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Editorial Coverage: With climate change a hot topic and the
Green New Deal providing a possible pathway for progress, solar
power may be a more viable — and profitable — source of energy than
ever before.
- Significant growth, ample resources point toward bright solar
energy future
- SinglePoint acquisition provides phenomenal opportunity for
company to establish industry foothold
- Experts predict solar could be main power source of choice in
the coming
Recognizing a building interest in and support of renewable
energy sources such as solar energy, smart companies are finding
ways to establish a strong foothold in the sector.
SinglePoint Inc. (OTCQB: 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. First Solar Inc. (NASDAQ: FSLR) is
working to complete construction and upgrades of its manufacturing
facilities, enabling the company to produce its most advanced
Series 6 solar panels. NextEra Energy Inc. (NYSE:
NEE) was ranked by Forbes as No. 21 among the top
57 companies that globally change the world, in part because
Florida Power & Light Company, one of NextEra Energy’s
principal subsidiaries, is in the midst of one of the largest solar
expansions in the world. NRG Energy Inc. (NYSE:
NRG) was recently recognized at Smart Energy Decisions’
2019 Innovative Summit for its landmark new sustainability product,
Renewable Select. And in Virginia, Dominion Energy Inc.
(NYSE: D) has launched a major bid to significantly
increase its solar and wind energy generation under the state’s new
Grid Transformation & Security Act.
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
SEIA also 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 significant movement in solar
energy, savvy companies both in and out of the energy sector are
eyeing opportunities 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.
Burgeoning Growth Presents Hot
Opportunities
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 seem bold, it may not be without merit.
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 burgeoning solar growth presents a major opportunity for
SinglePoint and Direct Solar to establish a leadership role within
a promising industry. SinglePoint is well equipped 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
SinglePoint isn’t the only company exploring solar energy
options.
In 2018, First Solar Inc. (NASDAQ: FSLR)
announced plans to build a
new $400 million solar module manufacturing facility in Lake
Township, Ohio. Construction began in mid-2018 on the 1
million-square-foot facility, which will manufacture Series 6
thin-film PV modules and triple First Solar’s U.S. capacity. The
facility is scheduled to enter full production mode in late 2019.
The new facility will be located within a mile of First Solar’s
flagship manufacturing center in Perrysburg Township. In addition,
First Solar has developed, financed, engineered, constructed and
currently operates many of the world’s largest grid-connected PV
power plants.
Self-described as the world’s largest producer of wind and solar
energy, NextEra Energy Inc. (NYSE: NEE) is a
leader in solar energy development. Almost a decade ago, the
company’s FPL Group broke ground on a 10-MW solar power facility at
the Kennedy Space Center, and in 2015, the company’s Desert
Sunlight Solar Farm — one of the world’s largest solar projects —
began commercial operation in Riverside County, California. A year
later, FPL partnered with Daytona International Speedway to
complete the FPL Solar Circuit, a system of more than 7,000 solar
panels built as canopies that not only generate electricity for FPL
customers and the speedway operations but also offer shade to face
fans. Currently, FPL is midst of completing one of the largest
solar expansions ever, bringing eight new solar energy centers
online in 2018 with plant so install more than 10 million solar
panels by 2023.
NRG Energy Inc. (NYSE: NRG) was recently recognized at Smart Energy Decisions’ 2019
Innovative Summit for its landmark new sustainability product,
Renewable Select. This new solar energy plan is designed for NRG
Energy business customers who were interested in renewable energy
but hesitant to give up cost certainty. Keeping those needs in
mind, NRG Energy developed a plan that offers customer clean,
green, accessible energy at a fixed price without the complexity
often associated with renewable options. NRG’s team sourcing the
actual energy needed then packages it in a standard contract with
straightforward terms. As a result, a dedicated solar facility and
100 percent of its production is assigned to an individual
business.
At Dominion Energy Inc. (NYSE: D), solar energy
is key to the company’s commitment to clean energy growth. Since
2013, Dominion has helped bring
1,200-megawatts (MW) of large-scale solar into operation in
nine states — enough energy to power about 300,000 homes at peak
output. The company plans to expand large-scale solar energy in
Virginia by 2020, with an estimated 5,200 MW of new solar energy
potentially added in the next 25 years.
Although the Green New Deal may be founded in political
positioning, the core idea of focusing on and investing in
renewable energy sources — specifically solar energy — has arrived.
Companies such as SinglePoint that are exploring solar energy
options appear to be poised to make the most of what looks to be a
bright future.
For more information on SinglePoint, Inc., visit SinglePoint,
Inc. (OTCQB: SING)
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