Companies Exploring Solar Energy, Establishing Foothold in Hot Industry

Reading time ( words)

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 years.

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% year-on-year in Q1, accounting for 55% 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% 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. 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% 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% this year alone, and by 17% 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.

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.

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.



Suggested Items

Worldwide Semiconductor Equipment Billings at $13.3 Billion in 2Q19; Down 20%

09/12/2019 | SEMI
Worldwide semiconductor manufacturing equipment billings reached $13.3 billion in the second quarter of 2019, down 20% from the same quarter of 2018 and 3% from than the previous quarter.

NASA's SOHO Celebrates 20 Years of Space-based Science

12/01/2015 | NASA
After 20 years in space, ESA and NASA’s Solar and Heliospheric Observatory, or SOHO, is still going strong. Originally launched in 1995 to study the sun and its influence out to the very edges of the solar system, SOHO revolutionized this field of science, known as heliophysics, providing the basis for nearly 5,000 scientific papers. SOHO also found an unexpected role as the greatest comet hunter of all time—reaching 3,000 comet discoveries in September 2015.

Copyright © 2021 I-Connect007. All rights reserved.