader
Recognizing a building interest in and support of renewable energy sources such as solar energy, savvy companies are identifying ways to establish a firm foothold in the sector. SinglePoint Inc. (OTC:SING) (SING Profile) just signed an asset purchase agreement with Direct Solar and AI Live Transfers, providing what has been described as the Lending Tree model for solar business. Last month, the AES Corporation (NYSE:AES) joined with Kaua’i Island Utility Cooperative (KIUC) to inaugurate the Lāwa’i Solar and Energy Storage Project, the largest operational solar and storage system in the world. Southern Company’s (NYSE:SO) subsidiary Gulf Power has been testing its SHINES project, which installs batteries on the utility’s side of homes to control when and how much solar is sent to the grid, saving customers from having to invest in and install their own systems. After acquiring the SolarWorld Americas facility, SunPower (NASDAQ:SPWR) is assembling its high-quality 19-percent efficient solar panels for commercial customers, leveraging U.S.-made automated stringing equipment and a local workforce of about 200. Another acquisition, the $1.6 billion purchase of Sempra Energy, has made Consolidated Edison Inc. (NYSE:ED) the second largest solar energy producer in North America.
To view an infographic of this editorial, click here.
Industry Growth, Public Sentiment Supports Movement
Now seems to be the time for solar energy. According to a report from the Solar Energy Industries Association, the country’s solar market capacity increased 13 percent year-on-year in Q1, accounting for 55 percent of all U.S. electricity added during the period — that includes fossil fuels and other forms of renewable energy. The Solar Energy Industries Association reported that, in 2018, a new solar energy project launched every 100 seconds.
In addition, Advanced Energy Now projects that the solar rooftop market will reach $4.14 billion by 2022, growing at a compound annual growth rate of 9.7 percent until then. The public appears to be behind that growth, with more than three-quarters of Americans feeling that their utility provider should invest more heavily in solar energy.
The resources are certainly available. According to the Office of Energy Efficiency and Renewable Energy, the amount of sunlight hitting the Earth every couple of hours could provide the world’s energy needs for an entire year. And with the increased focus created by the New Green Deal and other environmentally friendly movements, this could be the year for the sun to shine on solar energy.
New Acquisition Changes Company Future
Recognizing the potential for tremendous development in the solar sector, savvy companies both in and out of the energy space are exploring ways to get involved. SinglePoint Inc. (OTCQB: SING) has seized the day and, with its announced Asset Purchase Agreement with Direct Solar and AI Live Transfers, appears to be making a strong move in the industry.
“This is a phenomenal opportunity for SinglePoint,” said SinglePoint president Wil Ralston. “This changes the entire financial fundamentals for the company and enables us to continue to push forward with opportunities to continue increasing shareholder value and the overall value of SinglePoint.”
Direct Solar has seen exponential growth recently. In the past year, the company has surpassed $1,500,000 in revenue and has posted approximately 60 percent gross margins. This month alone Direct Solar generated approximately $321,230. Company officials project record revenues for the company throughout the year after the acquisition is finalized.
Escalating Growth Means Huge Potential
At the United States Energy Association’s annual State of the Energy Industry forum, SEIA president and CEO Abby Hopper declared the 2020s as “the solar energy decade,” stating that solar would be the main power source of choice in the coming years.
Although the comment may sound bold, it may not be far from the truth. Total installed U.S. PV capacity is expected to more than double over the next five years, and by 2023, more than 14 GW of PV capacity will be installed annually. The U.S. Energy Information Administration projects that utility-scale solar’s share of total generation in the United States will grow by 10 percent this year alone, and by 17 percent in 2020, joining wind as the fastest-growing sources of electricity over that time period. And some experts say those numbers aren’t aggressive enough.
This escalating solar growth presents a major opportunity for SinglePoint and Direct Solar to establish a leadership role within a promising industry. SinglePoint appears particularly well suited to make this move.
Initially a full-service mobile technology provider, the company has grown through diversification into the horizontal market and has created an impressive portfolio by acquiring an interest in undervalued subsidiaries. Throughout this process, SinglePoint has built a reputation for researching opportunities where it can be active within a company and influence strategy and direction. Target companies are typically undervalued and cash-flow positive with high potential and verified assets.
Other Companies Seeking Solar Options
With Solar power generation emerging as one of the most rapidly growing renewable sources of electricity, SinglePoint isn’t the only company exploring solar energy options.
The launch of the Lāwa’i Solar and Energy Storage Project is only the most recent of AES Corporation’s (NYSE:AES) long list of successful solar projects. The project consists of a 28 MW solar photovoltaic (PV) and a 100 MWh five-hour duration energy storage system, and will help Hawaii meet its goal of reaching 100 percent renewable energy by 2045. The new PV peaker will deliver roughly 11 percent of Kaua’i’s power, making the island more than 50 percent powered by renewables. Declining costs of solar, and use cases such as this project, will make similar systems the smartest choice to leverage abundant energy from renewables in many other parts of the world. AES, a Fortune 500 global power company, provides affordable, sustainable energy to 15 countries through its diverse portfolio and appears to be firmly established as an early market leader in the field.
In addition to its Gulf Power project, Southern Company (NYSE:SO) and its subsidiaries, including Southern Power, own more than 1,230 megawatts of solar-generating capacity at 28 facilities operating in California, Georgia, Nevada, New Mexico, North Carolina and Texas. Twenty-six of these facilities are co-owned by third parties, with Southern Power having the majority ownership. Southern Power works to build the future of energy by investing in clean energy solutions for its customers. Southern Power is a leading U.S. wholesale energy provider meeting the electricity needs of municipalities, electric cooperatives, investor-owned utilities and other energy customers.
Headquartered in Silicon Valley, California, SunPower (NASDAQ:SPWR) has been a leading global solar innovator since 1985. With more than 750 patents for solar technology and total solar energy generated reaching more than 18 million MWh, SunPower offers a diversified global portfolio in residential, commercial and utility solar energy markets. The company manufactures the world’s highest efficiency solar panels, which feature SunPower® Maxeon® cell technology. Its fully-integrated design approach to solar systems, battery storage and energy monitoring software has created unique solar solutions.
With the Sempra Energy acquisition, Consolidated Edison Inc. (NYSE:ED) made a strong statement about its interest in solar energy. The acquisition provided Con Edison with 980 megawatts additional MW AC of operating renewable electric production projects and certain development rights for additional solar electric production and energy storage projects. The $1.6 billion acquisition brings the Con Edison Clean Energy Businesses portfolio of renewable assets to 2,600 MW AC in 17 states. “Renewable energy is the fastest growing source of the country’s supply of electricity, and the acquisition will accelerate our position as a market leader,” said Con Edison chairman and CEO John McAvoy. “We have grown a meaningful large-scale solar business and will add value to new capital opportunities as they arise.”
While the Green New Deal may be rooted in political positioning, the core idea of focusing on and investing in renewable energy sources — specifically solar energy — has never looked more promising. Companies such as SinglePoint that are eyeing solar energy options appear to be poised to make the most of a bright future.
For more information about SinglePoint, please visit SinglePoint Inc. (OTCQB:SING).
About NetworkNewsWire
NetworkNewsWire (NNW) is a financial news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with NNW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge. For more information, please visit https://www.NetworkNewsWire.com.
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
DISCLAIMER: NetworkNewsWire (NNW) is the source of the Article and content set forth above. References to any issuer other than the profiled issuer are intended solely to identify industry participants and do not constitute an endorsement of any issuer and do not constitute a comparison to the profiled issuer. FN Media Group (FNM) is a third-party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated with NNW or any company mentioned herein. The commentary, views and opinions expressed in this release by NNW are solely those of NNW and are not shared by and do not reflect in any manner the views or opinions of FNM. Readers of this Article and content agree that they cannot and will not seek to hold liable NNW and FNM for any investment decisions by their readers or subscribers. NNW and FNM and their respective affiliated companies are a news dissemination and financial marketing solutions provider and are NOT registered broker-dealers/analysts/investment advisers, hold no investment licenses and may NOT sell, offer to sell or offer to buy any security.
The Article and content related to the profiled company represent the personal and subjective views of the Author, and are subject to change at any time without notice. The information provided in the Article and the content has been obtained from sources which the Author believes to be reliable. However, the Author has not independently verified or otherwise investigated all such information. None of the Author, NNW, FNM, or any of their respective affiliates, guarantee the accuracy or completeness of any such information. This Article and content are not, and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action; readers are strongly urged to speak with their own investment advisor and review all of the profiled issuer’s filings made with the Securities and Exchange Commission before making any investment decisions and should understand the risks associated with an investment in the profiled issuer’s securities, including, but not limited to, the complete loss of your investment.
NNW & FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and NNW and FNM undertake no obligation to update such statements.
NetworkNewsWire (NNW) is affiliated with the Investor Brand Network (IBN).
About IBN
Over the past 10+ years we have consistently introduced new network brands, each specifically designed to fulfil the unique needs of our growing client base and services. Today, we continue to expand our branded network of highly influential properties, leveraging the knowledge and energy of specialized teams of experts to serve our increasingly diversified list of clients.
Please feel free to visit the Investor Brand Network (IBN) www.InvestorBrandNetwork.com
Corporate Communications Contact:
NetworkNewsWire (NNW)
New York, New York
212.418.1217 Office
Media Contact:
FN Media Group, LLC
+1-(954)345-0611
Source: NetworkNewsWire
